Meet the man who earned $140 billion in months due to AI boom
&imwidth=600&imheight=450&format=webp&quality=medium "Meet the man who earned $140 billion in months due to AI boom")
Oracle co-founder, CTO and Executive Chairman Larry Ellison speaks during a news conference. Photograph: (AFP file)
Who is Larry Ellison? He is the biggest gainer from the AI-induced stock rally this year. The stocks of the company jumped 73 per cent.
The artificial intelligence revolution has arrived, with AI companies like OpenAI, Oracle, Nvidia, and AMD announcing massive deals worth billions of dollars. Because of these deals, the valuations of AI and chip firms have risen leaps and bounds. Within months, tech honchos have added billions of dollars to their net worth. Here is a list of people who have gained the most from these AI deals.
Larry Ellison, the founder of Oracle and the chief technology officer of the tech giant, made $140 billion in the past year, Forbes reported. He is the biggest gainer from the AI-induced stock rally this year. The stocks of the company jumped 73 per cent.
Nvidia cofounder and CEO Jensen Huang’s fortune also increased. This is because the company is powering AI engines with its GPUs. His net worth increased by $47 billion this year. His company's shares have risen by 40 per cent.
Michael Dell's fortunes also increased over the past few months. Due to his shares in Dell (39 per cent) and his stake in Broadcom (49 per cent), he has become richer by $35 billion.
Cloud computing firm CoreWeave’s five billionaires have also gained a lot of wealth because of their IPO. Michael Intrator, Brian Venturo, Brannin McBee, and Peter Salanki have nearly tripled their net worths.
OpenAI's valuation has risen from $157 billion in October 2024 to $500 billion. It is the highest-ever valuation for a private company.
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CEO Sam Altman doesn't have a material stake in non-profit OpenAI. However, he has become a billionaire because of his stake in the nuclear power company Oklo.
Who is Larry Ellison?
Larry Ellison is the chairman, chief technology officer, and cofounder of Oracle. He owns roughly 40 per cent of the company. He lives on the Hawaiian island of Lanai. He also owns around 50 per cent of the media company, Paramount Skydance.