Oracle\n \n founder Larry Ellison is reaping the benefits of artificial intelligence popularity, edging past Microsoft\n \n founder Bill Gates to land the number four spot on the Bloomberg Billionaires Index on Monday, according to Bloomberg. Ellison is now the world’s fourth-richest person, with a staggering $129.8 billion net worth, Bloomberg reported. He just squeaked past Gates, whose net worth — Bloomberg reported — is currently $129.1 billion.
Oracle is cashing in on AI, investing in OpenAI competitor Cohere, which raised a total of $270 million in a funding round last week, according to reports. Artificial intelligence is keeping investors optimistic. Bank of America economists said the S&P 500 move into the bull market was mostly because investors rallied around AI. Ellison is the largest stockholder in Oracle and owns approximately 42.9% of its shares, a 2022 SEC proxy statement said. The 78-year-old also owns a 1.