Larry Ellison's net worth increased by $18 billion after Oracle's stock price surged the most since 2021.

• On Wednesday, the value of Larry Ellison's 42% Oracle stake increased by $18 billion after the software company announced a call for faster revenue growth.
• More than 45 years ago, Ellison founded the company and currently owns approximately 1.15 million shares in it.
• During a conference call with analysts, Ellison announced that Oracle is establishing data centers to take advantage of the growing demand for generative artificial intelligence.

Larry Ellison, the founder of the software maker, is now $18 billion richer after predicting double-digit revenue growth for the fiscal year, resulting in a sharp rally in the stock's price since 2021.

Oracle CEO Larry Ellison owns approximately 1.15 billion shares of the company, which accounts for about 42% of its outstanding stock. Following a recent increase in stock value, Ellison's net worth has increased to nearly $171 billion, according to Forbes. This places him as the fifth-richest person in the world, just behind CEO Mark Zuckerberg.

Despite being out of the CEO role for a decade, Ellison, who took up the title of chief technology officer in 2014, remains the leading figure at the company and still participates in quarterly earnings calls. During Tuesday's call, following the company's fiscal fourth-quarter earnings report, Ellison boasted about Oracle's construction of data centers that can accommodate the increasing demand for generative artificial intelligence.

Ellison stated that we are constructing the tiniest, most portable, and most cost-effective cloud data centers, ranging from 200-megawatt data centers, which are ideal for training massive language models and keeping them current.

On Wednesday afternoon, Oracle's stock price surged 13%, reaching a new record of $139.82. The stock was on track for its best day since December 10, 2021. Analysts from Bank of America, Barclays, Bernstein, JPMorgan, and UBS all raised their 12-month price targets for the stock.

Oracle expects double-digit revenue growth in the new fiscal year, despite quarterly profit and revenue falling short of Wall Street estimates. The company also announced that its database will be available on public cloud and OpenAI will have access to cloud-based AI tools on Oracle's cloud infrastructure.

In the near future, Ellison's Oracle stake will increase due to the expiration of stock options granted to him in 2014 and 2017 when the stock price was lower.

Ellison is renowned for his extravagant spending. He owns properties in California, Florida, and the Hawaiian island of Lanai, as reported by the Wall Street Journal in 2022. He has contributed to political campaigns for many years, established a sailing league, and owns the Indian Wells Tennis Garden in California.

Ellison, a close friend of Elon Musk, joined and then left the board of . He was reportedly planning to help finance Skydance Media's proposed merger with Paramount Global. His son, David Ellison, is Skydance Media's founder and CEO.

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