In a remarkable surge, Larry Ellison’s net worth increased by $18 billion on Tuesday, propelling him to the third spot on Forbes’ billionaires list. The 80-year-old tech mogul’s wealth now stands at $191.2 billion, surpassing Mark Zuckerberg and Bernard Arnault.

Oracle’s Stock Price Soars

The stock price of Oracle, the cloud computing firm co-founded by Ellison, rose by 14.7% to $160.50 per share, shattering its previous record. This significant increase followed the company’s impressive quarterly earnings report, which exceeded analyst expectations.

Oracle’s Market Capitalization

As a result of the stock price surge, Oracle’s market capitalization climbed from $386 billion to approximately $435 billion, making it the 17th-largest American public company. This surpasses well-established companies like Costco, Johnson & Johnson, and Procter & Gamble.

Partnership with Amazon Web Services

Oracle announced a partnership with Amazon Web Services (AWS) on Monday, allowing AWS customers to utilize Oracle’s artificial intelligence applications within the Amazon cloud. This deal completes Oracle’s “triple crown” of partnerships with cloud computing giants, including Google and Microsoft.

Ellison’s Business Empire

As the chairman and head of technology at Oracle, Ellison has built a business software firm with a wide-spanning reach. He co-founded the company in 1977 and has since become a major player in the tech industry. Additionally, Ellison is set to become the controlling shareholder of CBS parent Paramount and is a prominent donor to Republican causes.

Ranking Among the Wealthiest

Ellison’s increased net worth positions him behind only Elon Musk and Jeff Bezos as the wealthiest individuals globally. His remarkable business acumen and strategic partnerships have solidified his status as a leading figure in the tech industry.