Larry Ellison Surpasses Musk to Become World’s Richest Person

For the first time in his career, technology tycoon Larry Ellison has climbed to the very top of the global wealth rankings, overtaking Elon Musk to become the world’s richest person. The news broke after Oracle, the company Ellison co-founded, reported record-shattering quarterly results that sparked a surge in its share price.

Larry Ellison wealth rose by an astonishing $101 billion in a single day, pushing his fortune to $393 billion. That leap placed him ahead of Musk, whose net worth currently stands at $385 billion. According to the Bloomberg Billionaires Index, this is the biggest one-day increase ever recorded.

Ellison, now 81, built his empire on Oracle, the database software giant he co-founded decades ago. Today, he serves as chairman and chief technology officer. The bulk of Larry Ellison wealth remains tied up in Oracle shares, which have risen steadily throughout the year and spiked 41 percent on Wednesday alone. Analysts link this jump to Oracle’s growing role in cloud computing, especially its recent partnerships with OpenAI and Nvidia.

Students who follow business news may find it fascinating that this rise did not come overnight. Musk first claimed the title of richest person in 2021 before losing it to Jeff Bezos of Amazon and later to Bernard Arnault of luxury group LVMH. Musk eventually regained the crown last year, holding it for about 300 days before Ellison’s fortune outpaced his.

While Oracle has enjoyed tremendous success, Tesla, Musk’s electric car company, has seen its shares fall 13 percent this year. Still, Musk remains a formidable competitor. Tesla’s board has even proposed a massive pay package that could eventually push him to become the world’s first trillionaire. But for now, the spotlight is firmly on Larry Ellison wealth.

Observers note that Larry Ellison wealth is not only a number on a financial index but also a symbol of how rapidly the tech industry is reshaping global fortunes. The Oracle boss, who once lagged behind other billionaires, now stands at the summit of global business power.

Thank you for reading. For more breaking news, keep checking Enengo news.