Larry Ellison’s Fortune Surges Past The Google Founders As Oracle Stock Soars Friday

Oracle stock had a blowout Friday, jumping nearly 16% in a day after a strong quarterly earnings report. The stock jump added $15.1 billion to Oracle cofounder Larry Ellison’s fortune, pushing him past Google cofounders Larry Page and Sergey Brin to make Ellison the No. 5 richest person in the world—with a fortune of $135.7 billion, according to Forbes.

Tech giant Oracle announced earnings after markets closed Thursday for the three months through November 30. Revenues rose 6% to $10.36 billion, beating reported analyst expectations of  $10.21 billion. The company reported a net loss of $1.25 billion for the quarter.

Even before the 15.6% surge in Oracle shares on Friday, the stock had chalked up impressive gains for the year, climbing 39% since December 31, 2020. Ellison’s fortune was $88.2 billion on the last day of 2020—and had risen to $120.6 billion on Thursday December 9, Forbes estimates.  Ellison’s fortune has also been bolstered this year by the rise in value of Tesla stock; he sits on Tesla’s board and currently owns about $15 billion worth of Tesla shares.

Ellison, the chairman and chief technology officer of Oracle, cofounded the software company in 1977 with Bob Miner and Ed Oates. He owns about 35% of the shares, many of which he has pledged as collateral for loans.

A spokesperson for Oracle has not yet responded to a request for comment from Forbes on Ellison’s fortune.

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