Larry Ellison’s Net Worth Soars by Record $14 Billion in a Day
- Oracle founder jumps Gates to become the fifth-richest person
- Oracle shares climb 11% on demand for cloud-computing services
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Oracle Corp. founder Larry Ellison’s net worth rose by the most ever on Tuesday after the software giant’s earnings indicated artificial intelligence demand is bolstering its cloud computing business.
Ellison, 80, leapfrogged Microsoft Corp. founder Bill Gates to become the world’s fifth-richest person, with a net worth of $168 billion, according to the Bloomberg Billionaires Index. The $14.1 billion increase in wealth is his biggest for a day since Bloomberg began tracking his fortune in March 2012.