Here's Why Larry Ellison Becoming the Richest Billionaire in the World Is Great News for Oracle Stock Investors.

Larry Ellison, the co-founder, chair, and CTO of Oracle (NYSE: ORCL), became the wealthiest person in the world on Sept. 10 after Oracle surged 36%. The stock popped in response to a highly ambitious five-year roadmap to grow Oracle Cloud Infrastructure (OCI) from around $10 billion in annual revenue to a staggering $144 billion.If Oracle achieves this goal, OCI will surpass the current size of the leading three cloud giants by revenue -- Amazon Web Services (AWS), Microsoft Azure, and Alphabet's Google Cloud.On Thursday, a 6.2% decline in Oracle, paired with a 6% jump in Tesla, led to Ellison slipping $1 billion below Elon Musk on the billionaire leaderboard, according to Bloomberg. Regardless, Ellison is now in a virtual tie with Musk as the richest person in the world because of his massive stake in Oracle.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool