US-based software giant Oracle’s co-founder and Chief Technology Officer Larry Ellison became the world’s richest person on Wednesday, 10 September, crossing billionaire Elon Musk with a single-day net worth gain of $101 billion, reported the news agency Bloomberg.According to the report, Larry Ellison’s net worth gained $101 billion as of 10:10 am (EDT) in New York, after the software major reported its quarterly results, which topped market expectations.Also Read | S&P 500, Nasdaq rise after soft PPI inflation data, Oracle rallies 35%This single-day increase pushed Larry Ellison’s net worth to $393 billion, compared to that of billionaire Elon Musk’s $385 billion, according to the Bloomberg Billionaires Index.Moreover, this $101 billion rise is the biggest single-day net worth increase ever recorded by the index.Where is Larry Ellison’s net worth parked?The news report also highlighted that a large portion of Larry Ellison’s net worth is tied to the shares of the software giant Oracle, which he co-founded in 1977.Ellison was the Chief Executive Officer of Oracle from its beginning until September 2014.Also Read | Global shares gain, tame US inflation boosts Fed rate cut hopesEllison became the richest person in the world after surpassing Elon Musk, who had held the title since 2021. In between, Musk lost his title to Amazon’s founder, Jeff Bezos and then to LVMH’s CEO Bernard Arnault.In 2024, Elon Musk reclaimed his position as the world’s richest person, which he held for more than 300 days until 10 September.Oracle Share Price TodayOracle shares jumped more than 40% to $338.53 during the intraday trading session on Tuesday, compared to $241.51 at the previous Wall Street close. The company’s shares jumped after it announced its quarterly results.The shares also jumped as the company disclosed that it was witnessing a demand surge for its cloud services from artificial intelligence (AI) companies.Also Read | Oracle stock drops nearly 3% on open in US markets“Over the next few months, we expect to sign up several additional multi-billion-dollar customers and RPO is likely to exceed half-a-trillion dollars,” said Oracle CEO Safra Catz, cited in a Reuters report.The rise in its cloud business shows a wider shift in the industry, with companies like OpenAI and xAI trying to capture massive computing capacity to compete against each other in the AI race.According to the news report, Microsoft, Amazon Web Services, and Google Cloud dominate the cloud computing market with a combined 65% share, while Oracle, Alibaba, CoreWeave, and others hold a smaller slice.Shares of the software major have gained more than 492% in the last five years and over 116% in the last one-year period on the New York Stock Exchange. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Elon Musk has been dethroned as the world’s wealthiest individual, with Oracle’s Larry Ellison surpassing him to take the top spot. Verify their financial status.
