Musk loses crown as the world’s richest person to Larry Ellison and then snatches it back
Court Painter with portrait of Elon Musk
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Court Painter with portrait of Larry Ellison
NEW YORK (AP) — The battle among billionaires for bragging rights as the world’s richest person got heated Wednesday with the surprising surge of an old contender: Larry Ellison.
In a stunning few minutes after markets opened, stock in Ellison’s Oracle Corp. rocketed more than a third, enough for him to temporarily wrest the title from its longtime holder Elon Musk and hand it to the software giant’s co-founder.
But the stock market is fickle, and Musk was back on top by the end of the day, at least according to Bloomberg, as Oracle gave up a bit of its earlier gains.
For those keeping score, the difference now is a billion, which isn’t much given the size of the figures: Musk’s $384.2 billion versus $383.2 billion for Ellison.
The dueling fortunes are so big each could fund the lifestyles of 5 million typical American families for a year, about the entire population of Florida, allowing them to all quit their jobs. Or they could just tell all of South Africa to take a vacation for year and produce nothing, based on its gross domestic product.
And then there is this:
Oh by the way ..just in...248 million: Going once, going twice. The famed auction house Sotheby’s annual losses have doubled to $248 million, as the global art market continues to collapse due to uncertainty about the US economy and a tapering-off of interest from high-end Asian buyers