Oracle co-founder Larry Ellison overtakes Mark Zuckerberg as world’s second-richest person

Larry Ellison is the world’s second-wealthiest person for the first time ever, according to the Bloomberg Billionaires Index, as a red-hot rally in Oracle Corp.’s share price has catapulted his net worth to $251.2 billion.

Oracle has been a key winner as investors have piled into artificial-intelligence stocks. The company’s shares have nearly tripled since ChatGPT was released to the public in November 2022, but it’s been on a particular tear over the past three months, with the stock gaining more than 90 per cent since late April as the computing provider recorded surging revenues and inked key partnerships.