AI Business Boosts Company Shares and Changes Billionaires List
Artificial Intelligence (AI) has been the topic of much discussion lately, with fears of job losses and the spread of misinformation. However, recent reports suggest that AI could bring about positive changes in the business world. Companies involved in AI are experiencing a surge in share prices, reaching a 52-week high in the US stock market on Monday. This has resulted in changes to the Bloomberg Billionaires Index, with Larry Ellison, the founder of Oracle, overtaking Bill Gates to become the world’s fourth-richest person.
AI Business Boosts Oracle Shares and Ellison’s Net Worth
Ellison’s net worth increased from $5.92 billion to $135 billion, while Gates slipped to fifth place with a net worth of $131 billion. This year, Ellison’s net worth has increased by $43.5 billion, while Gates’ has increased by $21.9 billion. Ellison resigned as CEO of Oracle in 2014 but remained as chairman and chief technology officer, with a 42.9% stake in the company. Oracle’s shares have increased by 42% this year, and the company has invested in AI, including OpenAI’s computer Cohere.
Elon Musk Tops the Billionaires List
Tesla’s CEO, Elon Musk, tops the list of billionaires, with a net worth of $230 billion. Bernard Arnault from France is in second place with a net worth of $196 billion, followed by Jeff Bezos from Amazon with a net worth of $151 billion. Warren Buffett is in sixth place with a net worth of $117 billion, followed by Steve Ballmer with a net worth of $117 billion. Larry Page is in eighth place with a net worth of $112 billion, followed by Sergey Brin with a net worth of $107 billion, and Mark Zuckerberg with a net worth of $99.7 billion. India’s largest industrialist, Mukesh Ambani, is in 13th place with a net worth of $88.2 billion, and Gautam Adani is in 19th place with a net worth of $61.8 billion.
In conclusion, companies involved in AI are experiencing a surge in share prices, resulting in changes to the billionaires’ list. Larry Ellison has overtaken Bill Gates to become the world’s fourth-richest person, while Elon Musk tops the list with a net worth of $230 billion. With the potential of AI to bring about positive changes, the future of the business world looks bright.
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