Larry Ellison wraps up banner year as Oracle's stock rallies most since dot-com boom [CNBC]
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Source: CNBC
The company signed deals with companies including Meta and OpenAI. “Oracle produced a different product than what you can get elsewhere with GPU computing,” said Paras Jain, CEO of startup Genmo. It's been a good year for Larry Ellison. Oracle's co-founder has gained roughly $75 billion in paper wealth as the software company he started in 1979 enjoyed its biggest stock rally since 1999 and the dot-com boom. While the S&P 500 index has gained 27% in 2024, Oracle shares have shot up 63%, lifting Ellison's net worth to over $217 billion, according to Forbes , behind only Tesla CEO Elon Musk and Amazon founder Jeff Bezos among the world's richest people. At 80, Ellison is a senior citizen in the tech industry, where his fellow billionaire founders are generally decades younger. Meta CEO Mark Zuckerberg , whose net worth has also ballooned past $200 billion, is half his age. But Ellison has found the fountain of youth both personally and professionally. After being divorced s
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