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The pro-independence coalition Kanak and Socialist National Liberation (FLNKS) has formally withdrawn its signatures from the so-called “Accord de B...
The U.S. government has shut down after Congress failed to approve funding. Non-essential services are paused, thousands of federal workers are left u...
NATO navies are ramping up defenses in the Baltic and North Seas as Russia’s so-called “shadow fleet” of deceptive vessels grows rapidly, raisin...
The Pentagon recommitted itself in a statement on Tuesday to scaling back its military mission in Iraq, a process that a U.S. official said will see B...
U.S. stock index futures fell on Wednesday as investors assessed the implications of the federal government shutdown, which threatens to disrupt the r...
Billionaire Elon Musk's satellite internet service Starlink was back online for most users after a brief outage on Monday, according to tracking website Downdetector.com.
Elon Musk’s Starlink is experiencing a widespread service outage, the company announced on its website on Monday. Downdetector had recorded more than 43,000 users in the United States were affected as of 12:35 a.m. ET (0435 GMT).
Billionaire Elon Musk has called for “revolutionary government change” in the United Kingdom, addressing a far-right anti-immigration rally in London via livestream on Saturday.
Pope Leo has criticised corporate pay packages that grant executives hundreds of times more than workers, citing Tesla’s $1 trillion compensation plan for CEO Elon Musk. The remarks came in excerpts from his first media interview, released on Sunday by Catholic news site Crux.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
U.S.-based aviation company Boeing is preparing to produce a new narrow-body, single-aisle aircraft to replace its 737 Max model, sources report.
The Organization of Petroleum exporting countries OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said sources familiar with the talks.
Chinese electric vehicle manufacturer BYD Co expects exports to account for around 20% of its global sales this year, supported by the launch of new models, the South China Morning Post reported on Monday.
Italy’s ruling League party has said domestic banks should contribute around €5 billion ($5.85 billion) towards the 2026 budget.
U.S. stock markets ended higher on Friday, following largely in-line inflation figures, although indices recorded losses over the 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