American technology billionaire Larry Ellison - co-founder of Oracle software corporation - Photo: REUTERS
According to the Guardian newspaper, technology billionaire Larry Ellison - co-founder of software corporation Oracle - has just surprised the financial world by temporarily surpassing Mr. Elon Musk to take the position of the richest person on the planet.
The surge came after Oracle shares soared on better-than-expected earnings. Oracle shares surged more than 40% in early trading, pushing the company's market capitalization to nearly $960 billion.
With a 41% stake, Mr. Ellison's fortune reached $393 billion - surpassing Elon Musk's estimated $384 billion fortune, according to Bloomberg's rankings.
Ellison's reign, however, was short-lived. When the market closed, Oracle shares adjusted to $328 per share - up 36% from the previous - causing his net worth to drop to $378 billion , once again handing the number one spot to Elon Musk.
However, the two billionaires Ellison and Musk are still leading the list of the world's richest people, far surpassing famous names like Mr. Mark Zuckerberg (Meta) or Mr. Jeff Bezos (Amazon).
At the age of 81, Mr. Larry Ellison is not only rich thanks to Oracle. He also owns shares in Tesla and many other assets such as a yacht racing team, the Indian Wells Open tennis tournament, and the island of Lanai in Hawaii - Photo: REUTERS
According to experts, the breakthrough of Oracle stock this time comes from a wave of strong investment in artificial intelligence (AI).
In the AI race that is heating up day by day, Oracle is emerging as a strategic partner of "giants" like OpenAI - the unit behind ChatGPT - thanks to its strength in the field of cloud computing.
Source: https://tuoitre.vn/ti-phu-81-tuoi-bat-ngo-vuot-mat-ong-elon-musk-tro-thanh-nguoi-giau-nhat-the-gioi-20250911112737803.htm
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