Oracle’s Co – founder and Chief Technology Officer ( CTO), Larry Ellison briefly overtook Elon Musk as the world’s richest person with $383 .2 billion leading Musk by about $8billion, according to Bloomberg report.
But at the close of Market on Wednesday,Musk topped the chart beating Ellison by $1billion raking in $384 .2billion.
Earlier,,Forbes, reported figures rank Musk as still ahead with a variation of $435 billion in view of Musk’s ongoing ventures – Tesla,Space X,xAI,X.
Edison’s fortune experienced an extraordinary surge driven by a one – day 40% jump in Oracle’s stock following a blockbuster earnings report in AI cloud growth and multibillion dollar deals
According to Reuters, Ellison’s $100 plus billion single – day gain represents one of the biggest one – day surges in recorded billionaire wealth history.
Oracle’s CEO,,Safra Catz, revealed that the company had signed four multibillion dollar contracts with customers during the quarter and expects to secure several more in coming months.
He said ” Oracle has become a key provider of infrastructure that powers AI companies’ enormous demands for computing power
In July, Oracle announced a deal to supply Chatgpt’s parent company., Open AI, with 4.5 gigawatts of electricity to support its AI operations.
As Oracle’s largest individual shareholder, Ellison 81 is expected to reclaim his lead as the world’s richest person if the company’ stock maintains its upward momentum.
