Technology that Oracle founder Larry Ellison called “complete gibberish” is what has made him the second richest man on Earth, beating Jeff Bezos and Mark Zuckerberg
Oracle founder Larry Ellison, who once mocked cloud computing as “complete gibberish,” is now the second-richest person on Earth, overtaking Amazon’s Jeff Bezos and Meta’s Mark Zuckerberg. With a net worth of $288 billion, he is behind Elon Musk who has a net worth of $3379 billion, as per Bloomberg Billioniare Index. The reason: Oracle’s soaring success in cloud services, a business Ellison once ridiculed but that has since transformed the company and his fortune. In 2008, Ellison dismissed cloud computing as “complete gibberish.” But today, Oracle’s cloud infrastructure is fueling record growth thanks to the boom in artificial intelligence (AI) which has increased the demand for computing power and storage. Oracle has emerged as a key supplier for big companies like OpenAI and Elon Musk’s xAI.
