Oracle rally: Larry Ellison briefly overtook Bezos to be world’s second-richest person

Larry Ellison, Oracle’s (NYSE:ORCL) co-founder and technology chief, briefly overtook Amazon (NASDAQ:AMZN) founder Jeff Bezos to be the world’s second-richest person, after the software giant’s shares saw their best week since late 2021.

The stock gained 14.3% last week after Oracle’s (ORCL) Q1 earnings topped expectations and its long-term targets impressed investors.

The stock rally briefly lifted Ellison’s net worth to $208.4B on Friday, according to Forbes‘ Real-Time Billionaires List, but it has since come down to $197.7B. Ellison, who owns an about 40% stake in Oracle (ORCL), is the company’s biggest shareholder.

Bezos’ net worth stands at $204.4B, while Tesla (TSLA) CEO Elon Musk holds the richest person crown with a net worth of $252.8B.

Oracle (ORCL) has been on a roll since its earnings report, and its multi-cloud strategy involving partnerships with Amazon (AMZN), Google (GOOG) (GOOGL) and Microsoft (MSFT) is expected to significantly bolster its market position.

“We believe our cloud partnerships with AWS, Microsoft, and Google will turbocharge the growth of our database business for years to come,” Ellison had said during Oracle’s (ORCL) earnings call.