Oracle stock price soars, Ellison challenges Musk for the title of world's richest person.

Oracle Corp announced its quarterly performance after the US stock market closed on Tuesday, exceeding market expectations and stating that it will further grow in the future. The stock price of ORCL surged nearly 30% after hours, and founder Larry Ellison's net worth skyrocketed, nearly rivaling the world's richest person, Elon Musk.

At 81 years old, Ellison is the co-founder, current chairman, and CTO of Oracle Corporation. He owns over 40% of Oracle's shares and also holds shares in Tesla, a sailing team, the Indian Wells tennis event (, Island Air ), as well as real estate in various locations including the United States, Japan, and Hawaii. However, most of his net worth comes from Oracle.

The stock price of Oracle has risen 43% so far this year and skyrocketed nearly 30% in after-hours trading on Tuesday, as the company reported a significant growth in order volume and expressed optimism about its cloud infrastructure business outlook. This is the company's largest single-day increase since 1999.

According to the Bloomberg Billionaires Index, Ellison's total wealth has increased to $364 billion, only a slight difference from Musk's $384 billion.

Elon Musk first became the world's richest person in 2021, but was later surpassed by Amazon's Jeff Bezos (Jeff Bezos) and LVMH's Bernard Arnault. Last year, he regained the title of the world's richest person and has maintained it for just over 300 days.

Most of Musk's assets also rely on Tesla's stock price, which has fallen 11% so far this year, far underperforming the S&P 500's +10%, not to mention the outstanding performance of Oracle this year!

This article discusses the skyrocketing stock price of Oracle, as Ellison challenges Musk for the title of world's richest person. It first appeared in Chain News ABMedia.