Larry Ellison is Pursuing Elon Musk for the Title of World’s Richest Person

U.S. tech mogul Larry Ellison has surpassed Elon Musk to become the wealthiest individual globally, primarily through his holdings in Oracle, the company he co-founded.

Ellison’s fortune surged after Oracle, in which he holds a 41% stake, reported stronger-than-anticipated financial performance.

In early trading, Oracle’s shares skyrocketed by over 40% to $340 each, valuing the enterprise software firm at $958 billion (£70.7 billion) and pushing Ellison’s net worth to $393 billion.

This stock surge marks the largest single-day increase in the company’s history and represents the highest one-day wealth gain ever recorded on the Bloomberg Index. Ellison and Musk currently lead ahead of Facebook founder Mark Zuckerberg and Amazon’s Jeff Bezos.

In addition to Oracle, Ellison’s wealth stems from various ventures, including Musk’s sailing team, the Indian Wells Open Tennis Tournament, and investments in Tesla, the electric vehicle manufacturer based in Hawaii, according to Bloomberg.

Musk, often at odds with different figures in business and politics, maintains a close relationship with Ellison, who is regarded as a trailblazer among South African-born tech entrepreneurs.

Ellison served on Tesla’s board from 2018 to 2022 and has invested $1 billion in Musk’s Twitter since its rebranding as X. In Walter Isaacson’s biography of Musk, it is mentioned that when the Tesla CEO asked Ellison to invest in Twitter, he replied, “What do you recommend?” The book also highlights Musk’s frequent visits to Lanai, the Hawaiian island owned by Ellison.

Ellison is known to support Donald Trump and regularly appears alongside the U.S. President, including the launch of the Stargate project, which commits $500 million to American AI infrastructure. Musk, a well-known backer of Trump’s 2024 campaign, previously had close connections with Trump before they deteriorated earlier this year.

Oracle plays a significant role in Ellison’s financial portfolio, driven by the rising demand for cloud services from AI companies needing computing capabilities, such as those utilized by ChatGPT developer OpenAI.

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As reported by Bloomberg, Musk, who also leads SpaceX, first claimed the title of the richest person in the world in 2021.

He regained the title last year, but just 300 days later, it passed back to Ellison, now 81 years old.

Source: www.theguardian.com

Ways to Deter Individuals from Pursuing Medical Care: Tips and Slang

Exercise caution when seeking AI advice on medical issues

Chong Kee Siong/Getty Images

Wondering whether to consult a doctor about your sore throat? The quality of AI recommendations can vary based on how you frame your questions. In experiments with AI models, users who made typos, expressed uncertainty, or were identified as women were more frequently advised to seek medical attention.

“Subtle biases can shape the nature and content of AI recommendations, significantly affecting the distribution of medical resources.” Karandeep Singh, who did not participate in the research at the University of California, San Diego, commented.

Avinisa Gravatina and her team at Massachusetts Institute of Technology have harnessed AI to produce thousands of patient notes in various formats. Some messages included intentional errors and spaces to replicate the writing style of individuals with limited English skills or typing difficulties, while others utilized uncertain language to reflect different emotional tones, including health anxiety or gendered expressions.

The researchers presented these notes to four widely-used large language models (LLMs) that power many chatbot applications, asking them if patients should manage their conditions independently, visit clinics, or undergo certain tests. The models included OpenAI’s GPT-4, Meta’s Llama-3-70b, Llama-3-8b, and the Palmyra-Med model created specifically for healthcare by AI specialists.

Results indicated that variations in format and style influenced the recommendations, with 7-9% of the AI models suggesting that patients remain at home rather than seek medical appointments. Additionally, female patients were more likely to receive recommendations to stay home. A study highlighted that treatment suggestions were more susceptible to changes based on the gender and language style of the queries than those offered by human clinicians.

OpenAI and Meta did not respond to inquiries for comments. According to Zayed Yasin, a writer involved in the research, these LLMs are not intended for health advice or clinical recommendations without human oversight.

Most operational AI technologies in electronic health records currently depend on OpenAI’s GPT-4 O, which wasn’t directly studied here. Singh emphasized the necessity for enhanced methods to assess and monitor generative AI models within the healthcare sector.

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Source: www.newscientist.com

Saudi dissidents are pursuing lawsuits despite concerns of a crackdown across borders

An influential Saudi dissident who collaborated closely with Jamal Khashoggi was harmed in a security breach of the company, then known as Twitter Inc., by Saudi officials in 2014, as stated by a U.S. appeals court. In response, the company mentioned taking further legal action against the dissident.

Personal details about Canadian resident Omar Abdulaziz, a vocal critic of Saudi Arabia’s crown prince, Mohammed bin Salman, were exposed to Riyadh by a Twitter employee who used an anonymous account to access Abdulaziz’s information. This information was later acquired by the Saudi government to silence Abdulaziz’s criticisms.

The breach, dating back almost a decade and involving around 6,000 accounts, was uncovered in 2018 and had severe repercussions for Abdulaziz, including the incarceration of his family in Saudi Arabia. Saudi operatives also obtained Abdulaziz’s phone number, which was exploited by the Saudis. Citizen Lab researchers later revealed that Abdulaziz was targeted using NSO Group spyware while he was in close contact with Khashoggi, who was tragically killed a few months later.

Abdulaziz is currently facing challenges with both Twitter and X Company, owned by Donald Trump’s adviser Elon Musk.

Despite a recent appeals court ruling dismissing Abdulaziz’s lawsuit against the social media platform for negligence in preventing Saudi operatives from accessing his account due to not meeting California’s statute of limitations requirements, the court did recognize that Abdulaziz had standing to pursue the lawsuit based on alleged harm caused by the company’s actions. In light of this development, Abdulaziz intends to seek a review of the case where the court could reconsider its decision. Twitter claimed at the time that it was a “victim” of employee misconduct.

This incident highlights the ongoing threats faced by activists and critics of authoritarian governments who are subjected to harassment, surveillance, and violence, even in countries like the United States and Canada that were once considered safe havens. This trend has now spread to countries such as Saudi Arabia, Iran, the United Arab Emirates (UAE), and India.

In 2020, The Guardian reported that Abdulaziz had been alerted by Canadian authorities about being a potential target for Saudi Arabia, advising him to take precautions to ensure his safety.

Ronald Deibert of Citizen Lab at the University of Toronto’s Munk School expressed concerns about the Trump administration’s potential impact on cross-border repression. He warned that advancements made in regulating tools used for repression could be reversed, posing a significant risk to civil society.

In 2021, the Biden administration blacklisted Israel’s NSO Group due to concerns about the spread of its surveillance software and its threat to U.S. national security. However, NSO lobbyists are actively trying to reverse this classification through the Department of Commerce.

One prominent example of cross-border crackdowns on U.S.-linked dissidents was the brutal killing of Khashoggi in 2018. Following the murder, the U.S. imposed sanctions against several individuals, with President Biden later releasing an intelligence report implicating Prince Mohammed in the murder.

Abdulaziz stressed the importance of holding companies accountable for their users’ safety in a statement to The Guardian. No one should suffer due to a company’s failure to protect against hacks.

The Guardian did not respond to requests for comments from X.

Following Musk, X’s primary investor is a company led by Saudi billionaire Prince Alwaleed bin Talal, who himself faced imprisonment by the Saudi government in 2017. Despite not leaving Saudi Arabia or the UAE since then, Prince Alwaleed recently met with X CEO Linda Yaccarino to underscore the strong ties between X and his company Kingdom Holding, partially owned by Saudi Arabia.

During a visit to the Middle East, Yaccarino also met with Dubai’s leader Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. UK court findings revealed that Sheikh Maktoum’s agents used NSO spyware to target the phones of his ex-wife and her legal team in 2021.

Source: www.theguardian.com

Elon Musk prioritizes expanding Tesla’s market share over pursuing AI ambitions.

Tesla CEO Elon Musk stated that in order to help Tesla become a leader in artificial intelligence and robotics, he would require at least 25% of voting power, which is almost double his current holdings. He mentioned facing resistance in achieving this goal.

On a social media platform, Musk mentioned that it is not impossible to achieve this goal. Tesla aims to have its products manufactured outside of electric car manufacturers.

Musk has been promoting Tesla’s partially automated “fully self-driving” software and prototype humanoid robots. However, the majority of Tesla’s revenue comes from its auto business.

According to Morgan Stanley analyst Adam Jonas, some analysts have highlighted the significance of technology such as Tesla’s Dojo supercomputer, used to train its AI models, in the valuation of the EV maker. He mentioned that “Dojo could add nearly $600 billion to the company’s market value.”

Following Musk’s comments, Tesla shares dipped about 2% in premarket trading on Tuesday.

As the world’s wealthiest individual, Musk currently owns approximately 13% of Tesla shares. He had sold billions of dollars in stock in 2022 to finance his $44 billion acquisition of Twitter.

In another post, Musk mentioned, “A crazy meta multi-class stock structure that gives control to the next 20+ generations of the Zuckerberg family is fine before the IPO, but even a rational dual class is not allowed after the IPO. That’s strange,” referencing Mark Zuckerberg, the founder of Facebook’s parent company.

A dual-class structure in a company involves two or more classes of stock with different voting rights, typically giving more voting rights to the founders and early investors than to other shareholders.

Tesla did not immediately respond to a request for comment.

Musk is currently facing a lawsuit over his compensation package. In 2018, Tesla shareholder Richard Tornetta sued Musk and the board, alleging that Musk had used his advantage over Tesla’s board to secure excessive compensation without being required to work full-time at the EV maker. They are aiming to demonstrate that he has earned the package.

With regards to Company X, Musk stated that there was no “dispute” with the board over the new compensation package, and mentioned that the pending verdict was affecting discussions.

Source: www.theguardian.com