Oracle tycoon Larry Ellison is on top of the world, or at least at number three. Forbes has listed Ellison as the world’s third wealthiest person with an estimated net worth of $203.5 billion.
Ellison came in way ahead of the number four man Mark Zuckerberg whose wealth Forbes estimates to be $185.7 billion.
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Larry Ellison is also sounding a bit paranoid when it comes to the future of AI. The billionaire thinks that artificial intelligence will someday track our every move.
“We’re going to have supervision,” he told an Oracle financial analysts meeting. “Every police officer is going to be supervised at all times, and if there’s a problem, AI will report that problem and report it to the appropriate person. Citizens will be on their best behavior because we are constantly recording and reporting everything that’s going on.”
In addition, the Motley Fool reported that Ellison and Musk have been actively pursuing Nvidia for additional GPUs (graphics processing unit), but even substantial financial offers are proving insufficient due to Nvidia’s inability to meet the overwhelming demand. Notably, Oracle and Tesla, despite being significant customers, are not the largest consumers of Nvidia’s GPUs.
Oracle’s capital expenditures for fiscal 2024 reached $6.9 billion, with projections for a doubling of this spending in fiscal 2025. A major portion of these funds is earmarked for chip purchases and data center construction. Similarly, Tesla has allocated over $10 billion for capital expenditures this year, a significant portion of which will be invested in the 50,000 GPU cluster previously mentioned.
Larry Ellison is an American businessman and entrepreneur best known for co-founding the software giant Oracle Corporation in 1977. He served as Oracle’s CEO for 37 years until 2014 and is currently the company’s chairman and chief technology officer. Under his leadership, Oracle grew from a startup to the largest database software supplier and the second-largest supplier of business applications globally.
