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
Andrew Rogers
Andrew Rogers is a freelance journalist based in the USA, with over 10 years of experience covering Politics, World Affairs, Business, Health, Technology, Finance, Lifestyle, and Culture. He earned his degree in Journalism from the University of Florida. Throughout his career, he has contributed to outlets such as The New York Times, CNN, and Reuters. Known for his clear reporting and in-depth analysis, Andrew delivers accurate and timely news that keeps readers informed on both national and international developments.
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