"This week, Oracle founder Larry Ellison, 81, became the world's richest person, albeit briefly, overtaking Tesla and SpaceX CEO Elon Musk. Ellison's wealth grew by $89 billion, reaching $383.2 billion on Wednesday, the largest one-day jump in history, per Bloomberg. It was his first time in the No. 1 spot. It was short-lived. By the end of the day on Wednesday, Musk, 54, had re-taken the top spot again, this time by only $1 billion."
"Ellison's wealth grew due to Oracle's strong earnings report on Tuesday, which had Wall Street "shocked." The earnings statement showed that in the first quarter of the year alone, Oracle had signed four multi-billion-dollar contracts. "It was an astonishing quarter," said Oracle CEO Safra Catz. Musk, meanwhile, has been in the top spot off and on since 2021 and had been perched there for the last 300 days before Ellison took over for most of the day Wednesday."
Larry Ellison's net worth jumped by $89 billion to $383.2 billion on Wednesday, marking the largest one-day increase in history. Oracle reported strong quarterly results and disclosed four multi-billion-dollar contracts signed in the first quarter. Oracle CEO Safra Catz described the quarter as astonishing. Ellison briefly overtook Elon Musk for the world's richest person title, marking his first time at No. 1. Musk had occupied the top spot intermittently since 2021 and had been there for about 300 days before the shift. By the end of the day, Musk reclaimed number one by roughly $1 billion, with Bloomberg listing Musk at $384 billion and Ellison at $383 billion.
Read at Entrepreneur
Unable to calculate read time
Collection
[
|
...
]