Oracle co-founder Larry Ellison overtook Elon Musk as the world’s richest person after a record surge in Oracle shares.
The company’s stock jumped over 40% to $340, boosting its value to $958bn and Ellison’s fortune to $393bn.
Musk’s wealth stands at $384bn, placing him just behind Ellison, according to Bloomberg’s billionaires index.
The rise marks Oracle’s largest one-day share increase and the biggest single-day wealth gain on the index.
Ellison, 81, holds a 41% stake in Oracle and other assets, including Tesla shares, a sailing team, and a Hawaiian island.
He has long ties with Musk, having sat on Tesla’s board and investing $1bn in Musk’s Twitter purchase.
Ellison supports Donald Trump and backs US artificial intelligence infrastructure projects.
Oracle’s value has grown rapidly thanks to rising demand from AI firms for its cloud services.
Musk, who regained the top spot last year, now falls behind Ellison less than a year later.
Larry Ellison Becomes World’s Richest, Surpassing Elon Musk
By OMN AI
OMN AI
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