Oracle founder, CTO and billionaire Larry Ellison disclosed that his second-largest personal investment is in Tesla.
He made the statements at the financial analyst meeting at the Oracle OpenWorld conference on Thursday.
"My second-largest investment, I will disclose it now, I am not sure people know I am very close friends to Elon Musk and I am a very big investor in Tesla," Ellison said on the call. "And so Tesla had a good day, and I think Tesla has a lot of upside."
Ellison also criticized media coverage of Musk, the Tesla and SpaceX CEO, suggesting it is overly harsh and shortsighted.
"I loved all the articles about how Elon doesn't know what he is doing, the pictures of him smoking dope, you know, and The Wall Street Journal writing all these articles [saying] he is going to have to go out for money," he said. "This is not just about The Wall Street Journal."
He asked, "Why should I believe you as opposed to my friend Elon while I am out here watching this rocket land, which I think is really cool, and you are there in front of your Apple Mac typing up an article saying Elon is an idiot?"
Ellison's net worth is estimated to be around $59 billion. He did not disclose the specific number of shares that he holds in Tesla.
— CNBC's Meghan Reeder contributed to this report.