Bill Gates Overtaken By Larry Ellison In Billionaire Race Amid AI Boom

(L-R) Larry Ellison and Bill Gates watch a match between Gael Monfils of France and Alexander Zverev of Germany on Day 10 of the BNP Paribas Open at the Indian Wells Tennis Garden on October 13, 2021 in Indian Wells, California. In the recent developments, the surge in artificial intelligence (AI) has not only propelled Oracle Corp.'s (NYSE:ORCL) stock to record highs but also boosted the net worth of its founder, Larry Ellison, to unprecedented levels.  PHOTO BY SEAN M.HAFFEY/GETTY IMAGES

The surge in artificial intelligence (AI) has not only propelled Oracle Corp.’s (NYSE:ORCL) stock to record highs but also boosted the net worth of its founder, Larry Ellison, to unprecedented levels. Ellison, 78, has now surpassed Microsoft Corp. founder Bill Gates to become the world’s fourth-richest person.

On Monday, buoyed by the optimism around AI, Oracle’s stock and Larry Ellison’s net worth reached record highs. Ellison’s net worth has now risen to $129.8 billion, surpassing Bill Gates’ net worth of $129.1 billion, according to the Bloomberg Billionaires Index. This is the first time Ellison has ranked higher than fifth on the list.