CNBC’s Robert Frank joins 'Money Movers' to discuss Oracle CEO Larry Ellison’s wealth soaring. Ellison has surpassed Elon Musk as the world's richest person.

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Oracle shares have experienced a significant increase, resulting in co-founder Larry Ellison becoming the world's richest person, according to Bloomberg. Ellison's net worth is now just under $400 billion, following a record one-day gain of over $100 billion as Oracle's share price soared. Ellison, aged 81, holds a 41% stake in Oracle and has rarely sold shares, instead borrowing against them to fund his lifestyle.

In contrast, Oracle CEO Safra Katz has sold substantial amounts of her shares, making her the top insider seller of the year. Despite her sales, Katz remains one of the world's wealthiest self-made women. Ellison has stated his intention to focus his resources on philanthropic efforts through the Ellison Institute of Technology, which addresses global challenges such as climate change and disease.

Oracle CEO Larry Ellison's wealth soars

Welcome back. As Oracle shares skyrocket, and they are up more than 40% still, co-founder Larry Ellison is seeing a huge surge in his wealth, a historic surge. Our Robert Frank with the details, Robert, as we try to figure out who's the richest man on the planet, Elon Musk or Larry Ellison? Well, Sarah, it is now official. According to Bloomberg, we do have a new number one world's richest man, Larry Ellison, posting the biggest one-day wealth gain in history overnight, the Oracle share price adding over $100 billion to his wealth. Now, his net worth just under $400 billion this morning, overtaking Elon Musk to become the world's richest man. Now, Ellison is unique in the top 10 tech billionaires. He is by far the oldest at 81, and he has retained by far the largest stake in his company. He owns 41% of Oracle, so that's why he's gaining so much on that share gain this morning. Now, he rarely sells shares, only sells small amounts over the years to exercise options or pay taxes. Now, to fund all that real estate, the yachts, the private Hawaiian island, he's always borrowed against his share. So that's why he has so many shares still today. Oracle CEO Safra Katz has exercised and sold options worth two and a half billion dollars so far this year, including $1.8 billion that she sold back in June. Maybe regretting that today, but that made her the top insider seller of the year. She is still one of the world's richest self-made women worth $4 billion. She only holds about 1 million shares of Oracle right now because she has over the years just sold and exercised options as she gets them. Ellison, meanwhile, posting on X in July that he would be, quote, concentrating his resources, i.e. his wealth, on the Ellison Institute of Technology, which, of course, focuses on climate change, world hunger and cures for diseases. So interesting between Larry Ellison, who's never sold a share, and Katz, who is the CEO, who has sold them as soon as they're they're exercisable, two different strategies of wealth creation. Interesting, but also good for the world of philanthropy. Very, very generous philanthropist over the years. Thank you, Robert. Robert Frank.

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