Larry Ellison, founder and largest shareholder of Oracle, has climbed two spots on the Bloomberg Billionaires Index due to the company's positive outlook. His net worth increased by $14 billion overnight, reaching $152 billion. Ellison's wealth surge is mainly because he owns over 40% of the cloud applications business, which saw its shares rise 13% after posting strong year-end financial results. Ellison surpassed Steve Ballmer, former CEO of Microsoft, and Sergey Brin, founder of Alphabet, in Bloomberg's Billionaires Index. The exponential growth of wealth among tech titans is largely attributed to the prominence of artificial intelligence (AI).

Oracle's CEO, Safra Catz, mentioned the company's successful sales contracts driven by the high demand for training AI large language models. Oracle also signed an agreement with Google to interconnect their clouds, making the Oracle database available in the Google Cloud. Other tech figures, including Sundar Pichai of Alphabet and Bill Gates of Microsoft, have also witnessed wealth growth due to AI-related developments in their respective companies. Mark Zuckerberg's wealth increased as a result of his company's streamlining measures, along with advancements in artificial intelligence strategies. His wealth rose from $63 billion to $181 billion.