Eiii! You hear say Oracle co-founder Larry Ellison briefly collect Elon Musk title as the world richest person? E happen on Wednesday morning, wey Ellison wealth jump go $393 billion, pass Musk own wey stand for $385 billion, according to Bloomberg Billionaires Index.
Wetin Cause Am?
Oracle shares rise pass 40% because dem get good news for dem cloud infrastructure business and artificial intelligence (AI) deals. Na Oracle shares make up plenty of Ellison wealth, so when e rise, e boost am well well.
But E No Last
Unfortunately for Ellison, Oracle share price come reduce small by the end of the day, wey make Musk collect back e number one spot. Before Ellison collect am small, Musk don hold the title for almost one year.
Musk Still Dey Eye Big Money
Dem say Musk fit collect pay package wey worth over $1 trillion if e fit achieve some big targets for the next ten years. But Tesla shares don dey fall small this year because of investor worries about electric vehicle initiatives.
Oracle Dey Blow Because of AI
Oracle dey get plenty demand for data centre infrastructure lately. Dem project say dem cloud business revenue go jump 77% this year, go reach $18 billion. Dem dey expect more growth in the years to come, especially from AI companies wey need dem data centres.
In Summary
- Larry Ellison briefly pass Elon Musk as world richest man.
- Na Oracle shares jump cause am.
- Musk collect back e title by the end of the day.
- Oracle dey blow because of AI demand.
So, dat one be the gist! Keep your eyes open for more news like this.