Oracle co-founder Larry Ellison briefly became the world’s richest person as Oracle shares surged. Share prices are rising on reports that Oracle could be part of a group allowing TikTok to continue operating in the U.S. A deal is being negotiated, with ByteDance’s role still uncertain. Oracle shares are up 5% in premarket trading. Treasury Secretary Scott Bessent says a “framework for a TikTok deal” has been reached. President Trump has suggested a deal has been made. Oracle’s shares recently soared due to a substantial backlog and the AI spending boom, temporarily making Ellison the richest person in the world.

Read more at Yahoo Finance: Oracle Stock Surges on Reported TikTok Deal Involvement