Oracle's Larry Ellison Becomes World's Second-Richest Person with $400 Billion Net Worth

Oracle's Larry Ellison has doubled his wealth to nearly $400 billion in 2023, surpassing Bank of America's market value of $385 billion. His net worth has grown thanks to Oracle stock jumping 97% this year on AI optimism. Ellison owns about 41% of Oracle's stock, which has soared to record highs, making him the world's second-wealthiest person after Elon Musk.

Larry Ellison, co-founder of Oracle, has seen his net worth soar to nearly $400 billion in 2023, surpassing Bank of America's market value of $385 billion. This remarkable growth is primarily attributed to Oracle's stock performance, which has jumped 97% this year on optimism surrounding AI advancements Explained: Why is Oracle’s Larry Ellison’s net worth falling?^[1].

Ellison's wealth has increased significantly due to his substantial ownership of Oracle's stock. He owns approximately 41% of the company's shares, which have reached record highs. This surge in stock value has propelled Ellison to the position of the world's second-wealthiest person, behind only Elon Musk Oracle Is Getting 2 New CEOs. Here Is What Options Data Tells Us Could Be Coming Next for ORCL Stock.^[2].

The significant increase in Oracle's stock price can be attributed to several factors, including the company's strategic deals and market optimism around AI. For instance, Oracle's $300 billion, five-year cloud contract with OpenAI has been a key driver of this growth. This deal, announced in September 2025, sent Oracle shares soaring by 41% in a single trading day, marking the largest rally in the company's history Explained: Why is Oracle’s Larry Ellison’s net worth falling?^[1].

However, concerns about the deal and the future of the tech market have also played a role in the stock's volatility. While the initial market euphoria was substantial, skepticism about the OpenAI contract quickly spread. Many analysts flagged major risks tied to the deal, including Oracle's less proven business model in cloud computing and the operational capacity of OpenAI to fulfill such a large commitment Explained: Why is Oracle’s Larry Ellison’s net worth falling?^[1].

Despite these concerns, Oracle's stock has continued to perform well. The company's recent executive reshuffle, with the appointment of Clay Magouyrk and Mike Sicilia as co-chief executives, has also been well-received by investors. This appointment brings complementary expertise in cloud infrastructure and vertical applications to Oracle's senior leadership roles Oracle Is Getting 2 New CEOs. Here Is What Options Data Tells Us Could Be Coming Next for ORCL Stock.^[2].

Looking ahead, Oracle's expanding role in AI and cloud computing, along with its recent executive changes, suggest continued strength in the company's stock. Options data from Barchart paints a bullish-leaning picture for Oracle shares, with price targets going as high as $400, indicating potential upside of another 22% Oracle Is Getting 2 New CEOs. Here Is What Options Data Tells Us Could Be Coming Next for ORCL Stock.^[2].

In summary, Larry Ellison's net worth has doubled to nearly $400 billion in 2023, driven primarily by Oracle's stock performance. The company's strategic deals and market optimism around AI have been key factors in this growth, although concerns about the OpenAI contract have also influenced stock volatility. Investors should continue to monitor Oracle's performance and the broader tech market for further insights.