Oracle co-founder Larry Ellison has officially claimed the title of the world’s richest person, overtaking Tesla chief Elon Musk on the Bloomberg Billionaires Index. The 81-year-old billionaire saw his wealth skyrocket by an unprecedented $101 billion in a single day, marking the largest one-day gain ever recorded on the index.
The surge came after Oracle released quarterly earnings that surpassed Wall Street expectations and highlighted significant growth in its cloud infrastructure business. Following the results, Oracle’s stock soared 41% on Wednesday, adding to the company’s 45% rally earlier this year.
Ellison, who serves as Oracle’s chairman and chief technology officer, holds most of his fortune in the company’s shares, which drove his net worth to an estimated $393 billion.
This historic jump pushed Ellison ahead of Elon Musk, whose fortune now stands at $385 billion. Musk, who first reached the top of the global wealth rankings in 2021, reclaimed the spot last year and maintained it for more than 300 days. However, Tesla shares have dipped 13% this year, weighing on Musk’s net worth.
Over the past decade, the world’s richest person title has frequently shifted between Musk, Amazon founder Jeff Bezos, and LVMH chairman Bernard Arnault. While Musk may have lost the crown for now, Tesla’s board has proposed a massive compensation package that could one day make him the world’s first trillionaire if he achieves ambitious performance milestones.
Ellison’s rise to the top underscores the growing influence of cloud computing and the massive investor confidence in Oracle’s future. His ascent also signals a new chapter in the race among tech titans dominating the global wealth rankings.
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