SAN FRANCISCO, CALIFORNIA – SEPTEMBER 16: Oracle chairman of the board and chief technology officer Larry Ellison delivers a keynote address during the 2019 Oracle OpenWorld on September 16, 2019 in San Francisco, California. Oracle chairman of the board and chief technology officer Larry Ellison kicked off the 2019 Oracle OpenWorld with a keynote address. The annual convention runs through September 19.
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Oracle Chairman Larry Ellison is almost $16 billion richer as of Friday’s close, passing Google’s co-founders and inching him towards Microsoft’s Bill Gates.
Oracle’s stock surged 16% following a better-than-expected quarterly earnings report late Thursday. Ellison, the company’s biggest stakeholder with 1.14 billion shares, is now worth $135.7 billion, according to Forbes.
The Oracle rally, its second-biggest in the past 20 years, was a huge boon to Ellison, who co-founded the software company in 1977. On the Forbes billionaires list, he’s moved just ahead of Google’s Larry Page ($126.3 billion) and Sergey Brin ($121.7 billion) into fifth place. Gates, the world’s fourth-wealthiest person, is worth $139.2 billion.
Ellison’s resurgence comes as somewhat of a surprise considering the next-generation tech companies, like Google, Amazon and Facebook, have been growing so much faster in recent years while Oracle has plodded along with mostly single-digit growth. But Oracle is showing signs of acceleration and the company’s latest guidance topped…