Larry Ellison surpasses Elon Musk as world’s richest person

Oracle cofounder Larry Ellison has become the world’s richest person. His net worth jumped to $393 billion. This surpasses Elon Musk’s $385 billion,

Oracle cofounder Larry Ellison has become the world’s richest person. His net worth jumped to $393 billion. This surpasses Elon Musk’s $385 billion, according to Bloomberg. The rise came after Oracle released a strong earnings report.

The company reported massive demand for its data center services. AI companies are relying on Oracle’s infrastructure to power their operations. Oracle signed four multibillion-dollar contracts in the last quarter. CEO Safra Catz said more deals are expected in the coming months.

Oracle’s stock surged 40% in early trading on Wednesday. This increase is rare for a company with a market value just under $700 billion. Bloomberg called it the “biggest one-day wealth increase ever recorded.”

Oracle has become a key player in the AI boom. In July, it signed a deal to provide 4.5 gigawatts of electricity to OpenAI, the company behind ChatGPT. This shows the company’s growing role in powering AI technology.

Larry Ellison owns the largest share of Oracle. If the stock continues to rise, he could firmly hold the title of world’s richest person.

Elon Musk first became the world’s richest person in 2021. His wealth comes from Tesla and SpaceX. He has briefly lost the title in the past to Bernard Arnault in 2021 and Jeff Bezos in 2024. Despite challenges, Musk remains very wealthy. He has a Tesla pay package that could reach nearly $1 trillion if the company meets certain goals.

Larry Ellison co-founded Oracle in 1977 after dropping out of college. He is now 81 years old. Ellison owns 98% of the Hawaiian island of Lana’i. He is also known for reviving the Indian Wells tennis tournament in California, which is now nicknamed the “fifth slam.”

Ellison has strong connections in business and politics. He is close to President Donald Trump and has appeared at the White House for technology events. He has also been linked to possible business ventures, including a potential TikTok deal.

Oracle’s stock has risen 103% this year, fueled by the AI boom. Other tech companies, like Nvidia and Microsoft, have also seen huge growth because of AI. Analysts say Ellison’s rise shows how technology and AI are creating enormous wealth for company founders.