Oracle co-founder Larry Ellison overtakes Elon Musk to become world’s richest person

New Delhi: Oracle co-founder Larry Ellison has climbed to the top of the global wealth rankings, surpassing Tesla chief Elon Musk, following a dramatic boost in his fortune. According to Forbes’ real-time billionaire index, Ellison’s net worth soared by USD 101 billion on Wednesday, taking his total wealth to USD 395.7 billion. The jump came after Oracle shares surged as much as 41 per cent in New York trading—the biggest single-day rise since 1992—driven by a bullish forecast for its cloud business and growing demand for artificial intelligence computing. Oracle’s market capitalization has now reached USD 947 billion.

The surge ended Musk’s nearly 300-day dominance as the world’s richest person. Musk first claimed the title in 2021 and had regained it last year after brief setbacks to Amazon founder Jeff Bezos and LVMH’s Bernard Arnault. However, a 14 per cent drop in Tesla’s share price this year has eroded the value of his holdings. The decline comes even as Tesla’s board recently put forward a USD 1 trillion compensation plan for Musk, tied to ambitious production targets such as 20 million vehicles annually and one million AI-driven humanoid robots within the next decade.

Ellison, who co-founded Oracle in 1977 and continues as chairman and chief technology officer, has seen his wealth closely track the company’s rise. Oracle’s stock had already climbed 45 per cent in 2025 before the latest surge. For its second quarter, the firm projected overall revenue growth of 12–14 per cent and cloud revenue growth of 32–36 per cent, underscoring its expanding strength in AI-driven services.

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Over the years, Ellison transformed Oracle from a small startup into the world’s leading database software company and the second-largest business applications provider. In 2019, he disclosed a USD 1 billion investment in Tesla and had earlier joined its board to provide regulatory oversight, highlighting his personal and financial ties with Musk. Ellison had already surpassed Bezos and Meta CEO Mark Zuckerberg in June to secure the No. 2 spot on the billionaire list. With this latest rally, he now firmly holds the top position, underlining Oracle’s growing role in the cloud computing and AI race.