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Oracle Co-Founder Larry Ellison Briefly Tops Bloomberg Billionaires Index After Stock Surge
Oracle Co-Founder Larry Ellison Briefly Tops Bloomberg Billionaires Index After Stock Surge
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Oracle's shares soared 36% following a robust quarterly earnings report, propelling co-founder Larry Ellison past Elon Musk as the world's wealthiest person for a brief period. The software giant posted $14.9 billion in revenue with non-GAAP EPS climbing 6% to $1.47, while its Remaining Performance Obligations ballooned 359% to $455 billion.
A landmark $300 billion five-year cloud infrastructure deal with OpenAI fueled the explosive growth—the largest such agreement in industry history. "Demand for Oracle Cloud Infrastructure continues to accelerate," Ellison noted, forecasting additional multi-billion dollar client acquisitions in coming quarters. The billionaire maintains over 40% ownership in the company.
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