With the surge in artificial intelligence (AI) investments, Oracle co-founder Larry Ellison is on the verge of taking the title of the world’s wealthiest person from Elon Musk. Ellison’s fortune skyrocketed by more than $100 billion on Wednesday as Oracle shares surged following the company’s forecast for massive revenue growth.
According to Forbes’ real-time billionaire’s index, Ellison’s total wealth has climbed to approximately $406 billion, while Musk’s is around $440 billion. However, a Bloomberg index placed Ellison’s wealth slightly ahead, naming him the richest person. The discrepancy in the tallies is due to different methods for estimating their vast holdings. The surge in Oracle’s shares came after the company announced it had signed four multi-billion-dollar contracts and projected its cloud business revenue would grow by 77% in the current fiscal year.
