Oracle's stock surge has pushed co-founder Larry Ellison's net worth higher by tens of billions of dollars the last two days and puts him ahead of Tesla CEO Elon Musk as the richest person in the world.

The software giant's stock surged in after-hours trading following an earnings release that featured a significant uptick in sales and signaled a bullish outlook for Oracle's cloud business.

The positive news sent Oracle stock more than 32% higher in after-hours and pre-market trading – gains which continued after the market opened, with Oracle stock up over 39.6% as of Wednesday morning.

Ellison holds about 1.16 billion shares in the company, which amounts to roughly 41% of Oracle's total outstanding shares. Ellison's net worth jumped about $111 billion as of 11 a.m. ET.

Elli

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