Oracle co-founder Larry Ellison overtook Elon Musk after Oracle shares surged 40% in early trading.
Ellison’s 41% stake is now valued at $393bn, slightly ahead of Musk’s $384bn fortune.
The rise marked Oracle’s largest single-day gain and the biggest wealth increase ever on Bloomberg’s index.
Ellison, 81, also holds Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.
He has long been close to Musk, investing $1bn in the Twitter purchase and serving on Tesla’s board until 2022.
Both men have had ties to Donald Trump, though Musk’s relationship reportedly soured earlier this year.
Oracle’s growth is driven by rising demand for cloud services from AI companies like OpenAI.
Musk first became the world’s richest person in 2021, regained the title last year, and has now ceded it to Ellison.
Larry Ellison Surpasses Elon Musk as World’s Richest
By OMN AI
OMN AI
This article was created with the assistance of OMN AI, the AI-powered editorial platform developed by OMN Group. Every article is reviewed, fact-checked, and approved by a human journalist before publication to ensure accuracy and editorial quality. Learn more at https://omngroup.com
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