Ellison Tops Musk as World’s Richest Man After $101 Billion Gain
Watch Bloomberg Businessweek Daily every day on YouTube: http://bit.ly/3vTiACF.Larry Ellison has become the world’s richest person for the first time, ending Elon Musk’s nearly year-long reign in the top spot.Ellison’s fortune soared $101 billion as of 10:10 a.m. in New York after Oracle Corp. reported quarterly results that surpassed expectations and said there’s more growth to come.The increase lifted his total fortune to $393 billion, ahead of Musk who sits at $385 billion, according to the Bloomberg Billionaires Index. It’s the biggest one-day increase ever recorded by the index.Musk became the world’s richest person for the first time in 2021 before losing the title to Amazon.com Inc.’s Jeff Bezos and LVMH’s Bernard Arnault. He reclaimed it last year and had held it for just over 300 days.Ellison, 81, who co-founded Oracle and is now chairman and chief technology officer, has the bulk of his net worth tied up in the database software company.Oracle’s shares, which had already gained 45% this year through Tuesday’s close, soared 41% Wednesday after the company posted a major increase in bookings and gave an aggressive outlook for its cloud infrastructure business. It’s the company’s largest single-day surge ever.Today's show features: Bloomberg News Wealth Americas Team Leader Kristine Owram on Larry Ellison surpassing Elon Musk as the world’s richest man Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on the US Department of Labor’s Office of Inspector General initiating a review at the Bureau of Labor Statistics and the Senate Banking Committee backing Stephen Miran for a Federal Reserve Governor post Elizabeth Renter, Senior Economist at NerdWallet, on the economic outlook and the health of the US consumer Fred Thiel, Chairman and CEO of MARA Holdings on the regulatory outlook for Bitcoin and the company’s recent progress with Bitcoin mining See omnystudio.com/listener for privacy information.
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Instant Reaction: Conservative Activist Charlie Kirk Fatally Shot
Charlie Kirk, who helped rally young voters to Republican causes and became a close ally of President Donald Trump, died after being shot during an event in Utah. Kirk, executive director of the conservative Turning Point USA advocacy group, was speaking at an outdoor event at Utah Valley University when the fatal incident occurred. For instant reaction and analysis, Bloomberg Balance of Power cohosts Joe Mathieu and Kriti Gupta speak with: Bloomberg News senior editor Michael Shepard Bloomberg News White House repoter Kate Sullivan Kristen Hawn, ROKK Solutions Partner and Democratic Strategist Marua Gillespie, Bluestack Strategies Founder and Republican Strategist Senator Mike Rounds (R-ND) See omnystudio.com/listener for privacy information.
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MercadoLibre Taps Into Pharma and Food With Regional Pilots
MercadoLibre is experimenting with small pilot programs to develop ventures in industries like pharma and food delivery. This development emerges after Bloomberg first reported that Amazon had acquired a stake in Colombian delivery platform Rappi through a $25 million convertible note. Martin de los Santos, Chief Financial Officer of MercadoLibre, discusses why pharmaceuticals have a chance to improve their low e-commerce penetration, as well as why food products create new revenue opportunities for the Latin American powerhouse due to the high frequency of purchases. Martin speaks with Katie Greifeld and Matt Miller on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.
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Apple Debuts iPhone 17 Lineup, Including Skinnier Air Mode
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Apple Inc. introduced its iPhone 17 lineup, adding an all-new skinnier Air design and improving the devices’ durability and camera technology. The company unveiled the new smartphones at an event with the tagline “awe dropping” from its headquarters in Cupertino, California. Apple also debuted new smartwatches and an updated version of its high-end AirPods. The technology giant is looking to keep customers hooked on the smartphone — its biggest moneymaker — after signs of slowing demand in recent years. Apple has been contending with a saturated market for phones as well as fiercer competition in places like China. “IPhone Air is a total game changer,” Chief Executive Officer Tim Cook said during the presentation. Apple kept the starting price of its standard iPhone the same at $799. Though the Pro model will go up by $100, it also has twice as much storage. And the new Air version will cost $999, putting it in the middle of its price range. The skinnier model has ceramic shields on both sides of the phone, helping make the device more durable. The model is 5.6 millimeters wide and “exceptionally light,” the company said. Though Apple rival Samsung Electronics Co. introduced its own skinny model earlier this year — the Galaxy S25 Edge — that device is 5.8 millimeters. Today's show features:- Dan Ives, Global Head of Technology Research at Wedbush Securities, on Apple’s newest iPhone launch and the tech sector broadly- Jennifer Grancio, Global Head of ETFs at TCW on the market outlook and the demand for ETFs- Douglas Boneparth, President of Bone Fide Wealth, and Heather Boneparth, Director of Business and Legal Affairs Bone Fide Wealth on personal financial management and investing- Mark Gatto, Co-Founder, Co-President & Co-CEO of CION Investments, on the growing demand for private credit and alternative assetsSee omnystudio.com/listener for privacy information.
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The Cost of Your Health
HealthEquity and its subsidiaries administer HSAs and other consumer-directed benefits for more than 17 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to save and improve lives by empowering healthcare consumers.Scott Cutler, the company's CEO, discusses the challenges and successes of his first eight months on the job, and how his firm uses technology and data to help deal with healthcare affordability issues in America. Scott speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.
Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy. Watch us LIVE on YouTube: http://bit.ly/3vTiACF.
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