Oracle founder Larry Ellison has topped the list of the world’s richest people for the first time in his career, dethroning Elon Musk, who had held the title for almost a year. Ellison’s fortune has grown by a record $101 billion in one day, reaching $393 billion. Bloomberg reported on September 10, citing the Billionaires Index.
The main reason for the 81-year-old Ellison’s rapid enrichment was the explosive growth of Oracle shares by 41% in one day. This happened after the company published a quarterly financial report, the results of which significantly exceeded analysts’ expectations, and also gave an extremely optimistic forecast for its cloud infrastructure business.
$101 billion is the most significant one-day increase in wealth ever recorded by the Bloomberg index.
The change in the leaderboard of the wealthiest people is not just a formality. It reflects a fundamental shift in how the market assesses the prospects of various technology companies in the age of artificial intelligence.