Oracle co-founder Larry Ellison has overtaken Tesla boss Elon Musk to become the world’s richest person, according to the Bloomberg Billionaires Index. The 81-year-old tech mogul’s fortune soared by a record $101 billion in a single day after Oracle reported stellar quarterly results, lifting his net worth to $393 billion — surpassing Musk’s $385 billion.
The surge came on the back of Oracle’s shares skyrocketing 41 percent on Wednesday, following a strong performance in its cloud infrastructure unit and optimistic growth forecasts. Oracle stock has already climbed 45 percent this year, with Ellison’s vast holdings in the company cementing his lead at the top of the global wealth rankings.
Musk, who reclaimed the crown last year and held it for just over 300 days, now slips to second place as Tesla shares continue their 13 percent slide in 2025. The SpaceX and Tesla chief has previously traded places with Amazon’s Jeff Bezos and LVMH’s Bernard Arnault, though a proposed record-breaking pay package at Tesla could eventually propel him toward becoming the world’s first trillionaire.