A tough economy has pressured cloud spending by businesses, sending Oracle’s shares down 9%.
Browsing: Larry Ellison
The world’s fourth richest person has exercised expiring options and sold $640-million of Oracle shares.
Musk needs to secure an additional $22.4-billion of funds to cover the equity financing portion of his deal to buy the social media company.
Businesses are choosing newer providers instead of Oracle, the sector stalwart, as a result of changes across the enterprise IT landscape.
Elon Musk has secured $7.1-billion in funding from a group of investors that includes Oracle co-founder Larry Ellison to fund his $44-billion takeover of Twitter.
Oracle said on Monday that it will build a data centre in Johannesburg, firming up plans first announced two years ago.
Steve Ballmer, the former CEO of Microsoft, has a net worth of more than $100-billion, making him the ninth person in the world to reach that lofty plateau.
Eskom said on Monday that it has put “contingency measures” in place to reduce the risk of its reliance on software from US technology firm Oracle, with which it is in a contractual dispute.
ByteDance has emphasised it will remain in control of a hived-off TikTok Global business, appearing to contradict US President Donald Trump’s statements about how the new entity will be directed by Americans.
US President Donald Trump said he supported a deal in principle that would allow TikTok to continue to operate in the US, even as it appeared to conflict with his earlier order for China’s ByteDance to divest the video app.