Elon Musk is no longer the world’s richest person, new ranking says
Oracle co-founder Larry Ellison has surpassed Elon Musk as the world’s richest man, according to wealth tracker Bloomberg. The 81-year-old, who dropped out of college, now has a net worth of $393 billion, edging out Musk by several billion dollars. This shift in ranking came after Oracle reported impressive earnings fueled by significant orders in the artificial intelligence sector.
On the other hand, Musk, who has held the title of the world’s richest man for four years, saw a decline in his wealth as Tesla’s stock dropped by 14% this year. Despite Forbes still ranking Musk as the wealthiest individual at $439 billion, Bloomberg places his net worth at $385 billion due to varying estimations of SpaceX and other private holdings.
With Ellison’s sudden surge in wealth, he could support the lifestyles of 5 million American families for a year, equivalent to the population of Florida. Alternatively, his fortune could allow the entire nation of South Africa to take a year-long vacation, based on their GDP.
It is worth noting that Ellison’s son David owns Paramount, a company under Skydance, which is the parent company of CBS.
The competition for the title of the world’s richest person continues to fluctuate, with Ellison’s rise marking a significant moment in the financial world. As technology and AI advancements drive the economy, the wealth of individuals like Ellison and Musk will likely continue to fluctuate based on market trends and business performance.
