On Thursday, Warner Bros. Discovery said Paramount Skydance’s latest proposal of $31 per share qualifies as a “Company Superior Proposal” under its existing merger agreement with Netflix.

That decision gave Netflix four business days to respond with a better offer, but Netflix chose not to.

“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval,” said Netflix co-CEOs Ted Sarandos and Greg Peters in a statement.

“However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.”

Warner Bros. Discovery must now pay Netflix a $2.8 billion termination fee to exit their agreement, however, Paramount Skydance has agreed to cover that cost as part of its revised bid.

The offer values Warner Bros. Discovery at about $111 billion. It includes the company’s film and television studios, HBO, its streaming platforms, gaming arm and cable networks such as CNN, TNT, TBS, Discovery and HGTV.

Paramount itself was acquired last year by Skydance Media, controlled by David Ellison. The deal was backed by his father, Larry Ellison, the executive chair of Oracle and one of the world’s richest men.

Larry Ellison has agreed to provide additional equity if required to support the financing.

Paramount will also take on roughly $33 billion of Warner Bros Discovery’s debt. The acquisition is backed by a $57.5 billion debt commitment from Bank of America Merrill Lynch, Citi and Apollo Global Management.

Netflix first moved on Warner Bros. Discovery in December with an offer worth nearly $83 billion for its studios and streaming business. Paramount countered several times.

At one point, it offered $108 billion for the full company, including its traditional television networks. Its latest $31-per-share bid ultimately prevailed.

Warner Bros. Discovery’s board said it reached its decision after consulting independent financial and legal advisers. While the Netflix agreement is technically still in place during the notice period, the board confirmed it has informed Netflix of its determination.

David Ellison has already warned that job cuts are likely once the transaction closes. His growing influence in news media has drawn attention, especially following changes at CBS, another asset under his control. Larry Ellison is a primary donor and supporter of President Donald Trump.

Shortly after, Netflix shares rose by as much as 10% in after-hours trading in New York while Paramount shares gained about 4.5%.

Warner Bros. Discovery has filed the required documents with the US Securities and Exchange Commission in relation to both the Paramount tender offer and its earlier agreement with Netflix.

Shareholders have been advised to review those filings in full before taking any action.

This comes nearly two months after Warner Bros rejected Paramount’s initial $30-a-share bid in favour of a deal to sell its streaming and studio businesses to Netflix.

Warner Bros’ board said Paramount has addressed many issues noted in previous offers. “To be clear, our Board has not determined that your proposal is reasonably likely to result in a transaction that is superior to the Netflix merger,” Warner Bros Chairman Samuel DiPiazza Jr. and CEO David Zaslav wrote in a letter to Paramount.

“We continue to recommend and remain fully committed to our transaction with Netflix.”

Warner Bros. Discovery Board Weighs Paramount’s Sweetened $30 Per Share Bid

Paramount has offered to increase its bid to $31 per share if Warner Bros agrees to open formal talks. The company has also provided a personal guarantee of $40 billion in equity from Oracle founder Larry Ellison, father of Paramount CEO David Ellison.

Warner Bros said it expects Paramount’s best and final offer to exceed that amount.

Paramount’s latest attempt to win over shareholders includes extra cash for each quarter the deal fails to close and covering the $2.8 billion breakup fee Warner Bros would owe Netflix if the merger falls through.

Despite these concessions, Warner Bros said Paramount’s offer still leaves important issues unresolved, including coverage of potential $1.5 billion junior lien financing fees and full certainty of equity funding.

The Netflix deal, which values Warner Bros’ studios and streaming assets at $82.7 billion, is still the board’s recommended option.

Shareholders are scheduled to vote on the merger on March 20, after Warner Bros spins off its Discovery Global cable operations into a separate public company.

Discovery Global includes CNN, TLC, Food Network, and HGTV and could fetch between $1.33 and $6.86 per share, according to Warner Bros estimates.

Paramount has also pushed to nominate directors to Warner Bros’ board, with Pentwater Capital CEO Matt Halbower among potential candidates. “Every substantive complaint that the Warner Bros board had with Paramount’s previous offer has been addressed,” Halbower said last week.

Activist investor Ancora Holdings, which owns nearly $200 million in Warner Bros shares, has urged the company to fully engage with Paramount’s proposal. Netflix, meanwhile, acknowledged the renewed talks but reaffirmed its confidence in the merger.

“While we are confident that our transaction provides superior value and certainty, we recognize the ongoing distraction for WBD stockholders and the broader entertainment industry caused by PSKY’s antics,” Netflix said.

Paramount Skydance’s market value stands at $11.1 billion, with shares trading around $10.32. Warner Bros Discovery’s market cap is roughly $69.4 billion, with shares at $27.99.

Netflix is by far larger at $324.6 billion, trading near $76.87. Analysts say this scale explains why the Netflix offer is seen as more stable despite its lower total dollar value.

Ellison’s wealth now sits between $393 billion and $405 billion, depending on valuation time, according to the Bloomberg Billionaires Index and Forbes.

The 81-year-old co-founder of Oracle holds roughly 41% of the company, giving him direct exposure to its largest-ever market rally. Musk, whose fortune is largely tied to Tesla, slipped to second place with around $384–385 billion after a difficult year for the electric carmaker.

Oracle’s gains were driven by stunning quarterly results that revealed a 12% jump in revenue to $14.9 billion, cloud revenue growth of 28% to $7.2 billion, and an eye-catching 359% increase in future performance obligations, now standing at $455 billion. 

The company also announced four multi-billion-dollar contracts, including with OpenAI, Nvidia, Meta, and AMD, signalling investor confidence in its strategy to challenge Amazon, Microsoft, and Google in the cloud race.

CEO Safra Catz told investors: “Infrastructure revenue is expected to grow from $18 billion to $144 billion within the next five years, far above Wall Street’s estimates.” Oracle has also committed 4.5 gigawatts of electricity to support OpenAI’s data centres and unveiled its Oracle AI Database, designed to run models like ChatGPT, Gemini, and Grok directly on its infrastructure.

For Ellison, his wealth jumped by a record $101 billion on Wednesday alone, the largest single-day increase ever recorded by Bloomberg’s wealth tracker. Beyond Oracle, he owns 98% of the Hawaiian island of Lanai, has revitalised the Indian Wells tennis tournament, and is backing the $500 billion Stargate AI infrastructure project in the United States.

Musk’s setback shows how fortunes can swing in volatile markets. Tesla shares have fallen 13–14% this year resulting from slowing demand, rising competition, and political eyes. Despite this, Musk still retains high stakes in Tesla, SpaceX, and other ventures, keeping him firmly in the race for future wealth leadership.

Larry Ellison, who has long been a central figure in Silicon Valley but usually overshadowed by others like Musk and Jeff Bezos, is now at the very top of the billionaire rankings. 

Meta’s Mark Zuckerberg and Oracle’s Larry Ellison had the highest, each adding $9 billion to their net worth.

Nvidia co-founder Jensen Huang followed with $5.4 billion, while Google’s Larry Page and Sergey Brin gained $4.5 billion and $4.3 billion respectively.

The windfall results from the deepening concentration of wealth and influence among Silicon Valley’s most powerful figures. 

These are not fleeting market blips, the growth is tied to the technologies reshaping everything from global communications to financial systems.

Zuckerberg, now the third-richest person in the world with $267.7 billion, controls about 13% of Meta. The company’s stock has risen 40% since April 2025, driven by AI-powered advertising and smart glasses. 

Back in 2015, Zuckerberg and his wife, Priscilla Chan, pledged to donate 99% of their Meta shares over their lifetimes, one of the most noteworthy philanthropic promises of the modern era.

Just ahead of him in the global rankings is Ellison, whose $298.3 billion fortune places him second only to Elon Musk. The Oracle co-founder stepped down as CEO in 2014 but still drives the company’s strategic acquisitions. He lives permanently on the Hawaiian island of Lanai, which he purchased almost entirely for $300 million in 2012.

Huang’s rise is perhaps the most emblematic of the AI era. Nvidia, once a graphics card specialist, now dominates AI hardware. In Q1 2026, its data centre division alone generated $39 billion, 89% of its revenue, with forecasts pointing to $200 billion for the fiscal year. 

Under Huang’s leadership, Nvidia’s valuation topped $3 trillion in 2024. His net worth now stands at $156.6 billion.

Page and Brin, despite stepping back from Google’s daily operations in 2019, remain among the most influential figures in tech. Their stakes in Alphabet keep their fortunes at $160.3 billion and $153 billion respectively, built on the algorithms they pioneered more than two decades ago.

As of August 2025, eight of the world’s ten wealthiest people are tech leaders, including Musk, Ellison, Zuckerberg, Page, Brin, Huang, Steve Ballmer, and Jeff Bezos. 

Their combined wealth stands at $2.1 trillion, up $100 billion since July. In total, 450 tech billionaires control an estimated $5.2 trillion, representing nearly one-third of all billionaire wealth.

The ongoing AI boom is creating new billionaires in semiconductors, cloud platforms, and generative AI startups like Anthropic and CoreWeave. Yet the same trend is intensifying debates over monopolies, digital inequality, and the vast control a handful of companies wield over critical infrastructure.

As an analyst stated, “This isn’t just a story about money, it’s a story about who owns the future.”

Mark Zuckerberg was the biggest winner. Meta’s CEO saw his net worth jump by $16 billion, reaching $220.9 billion. This places him as the third-richest person alive. 

The reason was that Meta shares surged after markets digested news of easing global trade pressures. His 13% stake in the company continues to pay off as confidence grows in Meta’s move toward the metaverse and artificial intelligence.

Jeff Bezos came next. The Amazon founder added $14.2 billion to his fortune, which now sits at $223.6 billion. Even though he stepped down as CEO in 2021, he still owns just under 10% of Amazon. 

The company’s shares jumped 8%, driven by hopes that reduced trade friction will cut down import costs, good news for Amazon’s sellers who source heavily from China.

Elon Musk wasn’t left behind. Tesla’s stock rose, and with it, Musk’s net worth increased by $11.3 billion. That puts him at $406.9 billion, maintaining his top spot as the richest man in the world. 

Investors were not only bullish on Tesla, but also on xAI, his artificial intelligence firm valued at $50 billion. Musk holds 42% of SpaceX and about 12% of Tesla, although much of his Tesla stock is pledged as collateral.

Oracle Co-founder Larry Ellison rounded out the top four, gaining $8.2 billion. He now holds $196.1 billion in wealth, putting him fourth globally. His fortune is closely tied to Oracle’s growth trajectory, with Ellison owning about 40% of the company.

Oracle’s share price rose off the back of growing expectations around AI-driven enterprise software demand and large-scale acquisitions like Cerner.

This sudden market rally wasn’t isolated. The entire “Magnificent 7”—Apple, Amazon, Meta, Microsoft, Alphabet, Tesla, and Nvidia—gained $837.5 billion in market value in just one day, making it the largest single-day jump for the group since early April.

Tech investors took the tariff pause between the U.S. and China as a sign of temporary stability. It doesn’t mean the trade issue is over, but it offered a window of relief.

Supply chain disruptions have affected chipmakers and consumer tech brands alike. This move led to immediate confidence, particularly in the semiconductor sector.

Nvidia, AMD, Qualcomm, and Broadcom all rose by roughly 5–6%. Marvell led the chipmakers, jumping 8%. Apple also rose 6%, despite warning it may still face $900 million in added costs this quarter due to previously announced tariffs.

Chinese tech stocks listed in New York—Alibaba, Baidu, JD.com—saw their own bump. European chipmakers like ASML and Infineon followed suit.

With a budget of $500 billion over the next four years, the project aims to enhance computing capacity, create hundreds of thousands of jobs, and strengthen national security. 

An initial $100 billion will be deployed immediately, starting with a flagship data centre project in Texas.

SoftBank and OpenAI are the lead partners, with SoftBank handling financial responsibilities and OpenAI overseeing operations. 

Masayoshi Son, SoftBank’s CEO, has been named chairman of Stargate, with major stakeholders including MGX, NVIDIA, Arm, and Microsoft. Speaking about the scale of the project, Oracle co-founder Larry Ellison said, “Each building is a half a million square feet. There are 10 buildings currently being built.”

The Stargate initiative has already begun construction in Texas, marking the launch of its first data centre, which will eventually expand to other states. These facilities will include cutting-edge AI computing systems developed collaboratively by OpenAI, NVIDIA, and Oracle. 

The partners have also announced plans to scale up to 20 data centre installations by 2029, evaluating additional sites across the country to accommodate future expansion. Reports reveal that these data centres will include innovative AI chips designed by OpenAI, with semiconductor giants Broadcom and TSMC involved in chip production.

A Network of Collaborations

The project builds on longstanding partnerships. OpenAI and NVIDIA have collaborated since 2016, while OpenAI’s relationship with Microsoft has grown through its extensive use of Microsoft Azure for AI model training. Oracle’s existing agreements to supply AI computing resources also strengthen its role in the venture.

SoftBank’s deep involvement in OpenAI predates this project as the company previously committed $500 million to OpenAI’s funding round and an additional $1.5 billion to facilitate a tender offer for its employees. Again, Middle East AI fund MGX, which has invested in OpenAI, will also be leveraged in Stargate.

While the Stargate Project has good prospects, issues about environmental and social impacts haven’t been ignored. Data centres, known for their heavy water usage and high energy consumption, could stress resources in regions with limited infrastructure. Issues about the long-term job creation promised by similar large-scale projects have also been raised.

Nonetheless, experts like Goldman Sachs projects that AI-related data centre demand will account for nearly 19% of total power consumption by 2028, noting the sector’s quick expansion. A McKinsey report forecasts that spending on data centre infrastructure could exceed $250 billion within the next five years.

OpenAI CEO Sam Altman has called for fewer regulatory limitations to accelerate the development of critical infrastructure projects in the United States. Highlighting challenges in an interview, Altman said, “The thing I really deeply agree with [President Trump] on is, it is wild how difficult it has become to build things in the United States… Power plants, data centres, any of that kind of stuff. I understand how bureaucratic cruft builds up, but it’s not helpful to the country in general.”

Nonetheless, the Stargate Project has garnered support from stakeholders and government officials. Hence, with a focus on re-industrialisation and innovation, the initiative is expected to bolster AI infrastructure and boost the United States’ innovation in global AI leverage.

Jeff Bezos is the 3rd-richest person in the world, with about $127 billion in current real-time total net worth. Bill Gates ranked 4th with a personal wealth of $120 billion, followed by Warren Buffett with $107 billion.

The list of the world’s wealthiest people can vary daily, depending on their latest net worth and financial performance.

Larry Ellison ranked 6th with a personal wealth of $107 billion, followed by Steve Ballmer with $102 billion.

Larry Page is placed 8th with a net worth of $95.8 billion. Sergey Brin ($91.6 billion) occupied the 9th position on the top 10 wealthiest people in the world list, followed by Francoise Bettencourt Meyers (No. 10, $88.4 billion).

These are the top billionaires: Here’s a countdown of the 100 World Richest Men 2023 on the planet by net worth:

Rank Billionaire Net Worth Country:

1. Bernard Arnault $199 billion France

2. Elon Musk $187 billion United States

3. Jeff Bezos $127 billion United States

4. Bill Gates $120 billion United States

5. Warren Buffett $107 billion United States

6. Larry Ellison $107 billion United States

7. Steve Ballmer $102 billion United States

8 Larry Page $95.8 billion United States

9 Sergey Brin $91.6 billion United States

10 Francoise Meyers $88.4 billion France

11 Carlos Slim $86.6 billion Mexico

12 Mukesh Ambani $80.5 billion India

13 Mark Zuckerberg $77.9 billion United States

14 Amancio Ortega $68.5 billion Spain

15 Zhong Shanshan $67.7 billion China

16 Charles Koch $67.3 billion United States

17 Julia Flesher Koch &family $67.3 billion United States

18 Jim Walton $66.5 billion United States

19 Rob Walton $66.0 billion United States

20 Alice Walton $64.6 billion United States

21 Gautam Adani $56.4 billion India

22 Jacqueline Badger Mars $55.6 billion United States

23 John Mars $55.6 billion United States

24 Michael Dell $49.6 billion United States

25 Alain Wertheimer $48.4 billion France

26 Gerard Wertheimer $48.4 billion France

27 Phil Knight & family $46.0 billion United States

28 Francois Pinault $45.1 billion France

29 Klaus-Michael Kuehne $44.3 billion Germany

30 Giovanni Ferrero & family $43.8 billion Italy

31 Ma Huateng $42.5 billion China

32 Zhang Yiming $42.3 billion China

33 Len Blavatnik $36.6 billion United States

34 Miriam Adelson $36.1 billion United States

35 Ken Griffin $35.3 billion United States

36 Jack ma $34.4 billion China

37 Tadashi Yanai $34.1 billion Japan

38 Zeng Yuqun $34.0 billion Hong Kong

39 Jeff Yass $33.8 billion United States

40 Abigail Johnson $30.7 billion United States

41 Changpeng Zhao $30.4 billion Canada

42 Stephen Schwarzman $30.4 billion United States

43 German Larrea $29.5 billion Mexico

44 Vladimir Potanin $29.0 billion Russian Federation

45 Low Tuck Kwong $28.9 billion Indonesia

46 Li Ka-shing $28.7 billion Hong Kong

47 Shapoor Mistry $28.0 billion India

48 William Ding $27.5 billion China

49 Leonard Lauder $26.8 billion United States

50 Colin Huang $26.7 billion China

51 Takemitsu Takizaki $26.5 billion Japan

52 Leonid Mikhelson $26.3 billion Russian Federation

53 Thomas Peterffy $25.7 billion United States

54 Iris Fontbona & family $25.5 billion Chile

55 James Simons $25.5 billion United States

56 Shiv Nadar $25.4 billion India

57 Susanne Klatten $25.4 billion Germany

58 Jensen Huang $25.2 billion United States

59 Dieter Schwarz $24.9 billion Germany

60 Carl Icahn $24.7 billion United States

61 Rodolphe Saade & family $24.3 billion France

62 Henry Cheng $24.3 billion Hong Kong

63 He Xiangjian $23.5 billion China

64 Xu Yangtian $23.5 billion China

65 Gina Rinehart $23.5 billion Australia

66 Lukas Walton $23.5 billion United States

67 Thomas Frist $23.1 billion United States

68 Andrew Forrest $23.0 billion Australia

69 Stefan Quandt $22.7 billion Germany

70 Jorge Paulo Lemann $22.6 billion Brazil

71 Mackenzie Scott $22.6 billion United States

72 Harold Hamm $22.4 billion United States

73 Azim Premji $22.4 billion India

74 Elaine Marshall $22.4 billion United States

75 Budi Hartono $21.6 billion Indonesia

76 Eric Schmidt $21.4 billion United States

77 Mark Mateschitz $21.2 billion Austria

78 Lee Shau Kee $21.1 billion Hong Kong

79 Vladimir Lisin $21.0 billion Russian Federation

80 Dan Gilbert $20.6 billion United States

81 Ernesto Bertarelli & family $20.6 billion Switzerland

82 Eyal Ofer $20.2 billion Monaco

83 Wang Chuan-Fu $20.0 billion China

84 Aliko Dangote $19.8 billion Nigeria

85 Idan Ofer $19.8 billion Israel

86 Lakshmi Mittal $19.6 billion India

87 Michael Hartono $19.4 billion Indonesia

88 Alisher Usmanov $19.2 billion Russian Federation

89 Alexey Mordashov $19.1 billion Russian Federation

90 Vagit Alekperov $18.5 billion Russian Federation

91 Reinhold Wuerth $18.4 billion Germany

92 Sammy Lee $18.1 billion Hong Kong

93 Peter Woo $17.8 billion Hong Kong

94 Qin Yinglin $17.6 billion China

95 Vicky Safra $17.6 billion Greece

96 Robert Kuok $17.5 billion Malaysia

97 Zhang Zhidong $17.3 billion China

98 Donald Bren $17.2 billion United States

99 Liu Yongxing $17.2 billion China

100 Cyrus Poonawalla $17.2 billion India

Detailed findings & method (World Richest Men 2023):

CEOWORLD magazine put together a panel of experts to review data points from virtually every reputable wealth-tracking media outlet, including Bloomberg, The Richest, Money Inc, Cheat Sheet, GO Banking Rates, Celebrity net worth, Wealthy gorilla, Forbes, and more.

The list includes self-made billionaires, heirs to family fortunes, to business tycoons who have made a lasting impact on the population.

Their power and influence extend beyond those in the industry, so much so that even those with no interest in business want to know how to get to the top of the chain.

Based on a consensus from these sources, the final decision for the ranking was judged editorially.

All data is for the most recent period available. Some were not included in the official statistics for various reasons, primarily due to the lack of necessary data.

Remember, these values and fluctuations are estimations based on multiple variables and publicly available documents.

The margin of sampling error for the entire data sample is plus or minus 1.2 percentage points.

In addition to sampling error, one should remember that, as in all research, there are possible sources of error—such as coverage, nonresponse, and measurement error——that could affect the results.

All figures of the World Richest men 2023 are in US dollars.