Oracle gained approximately $24 billion in value during the day. Ellison owns 40.6 percent of the company through roughly 1.16 billion shares, meaning every major movement in Oracle has an enormous effect on his personal fortune.
Oracle climbed during a broad technology rally as investors returned to major software companies. The company is also preparing to announce its latest financial results on September 10, when investors will learn whether its rapidly expanding AI and cloud business is keeping pace with the billions being spent on new data centers.
Ellison did not receive $9.8 billion in cash. His Oracle ownership simply became worth that much more. He finished ahead of Mark Zuckerberg, who gained approximately $6 billion, Michael Dell, who gained $5.3 billion, and Larry Page, who gained $4.2 billion.