Oracle co-founder, Larry Ellison, briefly became the world’s richest person, knocking Elon Musk off the top spot, after shares in his tech giant skyrocketed.
Oracle, shares of which account for 87% of Ellison’s fortune, soared more than 40% after announcing a positive outlook for its cloud infrastructure business and artificial intelligence dealings – propelled by growing demand for data centre infrastructure.
Ellison’s wealth surged to $393 billion on Wednesday, surpassing Musk’s $385bn fortune, according to the Bloomberg Billionaires Index. It has since settled back down to $383bn, but could rise again as further growth by Oracle is expected.
