Following Oracle’s greatest day on the stock market since 2021, Larry Ellison has gained $15 billion in wealth

On Tuesday, Oracle founder Larry Ellison recorded a $15 billion gain as his software company’s shares finished at a new high, marking their finest day in more than two years.

Ellison, who founded Oracle in 1977, is still the largest stakeholder in the business, with a stake estimated to be worth $146 billion following the most recent collapse. According to Forbes, he is the fifth wealthiest person in the world, slightly behind Mark Zuckerberg, the CEO of Meta, and ahead of Warren Buffett.

Following the software vendor’s release of fiscal third-quarter profits that above analysts’ forecasts, Oracle shares surged 12% to finish at $127.54. The company’s cloud services and licensing support division had a 12% increase in revenue, above projections.

Although Oracle lagged behind in cloud infrastructure and missed out on the most recent AI boom, Ellison is now able to highlight his company’s growth in the most competitive field thanks to rising demand for Oracle’s AI technology.

With Oracle’s share price rising 52% in the last year, Ellison’s net wealth has increased by around $50 billion. The S&P 500, which has increased by 34% during the last 12 months, has underperformed the stock.

In contrast to Jeff Bezos of Amazon, Larry Ellison has refrained from selling any of his stock. Ellison hasn’t sold any Oracle stock since 2016, and his most recent transaction was a 7,000-share buy in 2022, according to FactSet.

This year, Bezos has sold more than 50,000 shares of Amazon. Most recently, he sold more than 14 million shares of his business in mid-February, for an estimated $2.4 billion.