Larry Ellison of Oracle gains $913 Million prior to the official launch of Oracle cloud

According to Forbes new ‘Real Time Billionaire’ list that tracks the profits and losses of select-few businessmen in the world Larry Ellison of Oracle got a boost of $913 Million in his net worth on Wednesday.

The increase in his dollar worth came mainly because of the announcement that he made on the same day. Oracle announced that it will soon be launching its own clouding service allegedly called Oracle Cloud, though no word has been released on its official name.

Soon after the announcement, Oracle’s share price rose 3 percent at the day’s close on Wednesday, making Ellison the day’s second most successful businessman.

Ellison has promised to spend some time on Twitter with his followers on Wednesday afternoon at 5:00 sharp. However, no word has emerged at the social network as of yet. The Oracle CEO has a following of 20,000 people on the network, despite the fact that he gets very little time from his busy schedule to spend online.

The World’s 3^rd richest person has been in the thick of bringing the company back to the prosperous road of success. Of late, the company has had a couple of set-backs in professional computing. The server-business is a little down and Sun Microsystems is not generating enough revenue, which is an essential part of the Oracle group.

The clouding service is a very promising strategy to get into the consumer business. The amazing thing about the service is that it can be accessed through internet directly instead of installing applications and stand-alone software on personal computers. And Oracle being Oracle has a reputation for good quality.

The most successful businessman on Wednesday was Carlos Slim from Mexico, who gained $1 Billion in stock market value. This was made possible by his huge investment in telecom giant, America Movil.

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Posted by Usman Khalid on Jun 7 2012. Filed under Business, Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.