{"id":168600,"date":"2025-08-23T07:38:13","date_gmt":"2025-08-23T07:38:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/168600\/"},"modified":"2025-08-23T07:38:13","modified_gmt":"2025-08-23T07:38:13","slug":"technology-that-oracle-founder-larry-ellison-called-complete-gibberish-is-what-has-made-him-the-second-richest-man-on-earth-beating-jeff-bezos-and-mark-zuckerberg","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/168600\/","title":{"rendered":"Technology that Oracle founder Larry Ellison called “complete gibberish” is what has made him the second richest man on Earth, beating Jeff Bezos and Mark Zuckerberg"},"content":{"rendered":"

\"Technology Oracle founder Larry Ellison, who once mocked cloud computing as \u201ccomplete gibberish,\u201d is now the second-richest person on Earth, overtaking Amazon\u2019s Jeff Bezos<\/a> and Meta\u2019s Mark Zuckerberg<\/a>. With a net worth of $288 billion, he is behind Elon Musk who has a net worth of $3379 billion, as per Bloomberg Billioniare Index. The reason: Oracle\u2019s soaring success in cloud services, a business Ellison once ridiculed but that has since transformed the company and his fortune. In 2008, Ellison dismissed cloud computing as \u201ccomplete gibberish.\u201d But today, Oracle\u2019s cloud infrastructure is fueling record growth thanks to the boom in artificial intelligence (AI) which has increased the demand for computing power and storage. Oracle has emerged as a key supplier for big companies like OpenAI<\/a> and Elon Musk\u2019s xAI.In June this year, Larry Ellison\u2019s wealth jumped by more than $20 billion after Oracle\u2019s stock surged 13% to $199.85 \u2014 its biggest one-day gain in a year. According to a Bloomberg report then, the rally came after the company forecast a 70% increase in cloud infrastructure sales for the current fiscal year.<\/p>\n

Oracle\u2019s bet on AI<\/p>\n

Long known for its databases, Oracle struggled for years to find its place in cloud computing. But under CEO Safra Catz, the company has made massive bets on AI-driven cloud services. Oracle recently launched Stargate, a joint venture with OpenAI to provide unprecedented computing power.\u201cOracle is on its way to becoming one of the world\u2019s largest cloud infrastructure companies,\u201d Catz said in a statement. She added that revenue growth in 2026 will be \u201cdramatically higher.\u201dEllison told analysts about a historic order: \u201cWe recently got an order that said we\u2019ll take all the capacity you have, wherever it is\u2026 we never got an order like that before.\u201dTo meet such demand, Oracle\u2019s capital expenditure has soared. The company spent $21.2 billion in the last year and plans to raise that to $25 billion this year. Much of this will go into building mega data centers to support AI workloads.\u201cThe reason demand continues to outstrip supply is we can only build these data centers, build these computers, so fast,\u201d Ellison explained.<\/p>\n","protected":false},"excerpt":{"rendered":"Oracle founder Larry Ellison, who once mocked cloud computing as \u201ccomplete gibberish,\u201d is now the second-richest person on…\n","protected":false},"author":3,"featured_media":168601,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[738,2429,745,4061,92329,7798,305,20858,96601,158,67,132,68],"class_list":{"0":"post-168600","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-computing","8":"tag-artificial-intelligence","9":"tag-cloud-computing","10":"tag-computing","11":"tag-jeff-bezos","12":"tag-larry-ellison","13":"tag-mark-zuckerberg","14":"tag-openai","15":"tag-oracle","16":"tag-stargate-openai","17":"tag-technology","18":"tag-united-states","19":"tag-unitedstates","20":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115076943364503284","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/168600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=168600"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/168600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/168601"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=168600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=168600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=168600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}