3 hours agoLarry Ellison gets past Elon Mück, becomes the richest man in the world
Periskopi(9 months ago)
(9 months ago)The founder of the Oracle technology company, Larry Ellison, has become the world's richest man on Wednesday morning after the company's shares suffered an increase of over 40 percent. According to Bloomberg data, Ellison's wealth reached nearly $400 billion by 10:00 a.m., leaving him behind [...]
The founder of the Oracle technology company, Larry Ellison, has become the world's richest man on Wednesday morning after the company's shares suffered an increase of over 40 percent.
According to Bloomberg data, Ellison's wealth amounted to nearly $400 billion by 10:00 a.m., leaving Elon Musk, the founder of Tesla, who so far held first place. Musk currently has a fortune of about $385 billion.
After Ellison and Musk on the list of the richest are the founder of Metas, Mark Zuckerberg, the Amazon's Jeff Bezos, and Google cofounders, Larry Page and Sergey Brin, writes.
The rapid increase in Ellison's wealth comes at a time when he and his family are expanding their presence in the sectors of artificial intelligence, media and politics.
Oracle shares rose significantly after the company's announcement of over $450 billion backlog for Clud services and multi-billion-dollar contracts with known artificial intelligence companies such as Navis and OpenAI ChatGPT supporters.
In the coming months, we expect to sign several more multibillion-dollar contracts,” said in the Oracle's statement. The company predicts that this figure will soon exceed half the trillion dollars.
The Ellison family has also expanded its presence in the media industry, as Larry's son, David Ellison, has recently finalised the purchase of the CBS's global company Paramount Global owner and MTV news for $8 billion. According to CNBC, 6 billion of this has been financed by the Ellison family's wealth./Periscopi/
