"In a stunning few minutes after markets opened, stock in Ellison's Oracle Corp. rocketed more than a third, enough for him to temporarily wrest the title from its longtime holder Elon Musk and hand it to the software giant's co-founder.But the stock market is fickle, and Musk was back on top by the end of the day, at least according to Bloomberg, as Oracle gave up a bit of its earlier gains."
"For those keeping score, the difference now is a billion, which isn't much given the size of the figures: Musk's $384.2 billion versus $383.2 billion for Ellison.The dueling fortunes are so big each could fund the lifestyles of 5 million typical American families for a year, about the entire population of Florida, allowing them to all quit their jobs. Or they could just tell all of South Africa to take a vacation for year and produce nothing, based on its gross domestic product."
Oracle's stock jumped more than a third minutes after markets opened following an earnings report and multibillion-dollar AI-related orders from customers including OpenAI, Meta and Nvidia. Larry Ellison owns about 40% of Oracle, and the surge added roughly $100 billion to his net worth, briefly placing him ahead of Elon Musk. Musk regained the top spot by the close as Oracle trimmed gains. Tesla shares have fallen 14% this year. Musk also controls private companies including SpaceX, his AI company xAI and X, contributing to his overall net worth.
Read at Fast Company
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