Larry Ellison overtakes Jensen Huang as world’s 7th-wealthiest person

Oracle co-founder Larry Ellison has overtaken Nvidia CEO Jensen Huang to become the world’s seventh-wealthiest person. Ellison’s net worth rose to approximately $190.6 billion following a rally in Oracle shares, which increased by 2.6% on Monday. Conversely, Jensen Huang’s fortune decreased by nearly $4 billion as Nvidia shares fell 2.6%.

Parallel to these wealth shifts, Oracle is reportedly planning a new round of layoffs to reduce payroll costs. This move comes as the company incurs significant debt to fund massive investments in artificial intelligence infrastructure. Internal documents suggest that cuts could impact double-digit percentages of certain teams, with the goal of reducing headcount by September 1.

Oracle’s aggressive expansion into AI-driven cloud infrastructure has required heavy capital expenditure. In its 2026 fiscal year, the company spent $55.7 billion on infrastructure, resulting in a cash deficit of $23.7 billion. To support this growth, Oracle raised $43 billion through debt during that period and expects to raise further capital through a mix of debt and stock in the current fiscal year.