Oracle co-founder Larry Ellison has seen his net worth surge by a staggering $15 billion, thanks to a record-breaking rise in Oracle’s stock price. The software giant’s shares soared to an all-time high following a series of robust financial results and optimistic future projections.

Ellison, who is Oracle’s largest shareholder, witnessed his wealth skyrocket as Oracle’s stock climbed by 20% in a single trading session. The dramatic increase came on the heels of the company’s latest earnings report, which exceeded analysts’ expectations and showcased significant growth in cloud computing services.

In its fiscal fourth quarter, Oracle reported revenues of $13.8 billion, marking a 17% year-over-year increase. The company’s cloud services and license support division, which is crucial to Oracle’s growth strategy, saw a 30% jump in revenue. These impressive figures have bolstered investor confidence, driving up the stock price to unprecedented levels.

Ellison, who now holds a net worth of approximately $140 billion, continues to be a dominant figure in the tech industry. His latest windfall cements his position among the world’s richest individuals. Ellison’s holdings in Oracle, coupled with his investments in other ventures, contribute significantly to his immense fortune.

Market analysts attribute Oracle’s recent success to its strategic pivot towards cloud computing and artificial intelligence. The company has invested heavily in these areas, aiming to compete with industry leaders such as Amazon Web Services and Microsoft Azure. Oracle’s Autonomous Database and Fusion Cloud Applications have been particularly well-received, driving adoption among enterprise customers.

CEO Safra Catz expressed optimism about Oracle’s future during the earnings call. “Our cloud infrastructure and applications businesses are performing exceptionally well, and we are seeing strong customer demand,” Catz said. “We are confident in our ability to continue this momentum and deliver sustained growth.”

The broader market reaction has been overwhelmingly positive, with tech stocks rallying on the back of Oracle’s performance. Investors are buoyed by the company’s strategic direction and its ability to capitalize on the growing demand for cloud-based solutions.

Ellison’s increasing wealth also underscores the significant influence of tech entrepreneurs in the global economy. As one of the pioneers of the software industry, Ellison’s journey from a start-up founder to a billionaire tycoon reflects the transformative impact of technology on wealth creation.

Beyond his role at Oracle, Ellison is known for his interests in various sectors, including real estate and yachting. His ownership of the Hawaiian island of Lanai and his investments in Tesla further highlight his diverse portfolio and business acumen.

As Oracle continues to thrive, Ellison’s vision and leadership remain central to the company’s ongoing success. The recent stock surge not only boosts his personal fortune but also reaffirms Oracle’s standing as a key player in the competitive tech landscape. With the company poised for further growth, both Oracle and Ellison are set to remain at the forefront of technological innovation and financial prosperity.