Bloomberg Billionaires Index

Yonhap News

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Larry Ellison, Oracle Chairman and Chief Technology Officer (CTO), surpassed Mark Zuckerberg, Meta CEO, to become the second richest person in the world.

According to the Bloomberg Billionaires Index on July 15 (local time), Chairman Ellison’s net worth rose to $251.2 billion (KRW 348.4395 trillion) as Oracle’s share price surged.

On this day, Oracle’s share price closed at $234.96, up 2.48% from the previous day. The increase followed news that the U.S. government would ease semiconductor export restrictions to China, allowing companies such as Nvidia and AMD to export to the country. More than 80% of Chairman Ellison’s wealth consists of Oracle shares and options.

The software company Oracle is considered a major beneficiary of the artificial intelligence (AI) boom. Since the release of ChatGPT in November 2022, Oracle’s share price has roughly tripled. In particular, over the past three months, the company’s revenue has soared and it has signed major partnerships, driving the stock up by more than 90% since the end of April this year. Oracle CEO Safra Catz projected that the company’s performance in fiscal year 2026 would be even more positive. Oracle is also a key beneficiary of the ‘Stargate’ project, a record-breaking $500 billion AI infrastructure initiative.

Warren Buffett

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Meanwhile, CEO Huang’s wealth has also risen sharply as Nvidia’s stock price surged recently. On July 11, CEO Huang overtook Chairman Buffett to rank ninth on the Bloomberg Billionaires Index. The majority of CEO Huang’s fortune comes from Nvidia shares, and as of this day, his net worth stands at $149 billion. The world’s richest person remains CEO Musk, whose net worth on this day reached $358 billion.