Oracle co-founder Larry Ellison became the world’s richest person after shares in his company surged 40%.
Ellison’s 41% stake in Oracle is now valued at $393bn, just above Musk’s $384bn fortune.
Oracle shares hit $340, giving the company a $958bn valuation and marking its largest single-day gain ever.
Ellison, 81, also holds Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.
He previously served on Tesla’s board and invested $1bn in Musk’s Twitter purchase.
Ellison and Musk maintain a close relationship, with Musk visiting Ellison’s Lanai island frequently.
Both men have ties to Donald Trump, though Musk’s relationship with the former president recently cooled.
Oracle’s rise is driven by AI companies’ demand for cloud computing, including OpenAI’s data needs.
Musk first became the world’s richest person in 2021 and regained the title last year before losing it to Ellison.
Larry Ellison Tops Elon Musk as World’s Richest
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.