Oracle co-founder Larry Ellison briefly became the world’s richest person on Wednesday after a record jump in his net worth, driven by soaring Oracle Corp. shares.
According to the Bloomberg Billionaires Index, Ellison’s wealth climbed to $393 billion (£290bn) in morning trading, surpassing Elon Musk’s $385 billion (£284bn). His fortune swelled by an unprecedented $89 billion in a single day after Oracle’s quarterly results beat market expectations and signaled even stronger growth ahead.
Although Musk later regained the top spot by a slim $1 billion margin, Ellison’s rise marks the first time he has topped the global rich list in his five-decade career. Bloomberg described it as the largest one-day increase in personal wealth ever recorded.
Oracle shares surged more than 40 percent after the company issued an upbeat forecast for its cloud infrastructure and artificial intelligence (AI) services. Chief executive Safra Catz revealed that Oracle recently secured four multibillion-dollar contracts with AI customers, with more deals expected in the coming months.
Ellison, 80, has long tied his fortune to Oracle’s performance, positioning the software giant as a growing rival in the AI-driven data center market.
Musk, meanwhile, has seen his wealth pressured by a slump in Tesla stock, as investors weigh U.S. President Donald Trump’s rollback of electric vehicle incentives and consumer backlash to the billionaire’s political activities.
Still, his fortune could rebound if Tesla’s board approves a proposed compensation package worth over $1 trillion (£740bn), linked to ambitious growth milestones.
