Oracle co-founder Larry Ellison overtook Elon Musk after Oracle shares surged 40% in early trading.
Ellison’s 41% stake is now worth $393bn, slightly ahead of Musk’s $384bn, Bloomberg reports.
The rise marked Oracle’s largest single-day increase and the biggest one-day wealth gain on Bloomberg’s index.
Ellison, 81, also owns Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.
He served on Tesla’s board from 2018 to 2022 and invested $1bn in Musk’s Twitter purchase.
Musk frequently visits Ellison’s island, Lanai, and the two share a long-standing personal and business relationship.
Both men have ties to Donald Trump, though Musk’s relationship reportedly soured earlier this year.
Oracle’s growth is driven by rising demand for cloud services from AI companies like OpenAI.
Musk first became the world’s richest person in 2021, regained it last year, but has now ceded it to Ellison.
Larry Ellison Surpasses Elon Musk as Richest Person
Andrew Rogers
Andrew Rogers is a freelance journalist based in the USA, with over 10 years of experience covering Politics, World Affairs, Business, Health, Technology, Finance, Lifestyle, and Culture. He earned his degree in Journalism from the University of Florida. Throughout his career, he has contributed to outlets such as The New York Times, CNN, and Reuters. Known for his clear reporting and in-depth analysis, Andrew delivers accurate and timely news that keeps readers informed on both national and international developments.
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