Larry Ellison Surpasses Elon Musk as World’s Richest Billionaire

Larry Ellison, co-founder and chairman of Oracle Corporation, has officially overtaken Elon Musk as the world’s richest individual, according to the Bloomberg Billionaires Index. The shift in global wealth rankings comes after a surge of more than 40% in Oracle’s stock, propelling Ellison’s net worth to unprecedented levels.

Ellison’s wealth soared by an astonishing $101 billion in a single day, marking the largest one-day increase ever recorded by the Bloomberg index. Oracle shares closed at $344.90 on Wednesday, pushing the company’s market capitalization to approximately $400 billion.

At the start of the day, Ellison’s net worth stood at $295 billion. By market close, he was worth $393 billion, overtaking Elon Musk, whose current net worth is estimated at $384 billion.

The dramatic surge in Oracle’s valuation came on the heels of strong demand for its AI-focused data center infrastructure. The company reported an influx of interest from major artificial intelligence clients, signaling growing confidence in Oracle's cloud capabilities. This optimism triggered a stock rally, catapulting Ellison to the top of the billionaire leaderboard.

This marks the third time Elon Musk has lost the top spot since first becoming the world’s richest person in 2021. Previously, he was briefly surpassed by: Bernard Arnault, chairman of luxury giant LVMH, in 2021, and Jeff Bezos, founder of Amazon, in 2024.

Now, Larry Ellison, at 81 years old, holds the title for the first time, a striking milestone in a decades-long career that helped shape the modern software industry.

Ellison’s new position at the top comes with a narrow lead, just $9 billion ahead of Musk. Given the volatility of tech stocks and the rapid fluctuations in net worth among billionaires, analysts suggest the top spot could change hands again in the near future.

Still, today's leap stands as a testament to the explosive momentum in AI-related investments, as well as Ellison’s long-term bet on Oracle’s transformation into a cloud and infrastructure powerhouse.