Larry Ellison

The increase lifted Larry Ellison's total fortune to $393 billion, ahead of Musk who sits at $385 billion

The jump in fortune is mainly attributable to Ellison’s 41 percent stake in software company Oracle.

Larry Ellison owns just under 40 percent of the software giant, Oracle. He was a board member for Tesla and now only trails CEO Elon Musk’s $250.7 billion fortune for the title of the world’s richest person.

The growth was driven by several large deals signed in the country in the previous quarter following demand from AI use cases, Oracle's top executives have said. The company continues to focus on India with newer offerings such as NetSuite's ERP solutions

“Oracle has now reached a point where we have connected our cloud with AWS, Google and Microsoft and we have put up Oracle Cloud Infrastructure (OCI) data centres with all of them,” Oracle chairman Larry Ellison.

The company is also betting big on SaaS, as it estimates the business opportunity in India to grow to $50 billion by 2030

With this, Microsoft will be the only other hyperscaler to offer Oracle Cloud Infrastructure Database Services. The announcement comes less than a week after Oracle reported slowdown in cloud sales growth making investors question its market competitiveness.

Larry Ellison had purchased some 98 per cent of Lanai’s properties for $300 million more than a decade ago.

Saudi Arabian investor Prince Alwaleed bin Talal, who had initially opposed the buyout, also agreed to roll his $1.89 billion stake into the deal rather than cashing out.

The '100 Richest Tech Billionaires In The World 2016' list has been topped by Microsoft founder Bill Gates with an estimated fortune of USD 78 billion.

The deal will bring together two companies linked to high-profile technology billionaire Larry Ellison. In addition to being Oracle's executive chairman, entities he owns hold about 40 percent of NetSuite's shares, according to a regulatory filing, a situation corporate governance consultants said would increase scrutiny of the deal.

Bill Gates held onto the number-one spot in the annual list of the 400 wealthiest Americans for the 22nd straight year, with net worth of USD 76 billion, down USD 5 billion from 2014.

Warren Buffett with USD 70.1 billion took the second slot on the list. Spain's Amancio Ortega (USD 65 billion) came in next.

The study, which is an analysis of CEO salaries at the 100 largest public US companies as measured by revenue, puts Microsoft's Indian-origin chief Satya Nadella on the top with a pay package of USD 84.3 million (Rs 525 crore) a year.

According China-based research firm Hurun's 2014 global rich list, Mukesh Ambani was ranked 41st in the list that was topped by Bill Gates, whose personal networth stood at a whopping USD 68 billion

Island Air, a Honolulu-based carrier with a handful of island-hopping planes that Ellison bought in February, confirmed discussions between Island and Phoenix-based Mesa Air Group, the parent company of Hawaii's interisland Go! Airlines.

Oracle Corp forecast a return to growth in new software sales this quarter, after blaming its rapidly expanding salesforce for a severe miss in third-quarter revenue that drove its shares 8 percent lower on Wednesday.

With networth of USD 21.5 billion, Mukesh Ambani has retained his title as India's richest person for sixth year in a row, while Mexican business tycoon Carlos Slim has emerged as wealthiest in the world for the fourth consecutive year.

CEO Larry Ellison announces Oracle's first public cloud at Oracle Open World 2012.

Hewlett-Packard Co told a judge on Tuesday that Oracle Corp should be ordered to make its software available on HP's Itanium-based servers for as long