Larry Ellison: The World Most Richest Person for a Day
Whenever we think about who is the richest person in the world, the first name that comes to mind is Elon Musk or Jeff Bezos. But this week the world saw a different story. Oracle’s co-founder and chairman Larry Ellison left behind the world most richest person for a day. Just imagine, at the age of 81, Ellison became the world’s richest person for a day, and his net worth reached close to $400 billion. During this time he even left behind Elon Musk, who always appears at the top of this list.
The Rise of the World Most Richest Person
Larry Ellison’s story is like a movie. On Wednesday, Oracle presented a growth forecast in which it said that AI companies are using its cloud computing services on a massive scale. After this news, Oracle’s shares jumped 38% in a single day. This jump gave such a boost to Ellison’s net worth that it went above Musk.
The benefits of the AI boom that chipmakers and data center companies are getting, have also become a golden opportunity for Oracle. Ellison’s company helps AI companies to build super clusters. This saves AI startups from the heavy cost of their operations. Due to this, giants like OpenAI and xAI have signed multi-billion dollar contracts with Oracle.
Elon Musk Net Worth vs Larry Ellison
If we compare, Elon Musk‘s net worth also hovers around this range, but Musk’s wealth depends more on the performance of Tesla and SpaceX. Ellison’s net worth has a direct connection with Oracle’s stock value. So when Oracle’s stock exploded, their fortune also skyrocketed.
But the story is not that simple. Oracle has been running an aggressive program to buy back its own shares in the last few years. Due to this, Ellison’s stake in the company reached 41%. When the value of shares increases, their wealth grows at an exponential speed. This is the reason why he became the world’s richest person for a day, but the very next day he came back with around $376 billion.
The Political and Business Connections
Ellison’s relations also make his story interesting. He was actively involved in Donald Trump’s fundraising events, and his name was also associated with the $500 billion AI infrastructure project “Stargate”. He also has a strong connection with Musk. In 2022, he wrote to Musk on the text to buy Twitter that he will invest $1 billion or “as much as you say”. This friendship and networking make his business journey even more powerful.
The World of AI, Regulations and Risks
In this new era of AI, the story is not limited to Larry Ellison. American politicians are also divided on the rules of this technology. Ted Cruz has proposed a “regulatory sandbox” in which AI companies can be kept free from rules for a few years so that they can do experiments. But critics say that by doing this, companies will be saved from accountability and common people will become test subjects.
In the midst of all this, there is another challenge of AI deepfakes. Now whatever video goes viral on the internet, there is an immediate doubt on whether it is real or fake. A video of Trump went viral in which people claimed that it was AI-generated, but experts later declared it to be genuine. Still, people’s trust in internet content is decreasing.
Larry Ellison at 81: More Relevant Than Ever
Today, when the world has entered the new era of AI, Larry Ellison’s name has again come in the spotlight. It was true for a day, but he showed everyone that the answer to who is the richest person in the world can change every day. Oracle’s aggressive strategy, AI partnerships and stock buyback programs have put him at par with Musk.
Ellison’s story also shows that age is just a number. Even at the age of 81, he is one of the most powerful and best businessmen in the world. While his company is facing challenges, he is playing a central role in the future of AI.
Disclaimer:
This article is written for informational purposes only. The analysis and facts given in it are based on publicly available reports and media updates. This is not an official statement of any company. Readers are advised to do their own research before taking financial decisions.
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