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That meant a sizable gain for Ellison’s net worth, which is heavily tied to the company. The 81-year-old entrepreneur co-founder, who currently owns more than 40% of Oracle, subsequently enjoyed a $101 billion surge in wealth overnight, to $393 billion—placing him ahead of Musk’s $385 billion fortune. He joined the likes of Amazon executive chairman … Read more
Good morning. It’s Jeremy here, filling in for Andrew, who is now on paternity leave for a bit. So you’ll see a rotating cast of Fortune tech journalists writing this newsletter for a few weeks. Fortune Brainstorm Tech wrapped yesterday. Here were a few highlights from the final day of the conference: Tom Hale, the … Read more
Oracle cofounder Larry Ellison beat out Tesla CEO Elon Musk to claim the title of world’s richest person for the first time Wednesday. The 81-year-old executive chairman has benefitted from Oracle’s growing cloud-infrastructure business; most notably this week, as the company announced it won several billion-dollar contracts in its most recent quarter. The 81-year-old cofounder … Read more
As younger generations struggle to buy their first homes, boomers are accumulating wealth and tightening their grip on assets that millennials and Gen Z need to get richer. Thanks to a perfect storm of economic luck, such as affordable home prices and steady wages, boomers have accumulated a collective net worth of $82 trillion— more … Read more
Mukesh Ambani, chairman and managing director of Reliance Industries Ltd., is speaking at an event in Mumbai, India, on March 30, 2024. Indranil Aditya | Nurphoto | Getty Images India’s richest man, Mukesh Ambani, on Friday announced plans to list the country’s largest telecom operator, Reliance Jio Infocomm, by the first half of 2026. Speaking … Read more
On Monday, the University of Michigan announced true freshman Bryce Underwood, the consensus No. 1 overall ranked high-school football player in the nation in the 2025 recruiting class, would be the Wolverines’ starting quarterback for Saturday’s season opener against New Mexico. Underwood, who had previously committed to Louisiana State University before flipping to Michigan, becomes … Read more
Elon Musk claims to have slashed billions of dollars worth of wasteful spending during his time as head of the Department of Government Efficiency (DOGE)—but his controversial role may have done more damage to his pocketbook than he anticipated. This year alone, Musk has lost some $80 billion in his net worth, bringing his current … Read more
BNB crypto, the token that powers both the BNB Smart Chain and Binance, has just reached a new all-time high of $858 after more than a year of sideways trading. BNB surged 6% overnight, reaching its highest price point since its launch in 2017. Its 30%+ July rally has catapulted BNB back into the crypto … Read more
Jio Platforms, the digital arm of Indian conglomerate Reliance Industries, has launched a virtual desktop service for set-top box users. This means that India’s richest man, Reliance’s chairman Mukesh Ambani, hopes to turn millions of TVs in the world’s most populous country into PCs. Called JioPC, the service offers a cloud-based PC experience through Jio’s … Read more
Key Takeaways Satoshi Nakamoto could become the world’s second wealthiest person if Bitcoin grows by 50% annually. Elon Musk is likely to remain the world’s richest individual even if Satoshi surpasses Buffett and Zuckerberg. Share this article Satoshi Nakamoto, the pseudonymous creator of Bitcoin, could become the world’s second-wealthiest individual if Bitcoin maintains its annual … Read more
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