Larry Ellison Dethrones Elon Musk As World’s Richest on Oracle Stock Spike

Oracle CEO Larry Ellison has claimed the title of world’s richest person for the first time ever, dethroning Tesla chief Elon Musk.

Ellison’s net worth was up $101 billion on Wednesday, bringing him to $393 billion and putting him ahead of Musk, who is currently valued at $385 billion, data from the Bloomberg Billionaires Index showed.

The net-worth spike was driven by a huge move in Oracle stock, which rose as much as 41% on Wednesday at intraday highs. It marked the company’s biggest-ever single-day jump.

Ellison’s wealth boost also marks the largest single-day net worth increase in the Bloomberg Billionaires’ Index, the outlet reported on Wednesday.

Musk, who first became the world’s richest man in 2021, has occasionally given up the title after wealth surges among other business titans, like Amazon founder Jeff Bezos and LVMH CEO Bernard Arnault. Musk reclaimed the title last year amid a sharp rally in Tesla stock following the presidential election, and held it for over 300 days before Ellison took the crown.

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Oracle CEO Safra Catz said during an analyst call on Tuesday that the company signed four multi-billion-dollar contracts with three different customers during the fiscal first quarter. That brought a measure of bookings to $455 billion, quadruple where it was a year before.

Catz added that the company expects Oracle Cloud Infrastructure to see revenue increase 77% to $18 billion from the previous year, and issued an aggressive forecast for the figure to hit $144 billion by 2030.

The bullish outlook has launched Oracle firmly into the elite group of cloud-computing titans battling it out in the race for AI supremacy, a list that also includes Amazon, Microsoft, and Google.

Tesla, by comparison, has had a rough 2025 amid Musk’s fallout with President Donald Trump and flagging car sales. Shares of the EV maker are down 12% year-to-date.