Reported 7 months ago
Oracle co-founder and Chief Technology Officer Larry Ellison saw a significant increase in his net worth, totaling over $15 billion, following the positive market response to Oracle's fourth-quarter earnings results. The surge in Oracle shares pushed Ellison's fortune to an estimated $171.1 billion, making him the world's fifth-richest person. The boost came after CEO Safra Catz predicted strong AI demand driving sales growth in fiscal 2025. Oracle reported fourth-quarter revenues of $14.29 billion, a 3% increase year-over-year, while net income narrowed by 5% to $3.14 billion. Ellison also announced plans to move Oracle's headquarters to Nashville in the near future.
Source: YAHOO