Musk loses crown as richest to software giant Larry Ellison
16 hours ago
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- Larry Ellison surpasses Elon Musk as the world's richest person according to Bloomberg.
- Ellison's net worth is $393 billion, driven by Oracle's stock surge.
- Oracle's stock rose due to strong earnings and AI-driven contracts.
- Elon Musk's Tesla stock has dropped 14% this year.
- Forbes still ranks Musk as the richest, valuing him at $439 billion.
- Ellison's wealth could fund 5 million American families for a year.
- Oracle expects a 77% jump in cloud infrastructure revenue this year.
- Musk struggles with Tesla's declining sales and investor confidence.
- Tesla's EU sales dropped 40% amid Musk's political controversies.
- Musk shifts focus to Tesla's AI and robotics to counter bad news.