Oracle co-founder Larry Ellison has overtaken Tesla Chief Elon Musk as the world’s richest person after a surge in the company’s stock lifted his net worth to $393 billion, according to the Bloomberg Billionaires Index.
Ellison’s fortune climbed by $101 billion in a single day to $393 billion after Oracle’s quarterly earnings report delivered a bullish outlook for its cloud and artificial intelligence business. Musk’s wealth, meanwhile, slipped to $385 billion amid falling Tesla shares and growing investor concerns over the Trump administration’s rollback of electric vehicle incentives.
Oracle stock jumped 41% on Wednesday, its biggest one-day gain since 1992, after the company reported surging demand for Artificial Intelligence (AI) driven data centre infrastructure.
Chief executive Safra Catz revealed that Oracle signed four multibillion-dollar contracts last quarter and expects more in the months ahead. Analysts say Oracle’s $455 billion backlog highlights its emerging role as a backbone of the AI revolution.
The company has also inked major deals, including a July agreement to supply 4.5 gigawatts of electricity to OpenAI, the maker of ChatGPT, to power its AI operations.
Ellison, who has been building Oracle for nearly five decades, is a close ally of U.S. President Donald Trump. His rise marks the first time Musk has lost the top spot in nearly a year.
Russian President Vladimir Putin said on Tuesday that Moscow does not seek a war with European powers, but is ready to fight if Europe chooses confron...
Azerbaijan’s Deputy Foreign Minister Yalchin Rafiyev says COP31 in Türkiye will strengthen regional climate cooperation, with Baku ready to share i...
President Nicolas Maduro on Tuesday approved a migrant repatriation flight from the United Sates days after Caracas said comments by U.S. President Do...
The FIFA Arab Cup 2025 has officially kicked off, bringing together 16 national teams from across the Arab world in a celebration of culture, competit...
Ukrainian President Volodymyr Zelenskyy said on Tuesday that he expects to hear from U.S. negotiators soon after they conclude their meetings in Mosco...
Elon Musk's dream of sending humans to Mars is becoming increasingly tangible, with SpaceX working on groundbreaking technology to make interplanetary travel a reality. But will the ambitious timeline hold up?
Elon Musk’s bold vision for the future of technology doesn’t stop at reshaping space exploration or electric cars. The Neuralink brain-chip technology he introduced in 2020 could mark the end of smartphones as we know them, and his recent statements amplify this futuristic idea.
Tesla CEO Elon Musk won shareholder approval on Thursday for the largest corporate pay package in history as investors endorsed his vision of morphing the electric vehicle (EV) maker into an artificial intelligence (AI) and robotics juggernaut.
Tesla has told the Delaware Supreme Court that Elon Musk’s $56 billion pay package should have been restored last year through a shareholder vote, as the company appeals a lower court ruling that rescinded the CEO’s record compensation.
A four-part docuseries executive produced by Curtis '50 cent' Jackson and directed by Alexandria Stapleton on Netflix is at the centre of controversy online.
Security concerns across Central Asia have intensified rapidly after officials in Dushanbe reported a series of lethal incursions originating from Afghan soil, marking a significant escalation in border violence.
Moscow and Kyiv painted very different pictures of the battlefield on Sunday, each insisting momentum was on their side as the fighting around Pokrovsk intensified.
Russia has claimed a decisive breakthrough in the nearly four-year war, with the Kremlin announcing the total capture of the key logistics hub of Pokrovsk just hours before United States mediators were due to arrive in Moscow.
U.S. President Donald Trump confirmed on Sunday that he had spoken with Venezuelan President Nicolas Maduro, but did not provide details on what the two leaders discussed.
President of Turkmenistan Serdar Berdimuhamedow has signed the “On Virtual Assets” law, which will officially legalise cryptocurrency mining and exchange activities in the country from 1 January 2026.
European Union ministers will urge senior U.S. trade officials to implement more elements of the July EU–U.S. trade deal on Monday, including cutting tariffs on EU steel and lifting duties on goods such as wine and spirits.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment