Is Larry Ellison still the richest person in the world? Details explored as Oracle co-founder tops Elon Musk

Larry Ellison briefly became the richest person in the world after Oracle shares jumped following strong quarterly results. His fortune rose by a record $89 billion in one day, lifting his net worth to $383.2 billion. This allowed him to surpass Elon Musk for a short period.

The Bloomberg Billionaires Index shows that Ellison held the top spot for much of the day. However, Musk later regained his lead by about $1 billion. Musk has been in the number one position for more than 300 days, but the gap between him and Ellison has narrowed.

The surge in Ellison’s net worth highlights the growing value of Oracle. It also shows how stock performance can quickly change the rankings of the world’s richest people.

Larry Ellison’s rise

Larry Ellison co-founded Oracle and is now its chairman and chief technology officer. Most of his wealth comes from his stake in the company. Oracle’s stock has climbed more than 45% this year. On Wednesday, it surged another 36% after the company gave a strong outlook for its cloud business.

This rise in stock price created the biggest one-day increase in Larry Ellison’s fortune ever recorded. His net worth rose to $383.2 billion, placing him ahead of Elon Musk for much of the day. Oracle’s success also benefited other leaders, such as CEO Safra Catz, whose wealth grew by $97 million.

Larry Ellison’s growth in wealth is closely tied to Oracle’s shift into cloud infrastructure. Deals with companies like OpenAI and Nvidia have boosted demand. This turnaround has helped Oracle become a bigger player in the competitive cloud market.

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Elon Musk’s position at risk?

Elon Musk is known for leading Tesla, SpaceX, and other ventures. His wealth is tied to Tesla stock, which has fallen 14% this year. This decline has reduced the gap between him and Ellison. Musk first became the world’s richest person in 2021, lost the spot to Jeff Bezos and Bernard Arnault, and then reclaimed it last year.

For now, Musk remains number one with a slim lead over Ellison. According to the Bloomberg Billionaires Index, Musk ended the day about $1 billion ahead. But the movement in Tesla shares and Ellison’s Oracle stake means the top spot may continue to change hands.

Musk also has a proposed pay package from Tesla that could make him the world’s first trillionaire if ambitious targets are met. Until then, Ellison is the closest challenger to his crown. The two billionaires are likely to keep trading places as stock markets shift.

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Both Ellison and Musk have fortunes that depend heavily on their companies’ stock performance. As Oracle grows in cloud services and Tesla faces challenges, the gap between the two is much smaller than before.

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