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.
The ongoing conflict involving Iran is set to disrupt global travel on a massive scale, with nearly 28 million outbound trips from the Middle East ...
China is strengthening its presence in Central Asia by increasing gas imports from Turkmenistan and expanding trade and infrastructure cooperation ...
Transport groups across the Philippines launched a nationwide strike on Thursday in protest against rising oil prices. The action affected 15 to 20...
Russia has once again signalled its willingness to restore relations with Georgia, with a senior official claiming...
Türkiye’s ambassador to the United Nations, Ahmet Yildiz, has called for Syria to be shielded from the effects of the ongoing regional w...
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".
Morocco has been declared winners of the 2025 Africa Cup of Nations and Senegal stripped of their title by the Confederation of African Football (CAF).
One person has died after a cable car cabin at the Titlis ski resort in central Switzerland plunged down a snow-covered mountainside on Wednesday (18 March) amid strong winds.
Iranian President Pezeshkian has confirmed the killing of intelligence minister Esmail Khatib calling it a "cowardly assassination", following reports that Israel carried out an overnight strike.
U.S. President Donald Trump said Israel struck Iran’s South Pars gas field without U.S. or Qatari involvement, and warned that any Iranian attack on Qatar would prompt massive retaliation. The comments come as regional tensions soar after Tehran fired missiles at Gulf energy sites.
When a NATO-led coalition helped to overthrow Muammar Gaddafi’s dictatorship in Libya in 2011, it looked like the sun had risen on a new era. But within years, the nation was gripped by a second civil war, declining living standards and collapsing institutions. Could Iran follow suit?
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
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