Larry Ellison overtook Elon Musk as the world’s richest person after Oracle shares surged 40% in early trading.
The co-founder owns 41% of Oracle, now valued at $958bn, lifting his fortune to $393bn.
Musk’s wealth stands at $384bn, placing him just behind Ellison in Bloomberg’s billionaires index.
The rise marked Oracle’s largest single-day share increase and the biggest wealth jump in index history.
Ellison, 81, also holds wealth through Tesla shares, a sailing team, a tennis tournament, and a Hawaiian island.
He invested $1bn in Musk’s Twitter purchase and previously sat on Tesla’s board.
Oracle’s value has grown as AI companies demand its cloud services to power large-scale datacentres.
Musk, head of Tesla and SpaceX, first became the world’s richest in 2021 before cycling with Bezos and Arnault.
Ellison, a Trump supporter, remains close to Musk, though both have had shifting ties with the former president.
After regaining the top spot last year, Musk ceded it again to Ellison in under a year.
Larry Ellison Becomes World’s Richest, Surpassing Elon Musk
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
Add A Comment