Elon Musk lost his crown. With a net assets of “only” 385 billion dollars, the patron of Tesla, Spacex and X is no longer the richest man in the world. Oracle’s co -founder, 81 -year -old Larry Ellison, whose luck jumped to 393 billion dollars from evening to the morning. The record increase of 101 billion in less than 24 hours is due to the extraordinary performance of the shares of the company in the stock exchange that on Tuesday and Wednesday flew to the stratosphere, over 40% at Wall Street, thanks to the products for artificial intelligence.
On Tuesday evening, after the closing of the markets, the CEO of Oracle Safra Catz announced, in fact, the signature of four multimiliard contracts in this quarter and plans to close many others in the coming months. Among the most consistent, the one signed in July to provide the Chatgpt company, Openai, 4.5 gigawatt of electricity to feed its artificial intelligence software. The damage and also the mockery for Musk who not only co -found Openii in 2015 but has also tried to buy it, without success, in February, and for years he has been in bad relationships with the current number one Sam Altman.
Becoming a power in the field of artificial intelligence, Oracle has also ridden the recent technological boom that prompted Nvidia to become the company that is worth the most in the world, over 4,000 billion dollars. Nicknamed the “bad guy of the tech” for his arrogance and lack of scruples, according to the Bloomberg Billionaire Index, the leap of Ellison’s wealth is the “greatest daily increase ever recorded”.
He and Musk have been “good friends” for years, according to the chronicles, and the new richest man in the world is also one of the greatest investors in Tesla. Six weddings behind him but unlike the prolific Elon only two children, at 12 years Larry discovered that he had been adopted 9 months by his mother’s uncles. He never met his father. Born in New York, he graduated in Chicago in 1966 and eleven. Oates, founded the Software Development Laboratories.
The new company immediately obtained an assignment from the CIA: developing a database program with “Oracle” code name. The same year he changed his name to the company and became CEO. It is not the first time that the former First Buddy of Donald Trump loses the title won for the first time in 2021: the first the same year, when it was dethroned by the CEO of the luxury company Lvmh Bernard Arnault and the second in 2024 in favor of the founder of Amazon Jeff Bezos.
The short political parenthesis of the billionaire has negatively affected his business so that during the period in the Trump administration the Tesla actions and sales collapsed. Nonetheless only a few days ago the board of the car manufacturer proposed a stratospheric compensation plan for him, the largest in history.
To access it, the billionaire will have to hit a series of ambitious objectives, including a capitalization of 8,500 billion for Tesla. If he succeeds he could break any record and become the first man in the world to be worth more than $ 1,000 billion.