Larry Ellison dislodges Elon Musk as richest person
20 hours ago
- #Tech Industry
- #Billionaires
- #Stock Market
- Larry Ellison surpasses Elon Musk as the world's richest person.
- Oracle shares surge 40%, valuing the company at $958bn and Ellison's stake at $393bn.
- Ellison owns 41% of Oracle, benefiting from strong financial results and AI-driven cloud demand.
- Ellison has diverse investments, including Tesla, a sailing team, and a Hawaiian island.
- Ellison and Musk share a mentor-mentee relationship, with Ellison investing $1bn in Musk's Twitter purchase.
- Both Ellison and Musk have ties to Donald Trump, though Musk's relationship with Trump soured.
- Oracle's growth is fueled by AI companies needing its cloud services.
- Musk previously held the top spot in 2021 and again in 2023 before losing it to Ellison.