Larry Ellison, the co-founder of Oracle and the company’s chief technological officer (CTO), saw his total net worth surge by a staggering USD 12.3 billion or Rs 1,06,470 crore, close to 6.3 per cent, in no time.
Trump’s Major Announcement
This astronomical surge in his personal net worth came to pass after US President Donald Trump announced a USD 500 billion investment deal involving Japan’s SoftBank, Sam Altman-led OpenAI and Larry Ellison’s very own Oracle.
The major deal will see investment in the development of Artificial Intelligence infrastructure in the United States.
Cure For Cancer
One of the major comments that emerged from this particular grouping was the thought that this investment could result in the development of a cure for cancer, and that ‘AI can cure cancer.’
When Trump made the announcement Tuesday afternoon, Oracle Chairman Larry Ellison, SoftBank CEO Masayoshi Son, and OpenAI CEO Sam Altman were all at the White House. To begin the initiative, these three businesses will invest USD 100 billion, and over the following five years, they will contribute USD 500 billion.
Larry Ellison’s Surge In Net Worth
In the hours following the announcement of this particular deal, Larry Ellison’s total net worth grew significantly.
His current net worth stands at USD 216.9 billion, taking him to third position amongst the richest people in the world, behind Jeff Bezos at second position and Elon Musk, at the top.
The value of his company has also risen. On the list of the largest companies by market capitalisation, Oracle grew to USD 482.67 billion, after a surge of 7.17 per cent, taking it to the 19th position.
When we look at the equity markets, the company shares rose by a major 7.17 per cent or USD 11.54, further increasing by 7.87 per cent after the closing. This took the overall value of the company shares to USD 172.57 per piece.
Larry Ellison has been a vocal supporter of Trump and had even endorsed the 47th president during his campaign in 2024.
