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Oracle Co-Founder Larry Ellison Overtakes Elon Musk as World's Wealthiest

A significant increase in a tech company's stock value, driven by strong financial performance and...
Key Metrics

14.83

Heat Index
  • Impact Level
    Medium
  • Scope Level
    Global
  • Last Update
    2025-09-10
Key Impacts
Positive Impacts (7)
Oracle Corporation (ORCL)
AI Semiconductor Manufacturers
Server & Enterprise Hardware Makers
Cloud Computing & IaaS Providers
S&P 500 Index
Data-Center REITs
Total impacts: 8 | Positive: 7 | Negative: 0
Event Overview

A significant increase in a tech company's stock value, driven by strong financial performance and high demand for AI, propels its co-founder to the top of the global wealth rankings. The firm's substantial backlog for cloud services underscores the sector's growth potential.

Collect Records
Larry Ellison Surpasses Elon Musk as World's Richest Person
2025-09-11 00:04

Larry Ellison, co-founder of Oracle, has surpassed Elon Musk to become the world's richest person. This change in wealth ranking was driven by a significant surge in Oracle's stock price, which was fueled by strong earnings and projected revenue growth from demand for AI. Oracle's stock market value approached $1 trillion, and Ellison's wealth increased by over $100 billion to a total of $393 billion. The company announced a $450 billion-plus backlog for cloud services and multibillion-dollar computing contracts with major AI players, including Nvidia and OpenAI. Oracle anticipates signing more multibillion-dollar customers in the coming months and expects the backlog to exceed half a trillion dollars. Additionally, Ellison used $6 billion from his family fortune to partially fund an $8 billion takeover of Paramount Global, which owns CBS and MTV.

Total records: 1
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