"Larry Ellison has become the world's richest person for the first time, ending Elon Musk's nearly year-long reign in the top spot. Ellison's fortune soared $101 billion as of 10:10 a.m. in New York after Oracle Corp. reported quarterly results that surpassed expectations and said there's more growth to come. Also see: Oracle, Salesforce slash hundreds of Bay Area jobs"
"The increase lifted his total fortune to $393 billion, ahead of Musk who sits at $385 billion, according to the Bloomberg Billionaires Index. It's the biggest one-day increase ever recorded by the index. Musk became the world's richest person for the first time in 2021 before losing the title to Amazon.com Inc.'s Jeff Bezos and LVMH's Bernard Arnault. He reclaimed it last year and had held it for just over 300 days. Ellison, 81, who co-founded Oracle and is now chairman and chief technology officer,"
Larry Ellison became the world's richest person after Oracle reported stronger-than-expected quarterly results and signaled further growth. His net worth rose by $101 billion to $393 billion following a 41% one-day surge in Oracle shares, the largest single-day increase in the Bloomberg Billionaires Index. Oracle had already gained 45% year-to-date through Tuesday. Elon Musk's net worth stood at $385 billion amid a 13% year-to-date decline in Tesla shares. Ellison, 81, holds most of his wealth in Oracle stock and serves as the company's chairman and chief technology officer.
Read at www.ocregister.com
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