Larry Ellison Rides AI Boom to Highest Wealth Ranking Ever

The optimism around artificial intelligence boosted both Oracle Corp.’s stock — and founder Larry Ellison’s net worth — to record highs on Monday.

Ellison, 78, passed Microsoft Corp. founder Bill Gates to become the world’s fourth-richest person with a net worth of $129.8 billion, according to the Bloomberg Billionaires Index. It’s the first time that Ellison is richer than Gates, whose net worth is currently $129.1 billion, and the first time Ellison has ranked higher than fifth on the list, according to Bloomberg data.

Larry Ellison

Photographer: David Paul Morris/Bloomberg

Investor interest in AI and a broader tech rally have been a tailwind to Oracle’s stock, which has climbed 42% ...