Oracle co-founder Larry Ellison and Tesla CEO Elon Musk appear together in a billionaire ranking photo grid.
New York, US (EPICSTORIAN) — Larry Ellison has overtaken Elon Musk to become the world’s richest person following a historic Oracle stock surge.
World’s richest person title changes hands
Bloomberg reported that Ellison’s net worth climbed to $393 billion after Oracle’s earnings shocked Wall Street.
Musk’s fortune fell to $385 billion, placing him second in the global billionaire index.
The shift marks one of the most dramatic single-day wealth increases ever recorded, according to Bloomberg data.
Oracle’s AI success drives Larry Ellison wealth
Oracle shares jumped more than 40 percent on Wednesday after reporting soaring demand for data center capacity.
The company signed four multibillion-dollar contracts last quarter, Oracle CEO Safra Catz confirmed in a statement.
She added that more agreements are expected in the coming months as AI growth accelerates.
Oracle recently signed a deal to provide OpenAI with 4.5 gigawatts of power to support its software.
This development has positioned Oracle as a critical player in supplying infrastructure for AI computing worldwide.
Ellison’s path to billionaire dominance
Ellison co-founded Oracle in 1977 after dropping out of college and built it into a technology powerhouse.
He remains the largest individual shareholder in the company, benefiting directly from the stock surge.
Ellison also owns 98 percent of the Hawaiian island of Lana’i and has invested in global sports and technology.
The Bloomberg Billionaires Index confirmed that his rise was the biggest one-day wealth increase ever recorded.
Musk’s history at the top
Elon Musk first claimed the world’s richest person title in 2021 after overtaking Bernard Arnault of LVMH.
He briefly lost the title in 2024 to Jeff Bezos before regaining it through Tesla and SpaceX valuations.
Musk also secured a new Tesla pay package potentially worth $1 trillion once company targets are achieved.
He remains one of the most influential figures in global business despite falling to second place.
Technology boom reshaping global wealth
Oracle has now joined other tech giants in reshaping the billionaire rankings through rapid AI-driven growth.
Nvidia recently surpassed a $4 trillion valuation, cementing its role as the world’s most valuable company.
Microsoft also briefly passed the $4 trillion mark, fueled by its investments in artificial intelligence.
The top eight companies on the S&P 500 all hold major positions in AI development and infrastructure.
This unprecedented boom has shifted the concentration of wealth toward technology-focused billionaires.
Related: Tesla approves interim stock award worth $30 billion for Musk
Ellison’s rise above Musk demonstrates the impact of AI on global markets and billionaire rankings.
The Bloomberg index will update again after the market closes on Wednesday, confirming the leadership reshuffle.
