#news #latestnews #economictimes
Oracle chief Larry Ellison has surpassed tech billionaire Elon Musk, securing the title as the world’s richest person for the first time.
Ellison’s fortune surged $101 billion as of 10:10 a.m. in New York. This brings an end to Musk’s year-long run at the top. His fortune surged by an astonishing $70 billion in a single day after Oracle posted quarterly results that beat expectations on Tuesday. As of 12 PM Wednesday, Oracle shares had jumped 31% in Frankfurt, the company’s biggest one-day gain since 1999, after it projected that revenue from its Oracle Cloud Infrastructure business could exceed half a trillion dollars.
