Larry Ellison wraps up banner year as Oracle's stock rallies most since dot-com boom
Oracle shares have jumped 63% in 2024 and are headed for their best year since 1999, adding over $75 billion to Larry Ellison's net worth.
It's been a good year for Larry Ellison.
Oracle's co-founder has gained roughly $75 billion in paper wealth as the software company he started in 1979 enjoyed its biggest stock rally since 1999 and the dot-com boom.
While the S&P 500 index has gained 27% in 2024, Oracle shares have shot up 63%, lifting Ellison's net worth to over $217 billion, according to Forbes, behind only Tesla CEO Elon Musk and Amazon founder Jeff Bezos among the world's richest people.
At 80, Ellison is a senior citizen in the tech industry, where his fellow billionaire founders are generally decades younger. Meta CEO Mark Zuckerberg, whose net worth has also ballooned past $200 billion, is half his age.