Funding & Business
Larry Ellison’s $89 Billion One-Day Wealth Boom Shatters Records
Larry Ellison briefly surpassed Elon Musk to become the world’s richest person Wednesday after a jump in Oracle shares added a record amount to his fortune.
Ellison’s wealth soared to $89 billion after Oracle’s latest earnings results surpassed analysts’ expectations, with the company saying there’s more growth to come.
That increase lifted Ellison’s total net worth to $383.2 billion, according to the Bloomberg Billionaires Index. It’s the biggest one-day increase ever recorded, and put him ahead of Musk for much of the day Wednesday before the Tesla CEO edged back into pole position by $1 billion. Bloomberg News Wealth Americas Team Leader Kristine Owram joins Bloomberg Businessweek Daily to discuss. (Source: Bloomberg)
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Botswana’s credit rating was cut by S&P Global Ratings, another blow to its diamond-dependent economy that’s struggling with a slump in demand for its gems.
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Snam SpA’s purchase of a stake in German gas network operator Open Grid Europe from Abu Dhabi’s Infinity Investments is unlikely to close this month as planned, Il Sole 24 Ore reported.
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