Breaking News: Larry Ellison Overtakes Elon Musk to Claim Title of World’s Richest Man!

Elon Musk has recently lost his spot as the world’s richest person to Larry Ellison, co-founder of Oracle. As of Wednesday, Ellison’s fortune jumped to $393 billion, edging out Musk’s $385 billion, according to the Bloomberg Billionaires Index.

This shift in wealth comes after Oracle’s stock surged over 40%. The company surprised investors with an optimistic outlook for its cloud infrastructure and AI initiatives, fueling significant growth. Ellison has built his wealth over the past 50 years, largely tied to Oracle’s success.

Musk had held the title of the richest person for almost a year. Despite this, Tesla’s shares have fallen this year, raising concerns among investors. These worries have been intensified by the rollback of electric vehicle initiatives under the current administration, alongside a backlash regarding Musk’s political involvement. Musk’s pay package could potentially skyrocket to over $1 trillion if he meets ambitious goals set by Tesla’s board within the next decade.

Meanwhile, demand for data center infrastructure is soaring, benefiting Oracle immensely. The company predicts a 77% revenue increase in its cloud business this year, expecting it will reach $18 billion. They’ve signed multiple multimillion-dollar contracts recently, with more anticipated soon.

Ellison, now 81, is well-known for his lavish lifestyle and significant public presence since the 1990s. Although he stepped down as CEO in 2014, he remains chairman and chief technology officer at Oracle. His close ties to former President Trump have kept him in the spotlight. Recently, he participated in a project called Stargate, focused on enhancing AI infrastructure in the U.S.

Interestingly, Oracle is also seen as a potential buyer of TikTok, an app owned by China’s ByteDance, which faces a possible ban in the U.S. unless it sells its ownership stake. Ellison’s ambition doesn’t stop there; he has invested heavily in media through his son, David, who recently closed an $8 billion deal to acquire Paramount’s CBS and MTV.

In a notable twist, when asked about Musk buying TikTok, Trump remarked he’d prefer to see Ellison make the purchase. This dynamic between Ellison and Musk highlights the evolving landscape of wealth and power in the tech industry.

With such significant changes, it’s clear that the race for the title of the world’s richest person is more than just numbers; it reflects deeper trends in technology, investment, and market confidence.



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