Larry Ellison overtakes Elon Musk to become world's richest person
The boost came after Oracle's quarterly results smashed Wall Street expectations, with the company reporting a surge in bookings and issuing an aggressive growth outlook for its cloud infrastructure business.
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Larry Ellison, co-founder, chairman, and chief technology officer of Oracle Corp., has officially become the world's richest person, ending Elon Musk's nearly year-long reign at the top of the Bloomberg Billionaires Index, as per media reports.
Ellison's wealth surged by an unprecedented $101 billion in a single day, lifting his total fortune to $393 billion as of 10:10 a.m. in New York. Musk now trails behind with an estimated $385 billion. The massive leap marks the one-day increase ever recorded in the index's history.
The boost came after Oracle's quarterly results smashed Wall Street expectations, with the company reporting a surge in bookings and issuing an aggressive growth outlook for its cloud infrastructure business.
Oracle shares, which had already risen 45% in 2025, skyrocketed another 41% on Wednesday - the biggest single-day jump in the company's history.
By contrast, Tesla Inc. shares are down 13% this year, denting Musk's wealth despite a proposed record-breaking pay package that could make him the world's first trillionaire if performance targets are met.
Ellison, 81, who co-founded Oracle in 1977, has most of his fortune tied to the company's stock.
His rise to the top marks a new chapter in the billionaires' race, which has seen frequent shifts between Musk, Amazon Founder Jeff Bezos, and LVMH chairman Bernard Arnault in recent years.
