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Larry Ellison, co-founder of Oracle. Image taken from Oracle's press room website.
Larry Ellison, co-founder of Oracle, is today the second richest man in the world according to Forbes magazine. Image taken from Oracle's press room website.

Larry Ellison competes with Bezos, Musk, and the rest of the tycoons for the first place in the ranking of billionaires

The company has almost tripled its stock market value, while its founder competes for the first place in the ranking of billionaires.

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Elon Musk, Jeff Bezos, and Mark Zuckerberg are the recurrent personalities in the billionaires ranking. They always make headlines for their controversial positions in the competitive technology market.

Elon Musk is in the middle of a political campaign supporting Republican candidate and former U.S. President Donal Trump, while others are on the front pages of newspapers because they have to go to Congress to explain the nature of their businesses.

But there is an equally successful, if quieter, tycoon who has the possibility next days of becoming the richest man in the world: Larry Ellison, the co-founder of Oracle, the great technology company founded in 1977, along with Bob Miner and Ed Oates.

According to Forbes magazine, Ellison has a fortune of US$206.7 billion.

Oracle has multiplied its market capitalization 2.87 times in the last two years, growing from US$164 billion to more than US$471 billion.

The explanation for this trend is simple: Oracle's commitment to cloud services infrastructure and Artificial Intelligence. It is a winning mix.

Cloud services simply consist of data storage for businesses and governments. This business is expected to continue growing because of the second reason for Oracle's success: Artificial Intelligence operates based on large volumes of information converted into bytes. So the world will need more and more capacity to store and process data so that machines can answer humanity's questions.

Oracle and Ellison have hit the bull's eye and that has caused investors to start demanding the company's stock. What makes Oracle attractive is that it is at the core of those two businesses that will be the most important soon.

According to S&S Insider, the cloud solutions business is estimated to be worth US$2.6 trillion by 2032, increasing fourfold over the next decade.

On the other hand, the AI business could be worth more than $1.3 trillion over the next decade, according to Bloomberg Intelligence.

The increase in the production of information by companies and governments and the need for storage and processing explain this trend: someone will have to store it and ensure that the information circulates and remains available. Oracle can do this properly.

So many are already looking to Ellison as the next great tech mogul who has been able to ride the great waves of transformation the business has faced in recent years. This has prepared him for the other big wave ahead, which he has already ridden successfully.

 

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