Larry Ellison, co-founder of the American corporation Oracle, briefly became the richest person on the planet, surpassing Elon Musk in the Bloomberg billionaire rankings. This was made possible by a significant increase in Oracle’s stock value following the release of the company’s quarterly financial report.
This is reported by Business • Media
Oracle’s Financial Gains and Record Stock Growth
In the first quarter of the 2026 fiscal year, Oracle reported revenue of $14.9 billion. Earnings per share, excluding GAAP standards, rose by 6% to $1.47. Particularly impressive was the growth in the RPO (remaining performance obligations) metric — up 359% to $455 billion.
A significant boost to this development came from signing a five-year contract with OpenAI worth $300 billion. Oracle will provide OpenAI with computing power for data centers, marking the largest deal in the industry’s history. The Washington Post notes that this partnership has significantly impacted the company’s market position.
“It was an astonishing quarter, and demand for Oracle Cloud Infrastructure continues to grow. Over the next few months, we expect to attract several new clients with multi-billion dollar revenues, and RPO is likely to exceed $500 billion,” said Oracle CEO Safra Catz.
Following the publication of the financial report, Oracle’s stock on the New York Stock Exchange rose by more than 36% in a single day, marking the largest jump for the company since 1992.
Ellison’s Wealth Growth and Position in Global Rankings
Larry Ellison controls a significant share of Oracle’s stock — between 41.24% and 42.9%, according to various sources. As of mid-September 2025, out of 2.81 billion outstanding shares of the company, over 1.15 billion are owned by Ellison himself.
The value of Oracle’s stock increased from $241.5 to $338.5, resulting in Ellison’s wealth growing by $89 billion to reach $383.2 billion. This allowed him to surpass Elon Musk in the Bloomberg rankings, although by the end of the day, Musk regained the lead with a net worth of $384.2 billion. According to Forbes, the gap between the two billionaires remains substantial.
“AI is changing everything,” Ellison stated in his remarks.
The executive also emphasized that revenue from Oracle’s Cloud Infrastructure (OCI) has increased by 1529% due to large corporate clients, including Amazon, Google, and Microsoft.
Additionally, Oracle is participating in the large-scale Stargate project aimed at developing artificial intelligence infrastructure in the U.S. alongside OpenAI and Softbank. The total investment in this project will reach $500 billion.