Oracle’s record-breaking AI cloud contracts push Ellison’s fortune to $395B, marking the biggest single-day gain in modern financial history
Larry Ellison, the 81-year-old co-founder and chairman of Oracle, briefly became the world’s richest person on Wednesday after an unprecedented surge in Oracle’s stock sent his net worth soaring.
According to the Bloomberg Billionaires Index, Ellison’s fortune climbed to $395 billion, surpassing Elon Musk’s $384 billion, as Oracle shares surged as much as 43% to a record $345.69 during the day. The stock later closed at $328.33, up 36% — the company’s best single-day performance since 1992.
Ellison, who owns 1.16 billion Oracle shares, made an extraordinary $101 billion in a single day, though his net worth settled slightly lower after a late-session selloff, leaving him just $1 billion behind Musk by the day’s end.
Oracle’s AI-fueled surge
The rally followed Oracle’s announcement of four multi-billion-dollar cloud contracts, cementing its position as a critical player in the artificial intelligence boom. CEO Safra Catz revealed that Oracle has signed deals with leading AI firms, including OpenAI, xAI, and Meta, pushing the company’s Remaining Performance Obligations (RPO) up 359% to $455 billion.
A massive portion of this revenue comes from OpenAI, which agreed to purchase $300 billion worth of computing power from Oracle over five years — one of the largest cloud deals in history. Catz added that Oracle expects its RPO to soon exceed half a trillion dollars, forecasting explosive growth in its cloud division:
$18 billion this fiscal year (77% growth)
$32 billion in FY2026
$73 billion in FY2027
$114 billion in FY2028
$144 billion by FY2030
This growth is being fueled by Oracle’s aggressive stockpiling of Nvidia AI chips and its strategy of renting computing power to tech giants such as Amazon and Google.
Balancing growth and cost cuts
Despite missing earnings estimates by a narrow margin — with Q1 revenue at $14.9 billion versus expectations of $15 billion, and EPS at $1.47 compared to the forecasted $1.48 — Oracle’s stock roared ahead. Capital expenditures are now projected to reach $35 billion in 2026, well above earlier estimates.
To fund its AI push, the company has trimmed costs, laying off staff and reportedly considering eliminating raises and bonuses this year. Yet investor confidence remains high, underscored by the long-term trajectory of Oracle’s AI-driven business.
Ellison’s record-breaking wealth
Ellison’s ascent marks one of the most dramatic single-day wealth gains ever recorded. He has added nearly $200 billion to his fortune in 2025 alone, while Musk’s net worth has declined by about $40 billion due to Tesla’s volatility.
Oracle’s role in Stargate, a $500 billion AI infrastructure initiative launched by OpenAI, SoftBank, and endorsed by President Trump, has also positioned the company as a central player in building America’s AI data center capacity.
While short-term plans for Stargate have slowed, Oracle’s contracts and projections signal a massive wave of future growth, ensuring Ellison’s wealth — and Oracle’s dominance in the AI race — will remain under the spotlight.
