Technology
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Technology
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PRESENTED BY INTERNATIONAL JUSTICE MISSION
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Larry Ellison becomes world’s richest person
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Oracle co-founder Larry Ellison has dethroned Tesla CEO Elon Musk as the world’s richest person.
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© AP Photo/Mark J. Terrill
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Ellison’s net worth grew a massive $101 billion Wednesday morning to $393 billion, surpassing Musk’s $385 billion fortune, according to Bloomberg.
The surge in Ellison’s wealth comes after Oracle’s stock soared 40 percent Wednesday.
The company reported earnings late Tuesday, touting several multibillion-dollar contracts that are expected to result in $455 billion in future revenue.
“It was an astonishing quarter—and demand for Oracle Cloud Infrastructure continues to build,” Oracle CEO Safra Catz said in a statement.
Catz added that the cloud company plans to sign up several more multibillion-dollar customers in the next few months, which could push its remaining performance obligations above $500 billion.
She also laid out an ambitious forecast for Oracle’s cloud infrastructure division, with the company expecting a 77 percent increase in revenue to $18 billion in fiscal year 2026.
It further anticipates cloud infrastructure revenue will grow to $32 billion, $73 billion, $114 billion and $144 billion over the following four years.
Musk, who has held the title of the world’s richest person for nearly a year, saw his net worth surge to a peak of $486 billion last December.
However, his wealth declined significantly earlier this year, as his government work weighed heavily on his companies, most notably Tesla.
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Welcome to The Hill’s Technology newsletter, I’m Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley.
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How policy will be impacting the tech sector now and in the future:
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Snapchat launched a new digital safety course for teens Wednesday, targeting several key risks young users could encounter online. The program, called The Keys, aims to educate teens about bullying, illicit drug activity, nude and intimate images and sextortion through a course that takes inspiration from driver’s education, the company said in a press release. “There’s one piece in the classroom, and then you …
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Tech billionaire Elon Musk said Tuesday that he believes the federal government is irreparably broken, following his brief stint leading the White House’s Department of Government Efficiency (DOGE) this year. “The government is basically unfixable,” he said during a virtual appearance at the All-In Summit. “It’s good to have talented people in the administration, but at the end of the day, if you look at our …
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It’s early September, which means Apple has unveiled its newest lineup of AirPods, watches and iPhones, including a new version of the latter that’s unlike others before it. Alongside iPhone 17, Apple debuted the iPhone Air on Tuesday, calling it “the thinnest iPhone ever made.” It comes in at 5.6 millimeters thick, more than 2 millimeters thinner than the iPhone 16 and the iPhone 17, also unveiled Tuesday. …
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News we’ve flagged from the intersection of tech and other topics:
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Oracle, OpenAI sign massive $300 billion cloud computing deal (Wall Street Journal)
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Bluesky will comply with age-verification laws in South Dakota and Wyoming after exiting Mississippi (TechCrunch)
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CFTC nominee shares Winklevoss texts amid halted confirmation process
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© Al Drago/Bloomberg via Getty Images
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Welcome to Crypto Corner, a new feature in The Hill’s Technology newsletter focused on digital currency and its outlook in Washington.
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President Trump’s nominee to chair the Commodity Futures Trading Commission (CFTC) on Wednesday shared private messages between himself and crypto billionaires Cameron and Tyler Winklevoss after they reportedly urged against his confirmation.
Brian Quintenz, who originally appeared poised to sail through the Senate confirmation process, has yet to advance out of the Senate Agriculture Committee after several delayed votes.
“I’ve never been inclined to release private messages,” Quintenz wrote in a post on X. “But in light of my support for the President and belief that he might have been misled, I’ve posted here the messages that include the questions Tyler Winklevoss asked me pertaining to their prior litigation with the CFTC.”
“I believe these texts make it clear what they were after from me, and what I refused to promise,” he added. “It’s my understanding that after this exchange they contacted the President and asked that my confirmation be paused for reasons other than what is reflected in these texts.”
In the messages, Tyler Winklevoss apparently asked Quintenz for his thoughts on a complaint that his crypto exchange Gemini had filed with the CFTC’s inspector general, suggesting the agency had “totally abused the deliberative process privilege.”
Quintenz responded by saying he would “commit to you to having a fair and reasonable review of the matter.” However, he also noted that any solutions should be left to a fully confirmed chair.
“If anyone at the commission is communicating with you in attempt to undermine or color my potential consideration of these things, regardless of how personal or impactful they have been, I would give that careful thought,” Quintenz added.
The conversation appeared to spiral from there, as Winklevoss raised numerous questions about the CFTC nominee’s response, including how he plans to align with the president’s agenda.
“Cultural reform, which includes rectifying what happened to us should be the highest priority,” Winklevoss said. “I’d like to understand your thoughts on this how you plan to align with President Trump and the Administration’s mandate to end the lawfare and make amends for it.”
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A MESSAGE FROM INTERNATIONAL JUSTICE MISSION
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Two key stories on The Hill right now:
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Shouting broke out on the House floor after Speaker Mike Johnson (R-La.) held a moment of prayer for conservative commentator Charlie Kirk, who was … Read more
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Charlie Kirk, the prominent conservative activist and staunch Trump ally who co-founded Turning Point USA, was fatally shot Wednesday while speaking … Read more
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You’re all caught up. See you tomorrow!
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Daily – Vickers Top Buyers & Sellers for 09/10/2025

England suffered a 14-run defeat by South Africa in a farcical rain-affected opening T20 at Cardiff.
A delayed start saw the match reduced to nine overs per side, and the Proteas blitzed 97-5 in 7.5 overs before another rain disruption.
England’s target was revised to 69 in five overs, and with little choice but to attack from the outset, they reached 43-5 needing 26 from five balls.
From there, the recalled Sam Curran whacked a six to offer the hosts a glimmer of hope, but the tourists eventually closed out a comfortable win as England finished on 54-5 with two wickets apiece for Corbin Bosch and Marco Jansen.
Jos Buttler had kept England alive with 25 from 11, including three sixes, but they were left to rue top-order wickets as Phil Salt was caught at fine leg from the first ball of the chase, Jacob Bethell chipped to cover for seven and captain Harry Brook made a chaotic four-ball duck.
Earlier, Jofra Archer was replaced by Luke Wood in a late change, and the seamer removed Ryan Rickelton in the first over before captain Aiden Markram led the charge with 28 from 14 balls.
Dewald Brevis, who became the SA20’s most expensive player in Tuesday’s auction, made an entertaining 23 from 10 balls before he fell to the recalled Curran’s first ball while Donovan Ferreira finished unbeaten with 25 from 11.
The three-match series continues at Old Trafford on Friday, where rain is also forecast.

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Energy & Environment
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Energy & Environment
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Defense bills loosen PFAS rules for Pentagon
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Provisions in the House and Senate annual defense authorization bills reduce restrictions on the Pentagon’s use of “forever chemicals.”
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© Jake May, The Flint Journal via Associated Press
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In the House, one such provision is generating pushback even from Republicans.
“Forever chemicals” are the nickname for a family of man-made chemicals known as per- and polyfluoroalkyl substances (PFAS). These chemicals, which have been linked to health issues including cancer, have been used by the military for years in firefighting foam.
They have also been used in firefighter gear used by the military and civilians, as well as in common products including nonstick pans, fast food packaging, clothing, furniture, cosmetics and more.
As the public and policymakers became more aware of the hazards posed by these substances, past iterations of the National Defense Authorization Act (NDAA) have restricted the military’s use of them and sought to require the military to clean them up.
This year, however, the legislation seems to be rolling back some of those restrictions.
The House version of the bill contains a provision that delays the phaseout of the use of forever chemicals in military firefighting foam.
Previous bills required the military to stop using PFAS-laced firefighting foam by October 2024, with some possibilities for extension, but, if the measure passes, the military will be able to purchase new foam with these chemicals through 2026, with advocates fearing this will extend its use.
“The language would extend their ability to purchase and use” PFAS-containing foam until October 2026, said Jared Hayes, a senior policy analyst at the Environmental Working Group.
He said that extension waivers would be expected to restart the military’s ability to use two, one-year waivers, meaning the use of this foam would be expected to be allowed until 2028.
“This really exacerbates the contamination problem. …We’re going to see more contamination, driving up cleanup costs and essentially condemning more defense communities and another generation of service members,” Hayes added.
The Senate bill, meanwhile rescinds prohibitions on the military’s ability to purchase cookware, carpets and rugs that contain two of the most toxic types of forever chemicals.
It also lifts a restriction on the military’s ability to incinerate PFAS, a controversial and debated method of disposing of these substances.
If both bills pass as-is, it’s not clear which of these provisions, if any, will make it into the final version, as lawmakers will have to confer to address differences before sending it to the president’s desk.
Read more at TheHill.com.
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Welcome to The Hill’s Energy & Environment newsletter, I’m Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
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How policy will affect the energy and environment sectors now and in the future:
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The Trump administration on Wednesday proposed to revoke a Biden-era rule that sought to conserve more public lands as opposed to opening them up to mining, drilling or grazing.
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Fifty-five heat waves over the past quarter-century would not have happened without human-caused climate change, according to a study published Wednesday.
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ADDIS ABABA, Ethiopia (AP) — Ethiopia on Tuesday inaugurated Africa’s largest dam to boost the economy, end frequent blackouts and support the growth of electric vehicle development in a country that has banned the importation of gasoline-powered vehicles.
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News we’ve flagged from other outlets touching on energy issues, the environment and other topics:
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Upcoming news themes and events we’re watching:
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The Senate Energy and Natural Resources Committee will vote on whether to advance legislation and nominees to the Federal Energy Regulatory Commission
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Two key stories on The Hill right now:
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Conservative activist Charlie Kirk was fatally shot while speaking at a Utah college campus, President Trump announced on social media. Read more
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Poland invoked Article 4 of the North Atlantic Treaty on Wednesday after fighter jets shot down multiple Russian drones that illegally entered Polish airspace. Read more
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You’re all caught up. See you tomorrow!
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