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.
Mexico’s President Claudia Sheinbaum on Thursday thanked FIFA and its president, Gianni Infantino, for reaffirming that the country’s 2026 World C...
A student from Azerbaijan was detained by U.S. immigration agents inside a Columbia University residential building on Thursday morning, was released ...
Argentina and Uruguay on Thursday became the first founding members of the Mercosur bloc to ratify a long-awaited free trade agreement with the Europe...
Nuclear negotiations between the United States and Iran in Geneva have been described as “positive”, according to a report by Axios citing a U.S. ...
Pakistan’s Foreign Minister Ishaq Dar received a phone call from Qatar’s Deputy Foreign Minister Mohammed bin Abdulaziz Al-Khulaifi on Thursday, a...
U.S. Department of Justice (DOJ) documents have revealed the late Jeffrey Epstein’s extensive connections across politics, business and academia, prompting resignations, investigations and renewed public scrutiny of his influence.
Despite its economic might, the European Union is often labelled a “geopolitical dwarf.” The only region where it acts as an indisputable player, able to assert its will with relative ease, is the Western Balkans, along with parts of Eastern Europe.
Russian troops in Ukraine have lost access to Starlink internet terminals after Kyiv and SpaceX moved to block unauthorised Russian use, a disruption Ukrainian officials described as a major blow to Moscow’s battlefield operations.
Tech billionaire Elon Musk said the search at his social media platform X offices in Paris on Tuesday by French authorities was a "political attack".
A F-16 fighter jet of the Turkish Air Force crashed near a highway in western Türkiye early on Wednesday (25 February), killing its pilot, officials and media reports confirmed.
U.S. President Donald Trump declared a “golden age” for America in his first second-term State of the Union on Tuesday evening, delivering the longest-ever address at more than 90 minutes. Here are the main takeaways.
President Donald Trump delivered the first State of the Union address of his second term to Congress on Wednesday (25 February), declaring that America’s “golden age” had begun and that the country was experiencing a “turnaround for the ages.”
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 25th of February, covering the latest developments you need to know.
Peace-making has a habit of creating new enemies - especially when it reduces someone else’s leverage. As Azerbaijan and Armenia move toward a settlement architecture that no longer depends on Moscow as the indispensable broker, pressure has not vanished; it has shifted shape.
Global debt surged to a record $348.3 trillion at the end of 2025, after nearly $29 trillion was added over the year, marking the fastest annual increase since the pandemic, according to the Institute of International Finance (IIF) report released on Wednesday.
Millions of Colombian roses have arrived in the United States just in time for Valentine’s Day, keeping the country on track as the world’s second-largest flower exporter. Between 15 January and 9 February, Colombia shipped roughly 65,000 tons of fresh-cut blooms.
Russia’s car market is continuing to receive tens of thousands of foreign-brand vehicles via China despite sanctions imposed after Moscow’s full-scale invasion of Ukraine in 2022, a journalistic investigation has found.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment