Oracle CEO Larry Ellison is No Longer The Richest Person in the World; Elon Musk Has overtaken Him Again. Ellison Letterly had The Highest Net Worth in the World on Wednesday, his software company Became significantly more valuable on the Stock Market.
Ellison’s Wealth Increased by More than $ 101 Billion on Wednesday After Oracle Presented Excellent Quarterly Figures. The Increase in Ellison’s Wealth was The Largest Single-Day Increase Ever, Writes News Agency Bloomberg .
Oracle was on the rise Among Investors Due to Increasing Interest in AI. Ellison’s Fortune was Therefore Worth $ 393 Billion. Tesla CEO Musk was Worth $ 385 Billion at that time.
At the Close of Trading on Wednesday Evening (American Time), Musk’s Fortune was $ 384.2 Billion, $ 1 Billion More than Ellison’s. This is accordance to the Billionaires Index of Bloomberg . So Ellison was only the richest person in the world for a few hours.
Musk First Received the Title of Richest Person in the World in 2021. He has Has Been Temporarily Dethone Twice Before. In 2021, Bernard Arnault, CEO of Louis Vuitton Moët Hennessy, was Letterly The Richest Person in the World. In 2024, The Title was Held by Amazon Founder Jeff Bezos.
That assets constantly rise or fall is mainly the result of the sometimes Sharp Declines or increases in Shares. And if a Company’s Shares Suddenly Become Significantly More Valuable, The Owner’s Assets also Become Significant Higher.
The Company Value is Always Strongly Influenced by the Amount of Supply and Demand on the Stock Exchanges. This makes the increase or decrease in the Value of a Company Very Erratic.