Larry Ellison is the world’s second-wealthiest person for the first time ever, according to the Bloomberg Billionaires Index, as a red-hot rally in Oracle’s share price has catapulted his net worth to $US251.2 billion ($385.2 billion).
Oracle has been a key winner as investors have piled into artificial intelligence stocks. The company’s shares have almost tripled since ChatGPT was released to the public in November 2022, but it’s been on a particular tear over the past three months. The stock has gained more than 90 per cent since late April as the computing provider recorded surging revenues and inked key partnerships.
