Elon Musk loses world’s richest person title as Oracle’s Larry Ellison overtakes Tesla CEO. Check their net worth
Larry Ellison, the founding partner and chief technology manager of US -based software giant Oracle, became the richest person in the world on Wednesday, September 10, and the billionaire Elon Musk gained a single -day net value of $ 101 billion. Bloomberg.
According to the report, Larry Ellison’s net value won $ 101 billion in New York as of 10:10 (EDT), the software Major reported its three -month results exceeding market expectations.
According to the Bloomberg billionaer index, this one -day increase pushed Larry Ellison’s net value to billionaire Elon Musk’s $ 385 billion of $ 385 billion for $ 393 billion.
In addition, this increase of $ 101 billion is the largest one -day net value increase recorded by the index.
Larry Ellison’s Net Worth Parking?
The news report also emphasized that a large part of the net value of Larry Ellison depends on the shares of the software giant Oracle, which was founded in 1977.
Ellison was the general manager from the beginning of Oracle until September 2014.
Ellison became the richest person in the world after passing Elon Musk, which has held its title since 2021. Musk lost his title to Jeff Bezos, the founder of Amazon, and then to Bernard Arnault, CEO of LVMH.
In 2024, Elon Musk took back his position as the richest person in the world, which he has organized for more than 300 days until September 10th.
Oracle stock price today
Oracle shares increased by more than 40% during the Intrademay Trade Session on Tuesday to $ 338.53. The shares of the company jumped after explaining their three -month results.
Stocks also announced that the company has witnessed an increase in demand for cloud services from artificial intelligence (AI) companies.
Oracle CEO Safra Catz said, ız We expect a few billion dollars to register with a few billion dollars in the next few months, and RPO is likely to exceed half a trillion dollars, ”he said. Reuters report.
The increase in cloud business shows a wider change in the sector where companies such as Openai and Xai are trying to achieve great information processing capacity to compete against each other in the AI race.
According to the news report, Microsoft, Amazon Web Services and Google Cloud, Oracle, Alibaba, Coreweave and others hold a smaller slice, while the Cloud Computing Market is dominated by a share of 65%.
The shares of the software have more than 492% in the last five years and over 116% in the New York Stock Exchange.
