The keynote address by Larry Ellison, chairman of the board and chief technology officer of Oracle, was delivered on September 16, 2019, in San Francisco, California. Larry Ellison, chairman of the board and chief technology officer of Oracle, gave the keynote address at the opening of the OpenWorld. The convention continues through September 19.
Larry Ellison is now worth more than Bill Gates, as of Friday's close.
A better-than-expected quarterly earnings report sent the stock of Oracle soaring. The company's biggest stakeholder is Ellison, who is now worth $135.7 billion.
Ellison, who co-founded the software company in 1977, was a huge beneficiary of the rally. He moved up to fifth place on the Forbes billionaires list, just ahead of Larry Page and Sergey Brin. Gates is the fourth-wealthiest person in the world.
The resurgence of Ellison comes as a bit of a surprise, considering that the next- generation tech companies, like Facebook, have been growing so much faster in recent years. The company's latest guidance topped estimates and INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals INRDeals
Ellison is likely to be very happy with the fact that his personal wealth has risen back above that of the founders. In April, the Supreme Court ruled in favor of Google in a long-running copyright dispute over the software used in theANDROID mobile operating system. The case was seen as a landmark dispute over what types of computer code are protected under American copyright law.
One of the companies that is ahead by market share is Google, as Oracle is playing catch-up in cloud infrastructure. ThomasKurian joined the internet company from Oracle, where he spent more than two decades, rising to become president of product development.
The stock price of Ellison's company, Oracle, has appreciated by about $44 billion this year, and Ellison gets the majority of his wealth from that. He made an additional fortune from a bet three years ago.
Ellison bought a $1 billion stake in the company. The market cap of the electric car makers has increased by 1,300% in the past three years, and Ellison's shares are now worth $16 billion. This year, the company is up 44%.
The cloud momentum of Oracle will continue.
