A remarkable surge in Oracle’s (ORCL) stock price has catalyzed an extraordinary financial milestone for its founder, Larry Ellison. Following an overwhelmingly positive earnings report, Ellison’s net worth skyrocketed by over $100 billion in a single day. This monumental gain significantly narrows the gap between him and the world’s current wealthiest individual, Elon Musk.

The unprecedented wealth increase is directly tied to a dramatic rise in Oracle’s share value, which climbed nearly 36% on Wednesday. This surge was fueled by the company’s audacious projections for its cloud computing division, stunning Wall Street and investors alike. Oracle’s forecast anticipates cloud infrastructure revenue will explode from $10 billion in the most recent fiscal year to a staggering $144 billion by fiscal 2030.

Beyond the immediate stock movement, the company’s future revenue pipeline appears exceptionally robust. Oracle announced that its remaining performance obligation, a key metric representing contracted revenue yet to be recognized, has ballooned to $455 billion. This figure represents a staggering 359% increase from the previous year, signaling immense confidence in its long-term growth trajectory.

At 81 years old, Ellison remains deeply involved as Oracle’s chief technology officer and chairman, and his decision to maintain his vast stake of over 1.1 million shares for more than 25 years has now been handsomely rewarded.

Ellison’s recent focus has extended far beyond the database software realm. He has strategically positioned Oracle at the nexus of technology’s most promising sectors. His influence was pivotal in the company’s $28 billion acquisition of the electronic health records company Cerner in 2022, marking a major push into healthcare technology. Furthermore, Ellison has emerged as a critical power broker in artificial intelligence infrastructure, forming a landmark alliance between Oracle and ChatGPT-creator OpenAI.