Larry Ellison during a presentation organized at Oracle Openworld in 2019, photo: Justin Sullivan / Getty Images / Profimedia Images
US billionaire Larry Ellison, the co -founder and technological director of Oracle, lost the title of the richest person in the world after only a few hours.
According to the ranking of billionaires prepared by Bloomberg, Ellison's wealth dropped to $ 383 billion on Thursday, with one billion less than that of Elon Musk.
According to Bloomberg, which updates its ranking in real time according to the fluctuations of the stocks listed on the stock exchange, Ellison's wealth had increased on Wednesday night with the amazing amount of $ 101 billion, reaching 393 billion. He thus exceeded Musk, who at that time had a fortune of 385 billion.
The reason why such fluctuations take place is due to the fact that the vast majority of the assets of the big billionaires are made up of the actions of the companies they founded or have come to lead. As they usually own tens or hundreds of millions of actions in their companies, even minor price fluctuations can sometimes lead to important gains or losses.
Spectacular jump for the company co -founded by Ellison
But in this case the price of Oracle shares climbed 41%Wednesday, the highest daily jump since 1992, carrying the company near the threshold of $ 1,000 billion in terms of capitalization on the stock market.
The lightning growth took place after Oracle reported a huge demand on Tuesday evening for its databases, fueled by the artificial intelligence boom (AI).
Musk, who has largely held the title of “the richest man in the world” in January 2021, temporarily lost in favor of Bernard Arnault and Jeff Bezos, but returned to the top of the Tesla actions.
Before she was overcome by Ellison, Musk had held the continuous title for almost a year. Given the difference of only one billion between the wealth of the two, it is not excluded that they exchange positions at the top of the standings and in the next few days.
Forbes magazine, which uses a slightly different methodology than Bloomberg, estimated Musk's wealth to over $ 400 billion.
