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BumRushDaShow

(160,069 posts)
Wed Sep 10, 2025, 11:23 AM Wednesday

Elon Musk just lost his title as world's richest person

Source: CNN Business

Updated Sep 10, 2025, 11:02 AM ET
PUBLISHED Sep 10, 2025, 7:35 AM ET


New York — Elon Musk has lost his title of “world’s richest person” title to Oracle cofounder Larry Ellison. Ellison’s wealth jumped by $101 billion to $393 billion after Oracle’s stunningly strong earnings report Tuesday evening, surpassing Musk’s net worth of $385 billion, according to Bloomberg. Oracle (ORCL) reported surging demand for its data center capacity from AI customers, launching the stock into the stratosphere. Shares are 40% higher Wednesday as of 11 a.m. ET.

CEO Safra Catz announced Tuesday after the stock market closed that Oracle signed four multibillion-dollar contracts with customers during the quarter, and she expects to sign several more in the coming months. That electric forecast was powered by Oracle’s emergence as a key provider of infrastructure that powers AI companies’ enormous demands for computing power – Oracle’s bread and butter as a cloud services and database software provider.

In July, Oracle announced a deal to provide ChatGPT’s parent company OpenAI with 4.5 gigawatts of electricity to power its AI software. Ellison is Oracle’s largest individual shareholder and could capture the title of world’s richest person if the stock extends its extraordinary gains when the markets open Wednesday.

The stock’s jump is exceedingly rare for a company that has a massive market value of just under $700 billion – the 13th most-valuable stock on the market at Tuesday’s close. Bloomberg notes Ellison’s leap in wealth is the “biggest one-day increase ever recorded” recorded by the index. The Bloomberg Billionaire Index will update following the market close on Wednesday.

Read more: https://www.cnn.com/2025/09/10/investing/elon-musk-larry-ellison-wealth



LOL Ellison has been near the top for decades and is old enough to be Muskrat's father. Oracle has been sort of "dormant" the last 10 years or so but I guess they are shaking off the cobwebs and riding the "AI" wave.
29 replies = new reply since forum marked as read
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Elon Musk just lost his title as world's richest person (Original Post) BumRushDaShow Wednesday OP
Ugh. Larry is almost as bad as Elon. Eugene Wednesday #1
Yep... regnaD kciN Wednesday #13
Up 40% is insane for a "mature" battleship of a company like oracle unblock Wednesday #2
Appears to be since the CEO made incredibly optimistic predictions about cloud revenue muriel_volestrangler Wednesday #8
met Larry once, back in the day lapfog_1 Wednesday #3
my ex once shared a stage w him. used to worship him. mopinko Wednesday #9
Well, Shit. GB_RN Wednesday #4
Over promise, under deliver, makes tons of profit IronLionZion Wednesday #12
A Coworker Of Mine... GB_RN Wednesday #18
Dormant? IbogaProject Wednesday #5
"Dormant?" BumRushDaShow Wednesday #6
Are you sure? Oracle's provided cloud services for the Pentagon for a while. ancianita Wednesday #19
As I mentioned BumRushDaShow Wednesday #20
I see. Thanks. ancianita Wednesday #22
This is why the business and tech media are making a big deal about Oracle at the moment BumRushDaShow Wednesday #23
Understood. I've read a bit about his wanting to ancianita Wednesday #24
See this BumRushDaShow Wednesday #25
Sounds complicated in terms of security, and the "trust us" message with all this Texas 2.0 ancianita Wednesday #26
If DOGEshit hadn't ditched many of the CISA folks BumRushDaShow Wednesday #27
Absolutely. Trump himself has wanted to end CISA, anyway. I try to keep up with what Chris Krebs' folks ancianita Wednesday #28
Prof positive that our system is rigged Nigrum Cattus Wednesday #7
Well, they both suck and are MAGA ass kissing assholes. Initech Wednesday #10
Has Musk set up a GoFundMe that I can contribute to? Midnight Writer Wednesday #11
I wonder if Putin is still actually #1 William Seger Wednesday #14
It's disgusting that any one person should have that much money. hamsterjill Wednesday #15
makes me want to barf reading about this kind of money rurallib Wednesday #16
Reminds me of the Twlight Zone pool shark episode... C Moon Wednesday #17
They can now whip them out and compare now that they finally no longer need to work. Brainfodder Wednesday #21
But he still holds the title for world's biggest jerkwad. marble falls Wednesday #29

regnaD kciN

(27,262 posts)
13. Yep...
Wed Sep 10, 2025, 01:12 PM
Wednesday

For normal people, it’s like being the last husky on a dog sled – all you see are assholes in front of you.

muriel_volestrangler

(104,691 posts)
8. Appears to be since the CEO made incredibly optimistic predictions about cloud revenue
Wed Sep 10, 2025, 12:04 PM
Wednesday
"We expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year — and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years," CEO Safra Catz said in a statement on Tuesday.

The stock's gain comes despite Oracle reporting earnings for the first quarter of its fiscal year 2026 that fell below Wall Street's expectations. The company reported revenue of $14.9 billion, slightly below the $15 billion expected by analysts polled by Bloomberg. The software giant's adjusted earnings per share of $1.47 also came in below the projected $1.48.
...
"We signed four multibillion-dollar contracts with three different customers in Q1," Catz said in a statement Tuesday. Catz said this resulted in the company's contract backlog increasing 359% to $455 billion in its first quarter. The executive added that the company expects to sign up several additional multibillion-dollar customers and for its RPO to exceed half a trillion dollars.

https://finance.yahoo.com/news/oracle-stock-soars-after-ceo-says-ai-fueled-cloud-revenue-set-to-jump-to-144-billion-154530523.html

The market cap is now of the order of $900 billion: https://finance.yahoo.com/news/oracle-stock-soars-after-ceo-says-ai-fueled-cloud-revenue-set-to-jump-to-144-billion-154530523.html
Yes, they have a growth area; but for market cap to increase by $230bn for a predicted $126bn revenue increase in 5 years seems optimistic. Unless that revenue can be seen as obscenely profitable.

lapfog_1

(31,270 posts)
3. met Larry once, back in the day
Wed Sep 10, 2025, 11:32 AM
Wednesday

interviewed at his vanity startup, Pillar Data Systems.

He is smart ( not just lucky like so many tech billionaires ). But my impression is that he is a huge asshole. Not as bad as Altman, Musk, Theil, etc. but still as ass.

mopinko

(72,953 posts)
9. my ex once shared a stage w him. used to worship him.
Wed Sep 10, 2025, 12:05 PM
Wednesday

i wonder what he thinks now.
he presented at java 1. he wrote a garbage collection program that was patented. his name is on it, but it belongs to cboe, who he used to work for. larry gave him a big pat on the back.

GB_RN

(3,439 posts)
4. Well, Shit.
Wed Sep 10, 2025, 11:42 AM
Wednesday

As much of a Reichwing asshat as he is, this blows. I’ve despised him for a long time, and when Oracle bought Cerner (a for-profit, software company that makes the self-titled electronic medical record, Cerner, which is a MAJOR piece of shit, by the way), I had hoped that Oracle would take a beating over it. After all, on a NO-BID contract awarded by Jar-Jar(ed Kushner), for Cerner to provide their EMR to the VA, they HOSED up royally at several facilities and had the project put on hold. Part of their problem is that as a publicly owned company - geared for maximizing shareholder value 🙄, their sales people would over promise. The engineers would then either under-deliver, or never be able to deliver what the sales clowns said they could do.

Cerner has also faced numerous lawsuits in the past related to botched rollouts and lost data. LOST health record data! A gigantic, no-no, NEVER-should-happen event.

The software is also POS on the front end. I won’t ever go to work for any facility that uses it. That’s how much I detest it.

Screw Cerner and Oracle/Larry Ellison.

IronLionZion

(49,894 posts)
12. Over promise, under deliver, makes tons of profit
Wed Sep 10, 2025, 12:32 PM
Wednesday

if patients die, they die. That's the price of freedom. American health care is exceptional that way.

I worked briefly with VA around the time they selected Cerner. I saw the ridiculous and dangerous risks in that EHR integration and looked for a one way ticket as far away as I could. Phew. VA still has tons of turnover and trouble recruiting qualified people even in today's economy. So even during COVID, if anyone I knew was desperate for a job, VA would hire them until they found something better.

GB_RN

(3,439 posts)
18. A Coworker Of Mine...
Wed Sep 10, 2025, 04:00 PM
Wednesday

Who happens to be an Army vet, just moved over to the local VA hospital. Took them a full YEAR to get him on board after he interviewed and was offered/accepted the job. That’s insane. Especially for an RN position. What kind of Super Secret Squirrel information is he going to be looking at that requires a 6 month (or longer) background check by the FBI?

No wonder they were understaffed even BEFORE Caligula’s pandemic in Caligula v1.0. Far, far worse now that Cantaloupe Caligula the Corpulent let Eloon and his Doge (I pronounce it as “dodgy,” and use in the same sense as the British: shady/suspect) tech bros illegally fire VA staff.

But hey, tell me again how the Rabid Reichwingers are the pro-military/vet political party…🤦‍♂️

IbogaProject

(4,964 posts)
5. Dormant?
Wed Sep 10, 2025, 11:44 AM
Wednesday

Only as far a investing news hype, maybe. But they have been plugging along with their overpriced database and server products fueled by their onerous contracts, high paid sales reps and vicious legal team.

BumRushDaShow

(160,069 posts)
6. "Dormant?"
Wed Sep 10, 2025, 11:51 AM
Wednesday

Yes because at one time, "everyone" had to be an "Oracle DBA" (and yup, exhorbitant prices for the software license and service agreements, even with GSA pricing - the federal government used their software like my agency - at least in the past).

Then the "in thing" (particularly for all the spammers DU gets) was "SEO".

Now the "in thing" is "AI".

ancianita

(41,774 posts)
19. Are you sure? Oracle's provided cloud services for the Pentagon for a while.
Wed Sep 10, 2025, 05:17 PM
Wednesday

I'm disappointed in his politics & relationship with trump, but at least Ellison's not aligned with Putin.

From DeepMind AI:

Oracle itself provides crucial, highly-secure cloud services that function as a foundation for advanced military command and control operations. So while it doesn't staff or run the Pentagon's physical command centers, its secure, high-performance cloud technology is a fundamental enabler of modern military planning and decision-making.

Cloud provider:
Oracle has been one of four major cloud providers—along with Amazon Web Services, Google, and Microsoft—awarded a contract for the Joint Warfighting Cloud Capability (JWCC) program. The JWCC has been a multi-billion dollar contract that gives the Department of Defense (DoD) access to secure cloud computing for warfighting missions at all classification levels.

Classified regions:
Oracle provides "air-gapped" cloud regions, called Oracle National Security Regions (ONSRs), that are isolated from the public internet and designed to support Secret and Top Secret-level missions. These secure, dedicated networks enable DoD and Intelligence Community personnel to manage and analyze classified data.

Tactical operations:
Oracle's cloud services extend to the "tactical edge," providing ruggedized, portable computing and storage devices for warfighters operating in disconnected or austere battlefield environments. This allows for data processing closer to the source, giving combat units faster access to critical intelligence.

Virtual war room:
Instead of a single physical location, the Pentagon's warfighting capability is built on a distributed, "all-domain" digital infrastructure. This cloud-based system serves as a modern, high-tech version of a war room, allowing commanders to analyze data, run simulations, and direct forces from anywhere in the world.

BumRushDaShow

(160,069 posts)
20. As I mentioned
Wed Sep 10, 2025, 05:30 PM
Wednesday

we had some Oracle databases at my agency.

But there was a period when "open source" and *nix-based products suddenly became "a thing" and people were moving to ( "free as in beer" ) open source SQL-based databases (because Oracle was getting more and more expensive, although their databases could usually handle huge loads).

And regarding "cloud" - well AWS (Amazon Web Services) basically blew the others out of the water including Oracle's, IBM's, and M$'s, in terms of getting customers.

Much of the Oracle in the government is for legacy systems.

BumRushDaShow

(160,069 posts)
23. This is why the business and tech media are making a big deal about Oracle at the moment
Wed Sep 10, 2025, 05:55 PM
Wednesday

with their stock "soaring" and whatnot.

They have been in kind of a "sleepy" / "mature tech" mode for some time now but it seems they found a way to get into the AI thing.

PLUS, supposedly Ellison and Oracle "are involved" (behind the scenes) with possibly taking over, or at least having a significant role with TikTok (since they already provide the back end services for it).

ancianita

(41,774 posts)
24. Understood. I've read a bit about his wanting to
Wed Sep 10, 2025, 06:56 PM
Wednesday

keep TikTok more secure, and there's win-win value in that.

ancianita

(41,774 posts)
26. Sounds complicated in terms of security, and the "trust us" message with all this Texas 2.0
Wed Sep 10, 2025, 07:22 PM
Wednesday

project stuff isn't confidence inspiring at all. Securing the codes? With ByteDance endorsing Oracle? And republicans owning shares of ByteDance? pfffft

So far it seems clear to me, 6 months past this article, that nothing these rw oligarchs and their tools do that's new or "news" is to be trusted to secure this country.

A good article. Thanks.

BumRushDaShow

(160,069 posts)
27. If DOGEshit hadn't ditched many of the CISA folks
Wed Sep 10, 2025, 07:30 PM
Wednesday

they might have had the right security folks in place who had a sense of what the environment was out there so they could come up with a "partnership" between Oracle and the government gurus, in order to help secure it. But...

ancianita

(41,774 posts)
28. Absolutely. Trump himself has wanted to end CISA, anyway. I try to keep up with what Chris Krebs' folks
Wed Sep 10, 2025, 07:51 PM
Wednesday

Nigrum Cattus

(1,001 posts)
7. Prof positive that our system is rigged
Wed Sep 10, 2025, 11:56 AM
Wednesday

How can any company gain $101,000,000,000 in a heartbeat ?

hamsterjill

(16,537 posts)
15. It's disgusting that any one person should have that much money.
Wed Sep 10, 2025, 01:57 PM
Wednesday

When people are starving, etc. I don't care WHO it is.

rurallib

(64,130 posts)
16. makes me want to barf reading about this kind of money
Wed Sep 10, 2025, 02:21 PM
Wednesday

when people are starving.

Plus both of these guys are probably paying taxes under 5% if they pay any taxes at all.

Brainfodder

(7,781 posts)
21. They can now whip them out and compare now that they finally no longer need to work.
Wed Sep 10, 2025, 05:42 PM
Wednesday


Buying power of some countries.

What could go wrong?
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