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Larry Ellison is the world’s richest person, but Musk rose to the top again shortly after
Oracle co-founder Larry Ellison briefly held the title of the world’s richest person on Wednesday. However, Tesla CEO Elon Musk returned to the top spot at the end of the day.
Larry Ellison is the world’s richest person, but Musk rose to the top again shortly after
The Bloomberg Billionaires Index said Ellison’s wealth rose to $393 billion or $393 billion yesterday morning. At that time, Elon Musk’s wealth was $385 billion or $385 billion. As Oracle’s share price rose 40 percent, Ellison’s wealth also increased suddenly. However, when Ellison’s share price fell slightly at the end of the day, Musk returned to the top spot. BBC News
Elon Musk has held the title of the world’s richest person for more than a year. Tesla’s share price has recently fallen, which has reduced his wealth. Investor uncertainty in the electric car market and consumer reactions to Musk’s political involvement are among the reasons for this decline.
On the other hand, Oracle is moving at a new pace with the rise of data center and artificial intelligence-based businesses. The company said that this year, its cloud business revenue will increase by 77 percent to $18 billion or $18 billion. The main reason for this rise is the increase in demand for AI-focused companies.
Ellison founded Oracle in 1977. He was the company’s CEO until 2014. He is currently the chairman and chief technology officer. At the same time, he is known as a close ally of US President Donald Trump.
Recently, Ellison’s name has also come up in discussions about the ownership of TikTok. Trump has publicly said that he wants Ellison to buy the app. In addition, the deal to acquire Paramount for about $8 billion or $8 billion, led by Ellison’s son David, was recently finalized.
Musk may become the world’s first millionaire
Global research firm Informa Connect Academy says that Elon Musk may own a trillion dollars by 2027; he is on that path.
Informa also said that Musk’s wealth is increasing at an average rate of 110 percent every year. If Musk’s wealth increases at or near this rate, there is no doubt that he will become the world’s first millionaire. CNN News
However, it is not that Musk has no rivals in this regard. According to Informer, Jensen Huang, CEO or CEO of Nvidia, one of the world’s most valuable companies, may become a trillionaire or millionaire by 2028. According to Bloomberg, Huang, CEO and co-founder of Nvidia, is now worth $154 billion or $105.4 billion.
Elon Musk’s wealth increased rapidly in late 2024. At that time, he participated in Donald Trump’s election campaign. He even became Trump’s right-hand man. But after the election, when their honeymoon ended, Trump’s wealth began to decline. Despite this, he is somehow firmly seated in the position of the world’s richest person, with only a momentary interruption.
