Larry Ellison, Oracle co-founder and CTO, has surged to the second spot on Forbes's real-time billionaire list, overtaking Mark Zuckerberg and Jeff Bezos, following a 14% jump in Oracle's stock. His net worth reached approximately $242 billion after the company reported better-than-expected fiscal results. Ellison highlighted the 'astronomical' demand for cloud services during the earnings call, as Oracle's market share significantly lags behind competitors like AWS and Microsoft Azure. Ellison's position reflects a comeback, reminiscent of his prior successes during the dot-com boom.
"During the earnings call, Ellison stated that demand for cloud services is 'astronomical' and 'insatiable,' emphasizing how customers want as much capacity as possible."
"With a net worth surge of roughly $25 billion, Ellison reclaimed the No. 2 spot on Forbes's billionaire list, trailing only Elon Musk."
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