Oracle chairman Larry Ellison became the world’s second-richest person Thursday, reclaiming the rank from Google cofounder Larry Page as a weekslong rally for Google parent firm Alphabet’s stock cooled.
Key Takeaways
- Oracle’s shares rose 2% to around $212 as of around 12:35 p.m. EST, adding to a 3.3% gain on Wednesday after the company announced Tuesday it would release its second-quarter results on Dec. 10.
- Shares of Alphabet fell 1% to just over $316, paring earlier gains after the stock surged 84% from Aug. 1 to Sept. 10, when it reached an all-time high of $345.72.
- Market indexes were largely flat as of early afternoon.
Forbes Valuation
Ellison’s estimated net worth grew to $264.8 billion, following a $5.2 billion increase Thursday. He ranks ahead of Page, whose fortune is estimated at $259.7 billion after a $2.4 billion dip. Fellow Google cofounder Sergey Brin, who bumped Ellison last week to become the world’s third-richest person, now ranks fifth with a net worth estimated at $239.6 billion. Brin falls behind No. 4 Jeff Bezos, whose fortune is estimated at $239.8 billion. Tesla CEO Elon Musk remains the world’s richest person—by far—with a net worth of about $493.6 billion.
What To Watch For
Wall Street expects Oracle to report earnings per share of $1.65 in its second quarter, along with revenues of about $16.1 billion, according to FactSet. Oracle’s revenues are expected to be boosted by its cloud business, which is estimated to bring in nearly $9.4 billion.
Key Background
Ellison and Google’s cofounders have traded ranks among the world’s richest people in recent weeks, as shares of Oracle and Alphabet moved in opposite directions. Alphabet appeared to evade broader concerns of an AI bubble, while more investors reportedly started trading against Oracle’s stock as a broader bet against AI. Berkshire Hathaway added to optimism for the Google parent after announcing a nearly $5 billion stake in the company, marking a rare foray in tech for Warren Buffett’s firm, behind a larger Apple bid. Alphabet also released the latest iteration of its AI model, Gemini 3, to praise from OpenAI’s Sam Altman and Musk—both top competitors in the AI space. Meanwhile, investors appeared to be bearish for Oracle and other AI-related stocks, including Nvidia and Broadcom, with roughly 45% of traders viewing an AI bubble as a top risk, according to a Bank of America survey released last month.
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This story was originally published on forbes.com and all figures are in USD.
