Larry Ellison, Oracle co-founder and its largest shareholder, has every reason to celebrate — he has surpassed Elon Musk, CEO of Tesla and SpaceX, and has topped the list of the world’s richest people for the first time.
Ellison’s net worth skyrocketed by $101 billion following a sharp rise in Oracle’s stock price, which surged after the company released its financial results. As a result, Ellison’s wealth reached $393 billion, while Musk’s stood at $385 billion.
According to Bloomberg, this jump represents the largest one-day gain ever recorded in the history of the Bloomberg Billionaires Index. Remarkably, Oracle stock makes up the lion’s share of Ellison’s fortune. He currently serves as Oracle’s Chairman of the Board and Chief Technology Officer.
On September 9, Oracle shares soared by 45%. On September 10, they jumped by another 41%, the largest single-day leap in the company’s history. The rally came after Oracle reported a significant increase in order volume and issued an ambitious outlook for its cloud infrastructure business.
Meanwhile, things have not gone so well for Tesla Inc. this year. Its shares have fallen by 13%, causing Elon Musk to lose his top spot on the global wealth ranking to Larry Ellison.
To recap, Elon Musk first became the world’s richest person in 2021, later lost the title to Jeff Bezos and Bernard Arnault, briefly regained it in 2024, and has held it for just over 300 days until now.
