Founder of Tech Giant Oracle, Larry Ellison’s wealth surges to new heights amidst the artificial intelligence (AI) boom. The billionaire edged past Bill Gates today to land the number four spot on the Bloomberg Billionaires Index. This is the first time Ellison is ranked above No. 5.

According to Bloomberg, Ellison’s net worth jumped by almost $6 billion on Monday and reached a staggering $130 billion in value. In contrast, his Microsoft counterpart Gates is currently $129.1 billion.

Larry stepped down as Oracle CEO in 2014 but remained the company’s chairman and chief technology officer and has accumulated most of his wealth from his stake in it. He owns a 42.9% stake in the company and is the largest shareholder, according to a 2022 SEC proxy statement.

The recent hype around AI stocks has led to a surge in the software company’s shares. Oracle’s stock has risen nearly 40% year to date. According to company earnings released Tuesday, it earned a record $50 billion in revenue in the 2023 fiscal year, led by its infrastructure and cloud services businesses.

Ellison said that Oracle has the highest performance, lowest cost GPU cluster technology that even NVIDIA themselves use, including one with more than 4,000 GPUs, for their AI infrastructure. He added that its Gen2 Cloud had become the number 1 choice for running Generative AI workloads.