Oracle co-founder Larry Ellison overtook Elon Musk after Oracle shares jumped 40% in early trading.
Ellison’s 41% stake in Oracle is now valued at $393bn, slightly above Musk’s $384bn, per Bloomberg.
The rise marked Oracle’s largest single-day increase and the biggest one-day wealth gain on Bloomberg’s index.
Ellison, 81, also holds Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.
He has long been close to Musk, serving on Tesla’s board and investing $1bn in Musk’s Twitter purchase.
Both men have ties to Donald Trump, though Musk’s relationship reportedly soured earlier this year.
Oracle’s growth is fueled by AI demand, supplying cloud services to firms like OpenAI.
Musk first topped Bloomberg’s list in 2021, regained it last year, but has now ceded it to Ellison.
Larry Ellison Tops Elon Musk as World’s Richest
By OMN AI
OMN AI
This article was created with the assistance of OMN AI, the AI-powered editorial platform developed by OMN Group. Every article is reviewed, fact-checked, and approved by a human journalist before publication to ensure accuracy and editorial quality. Learn more at https://omngroup.com
Add A Comment
