Oracle co-founder Larry Ellison has overtaken Tesla and SpaceX chief Elon Musk to become the world’s richest person, according to the latest Bloomberg Billionaires Index.
Oracle Stock Surge Drives Wealth Boom
The dramatic shift comes after a 40% surge in Oracle’s stock price, fueled by soaring global demand for artificial intelligence (AI) infrastructure and cloud computing services. Analysts hailed it as an “astonishing quarter” for the tech giant.
Oracle’s growth has been propelled by major contracts with global players, including OpenAI, Meta, and Nvidia.
Related: Bloomberg Billionaires Index latest rankings
Ellison’s Record-Breaking Wealth Increase
Ellison, who owns about 41% of Oracle, has seen his fortune rise to nearly $397 billion, surpassing Musk’s estimated $385 billion.
According to Bloomberg, Ellison’s $100 billion single-day wealth increase is the largest ever recorded on its index.
Musk’s Wealth Hit by Tesla Decline
Elon Musk, who had intermittently held the world’s richest title since 2021, has been impacted by falling Tesla stock prices, political controversies, and declining investor confidence.
Ellison’s wealth, meanwhile, remains heavily tied to Oracle, though he also owns stakes in Tesla, holds the Hawaiian island of Lanai, and invests in sailing and tennis.
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