He invested more than US$1b in Musk\u2019s buyout of Twitter and served on Tesla\u2019s board for many years.<\/p>\n
Musk\u2019s most easily estimated holding is Tesla, whose shares have fallen in 2025 amid languishing sales attributed partly to Musk\u2019s embrace of far-right political figures.<\/p>\n
Tesla this month unveiled a compensation proposal for Musk that could top US$1 trillion through 2035 if the company hits ambitious targets. Shareholders will vote on the plan in November.<\/p>\n
Ellison, a longtime supporter of President Donald Trump, holds more than 1.1 billion shares of Oracle, accounting for more than 40% of equity, according to S&P Capital IQ.<\/p>\n
Oracle CEO Safra Catz called the just-finished quarter \u201castonishing\u201d as the company signed \u201cfour multi-billion-dollar contracts with three different customers\u201d.<\/p>\n
Oracle projected that its cloud business revenues would grow 77% in the current fiscal year to US$18b. In subsequent years, revenues are expected to rise to US$32b, US$73b, US$114b, and US$144b.<\/p>\n
AI growth<\/p>\n
Oracle has sealed deals with OpenAI and other leading AI companies to build large data centres to train their AI models.<\/p>\n
On a conference call Tuesday, Ellison described the company as well positioned to be a dominant force in \u201cAI inferencing\u201d, where the technology will lead to a more profound level of automation affecting everything from assessing medical lab results to placing bets in financial markets.<\/p>\n
\u201cAI is going to automatically write the computer programs that will then automate your sales processes and your legal processes and everything else in your factories and so on,\u201d said Ellison, who emphasised the appeal of adopting the new AI capabilities to Oracle\u2019s legacy business around secure management of proprietary company data.<\/p>\n
Ellison built his fortune through Oracle, which he founded in 1977 as a data server provider for the CIA, among others.<\/p>\n
Early on, the company competed with Microsoft, IBM, and Sun Microsystems to provide the data infrastructure for the emerging digital economy.<\/p>\n
Ellison, who publicly sparred in earlier years with Bill Gates and other technology leaders, has also been known for heavy investments in professional sailing, with his Oracle team winning the America\u2019s Cup in 2010 and 2013.<\/p>\n
In 2009, Ellison became the owner of the Indian Wells Tennis Garden and BNP Paribas Open, near Palm Springs, California, which is sometimes referred to as tennis\u2019 unofficial \u201cfifth Grand Slam\u201d.<\/p>\n
Near 6.30pm GMT, Oracle shares were up around 36% at US$328.58, translating into a market value of around US$920b.<\/p>\n
– Agence France-Presse<\/p>\n","protected":false},"excerpt":{"rendered":"He invested more than US$1b in Musk\u2019s buyout of Twitter and served on Tesla\u2019s board for many years.…\n","protected":false},"author":2,"featured_media":15228,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[13475,138,3595,16394,17452,17447,17448,13313,17453,11556,15399,17449,17444,111,139,69,1118,16782,17446,4056,13310,17455,17445,7192,8183,2563,17451,17454,17450],"class_list":["post-15227","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-billionaire","tag-business","tag-by","tag-challenged","tag-cofounder","tag-ellison","tag-elon","tag-giant","tag-larry","tag-losing","tag-massive","tag-musk","tag-musks","tag-new-zealand","tag-newzealand","tag-nz","tag-of","tag-oracle","tag-oracles","tag-person","tag-poised","tag-riches","tag-richest","tag-risk","tag-software","tag-title","tag-wealthiest","tag-whose","tag-worlds"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/15227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=15227"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/15227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/15228"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=15227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=15227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=15227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}