Elon Musk just lost his title as richest person
16 hours ago
- #AI
- #Tech
- #Wealth
- Larry Ellison surpasses Elon Musk as the world's richest person with a net worth of $393 billion.
- Oracle's stock surges 41% after strong earnings, driven by AI demand and multibillion-dollar contracts.
- Oracle signs a deal with OpenAI to provide 4.5 gigawatts of electricity for AI infrastructure.
- Analysts highlight Oracle's $455 billion backlog in AI services as 'staggering.'
- Oracle's market value nears $1 trillion, becoming a key player in AI cloud infrastructure.
- Ellison's wealth increase is the largest one-day jump ever recorded by Bloomberg.
- Tech stocks dominate the S&P 500's most valuable companies, all tied to AI growth.
- Elon Musk previously lost the richest title twice, in 2021 and 2024.
- Ellison, Oracle's co-founder, owns 98% of Hawaii's Lana’i and revived the Indian Wells tennis tournament.
- Ellison has close ties with former President Donald Trump and was linked to a potential TikTok acquisition.