Elon Musk has lost his title as the world’s richest person to Larry Ellison, the co-founder of Oracle and an ally of US President Donald Trump. According to the Bloomberg Billionaires Index, Ellison’s wealth surged to 393 billion dollars, surpassing Musk’s 385 billion dollars. Shares in Oracle soared more than 40 per cent after the database software company gave investors a surprisingly rosy outlook for its cloud infrastructure business and artificial intelligence (AI) deals. Oracle has recently been propelled by the growing demand for data centre infrastructure
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