Larry Ellison has officially dethroned Elon Musk as the world’s richest man, claiming the top spot for the first time in his career.
The Oracle co-founder saw his fortune soar overnight after the company’s stock skyrocketed by 40% on Wednesday morning, following a blockbuster earnings report the previous evening. The surge boosted Ellison’s net worth from $292 billion to an astonishing $393 billion—an increase of $101 billion in just one day.
This leap pushed him ahead of Elon Musk, whose wealth currently stands at $385 billion. As Oracle’s largest shareholder with a 41% stake, Ellison is reaping the rewards of the company’s booming cloud business, which is being fueled by high demand from major players such as OpenAI, Nvidia, and xAI.
Oracle disclosed a $455 billion backlog in AI-related services and projected that its cloud revenue will skyrocket from $18 billion in 2025 to an estimated $144 billion by 2030.
Meanwhile, Musk—who held the No. 1 spot for nearly a year—has seen Tesla’s stock dip by 14% amid slowing sales and political controversies, eroding a chunk of his fortune.
According to Bloomberg’s billionaire rankings, the standings are as follows:
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Larry Ellison – $393 billion
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Elon Musk – $385 billion
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Mark Zuckerberg – $269 billion
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Jeff Bezos – $258 billion
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Larry Page – $210 billion