Larry Ellison's fortune soars $12 billion as Oracle cloud sales jump

Larry Ellison’s net worth soared $12 billion after Oracle Corp. reported a surprise increase in revenue from sales of its cloud-computing software.

Ellison ranks ninth among the world’s richest people with a $119.5 billion fortune, according to Bloomberg Billionaires Index. He’s just behind former Microsoft Corp. head Steve Ballmer and one place ahead of Warren Buffett.

Ellison, 77, owns more than 40 per cent of Oracle, the enterprise software company that he co-founded in 1977 and where he still serves as chairman and chief technology officer. While Ellison’s Oracle shares make up around 75 per cent of his fortune, he also own