Musk snatches back the title of the world’s richest from Larry Ellison
Elon Musk has reclaimed his title as the world’s richest individual, following a brief period on Wednesday when Oracle co-founder Larry Ellison surpassed him. Ellison surged ahead for several hours as Oracle’s stock soared, driven by robust demand for its artificial intelligence (AI) infrastructure services. Bloomberg’s Billionaires Index reveals that Ellison’s net worth surged by $89 billion, reaching a total of $393 billion after Oracle’s impressive earnings report. At one point, his wealth surged by an astonishing $101 billion in just one day — marking the largest single-day gain ever documented on the index.
At this time, Musk’s net worth was reported to be $385 billion. Musk initially attained the status of the world’s richest individual in 2021, subsequently losing it to Amazon founder Jeff Bezos and LVMH chairman Bernard Arnault, before regaining the title last year. Elon Musk’s net worth is currently estimated at $384 billion, while Larry Ellison’s wealth is valued at $383 billion. Oracle’s shares surged by as much as 43 per cent, elevating the company’s market value to $969 billion. The most significant stock surge for Oracle since 1992 was largely propelled by multibillion-dollar orders from AI firms. The company announced that its cloud infrastructure revenue is projected to increase by 77 percent this financial year, reaching $18 billion, and is expected to hit $144 billion within four years.
Ellison, who possesses approximately 40 percent of Oracle, witnessed his wealth increase by over $100 billion in a mere span of 30 minutes of trading. “AI changes everything,” he remarked following the announcement of the ambitious growth projections. Larry Ellison, aged 81, co-founded Oracle in 1977 and held the position of CEO for 37 years before resigning in 2014. He remains the chairman and chief technology officer of the company. Ellison, a college dropout, has amassed a significant fortune largely due to Oracle’s consistent growth, which includes a number of strategic acquisitions. Ellison was an early advocate for Musk. He was a member of Tesla’s board from 2018 to 2022 and departed with approximately 45 million shares of the company. He possesses almost fifty percent of Paramount Skydance. As Ellison’s fortune surged, Musk’s primary asset, Tesla, encountered challenges.
Tesla’s stock has experienced a decline of 14 percent this year. The company faces challenges in revitalizing electric vehicle sales following a significant downturn earlier in 2025. Tesla’s sales in the EU fell by 40 per cent earlier this summer, representing the seventh consecutive month of decline. The political controversies linked to Musk’s public endorsements have adversely affected the company’s reputation and market share in both Europe and the United States.
