Oracle’s stock is surging, and so is CEO Safra Catz’s net worth.
The 63-year-old tech executive saw her personal wealth increase by roughly $412 million in the New York Stock Exchange’s first six hours of trading on Wednesday, according to a Forbes estimate. The jump is tied to the software giant’s stock price, which has soared by roughly 40% after the company’s Tuesday afternoon report showed a massive $455 billion in remaining performance obligations, a measure of contracted revenue that has not yet been recognized.
Catz’s estimated net worth is now $3.4 billion, as of Wednesday afternoon, according to Forbes — up from $3 billion at the start of the day. Oracle’s stock performance has benefited co-founder Larry Ellison’s net worth even more: He’s now estimated to be the second-richest person in the world, with a net worth of $386.3 billion, up from $293 billion on Wednesday morning.
“Clearly, we had an amazing start to the year because Oracle has become the go-to place for AI workloads,” Catz said on Oracle’s Tuesday earnings call. Oracle’s growth projections come from a fast-growing cloud infrastructure business, and deals signed with several large artificial intelligence companies, she said: “We have signed significant cloud contracts with the who’s who of AI, including OpenAI, xAI, Meta, Nvidia, AMD, and many others.”
