Guwahati: Oracle co-founder Larry Ellison has become the world’s richest person for the first time, overtaking Elon Musk after a historic surge in his net worth.
Ellison’s fortune increased by $101 billion in a single day following Oracle Corp.’s strong quarterly results, driving its stock to record highs. As of 10:10 am in New York, Bloomberg Billionaires Index reported Ellison’s net worth at $393 billion, surpassing Musk’s $385 billion.
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The one-day increase marks the largest single-day gain in the index’s history.
At 81, Ellison continues to serve as Oracle’s chairman and chief technology officer, with the majority of his wealth tied to the software company. Oracle’s stock, which has already risen 45% in 2025, jumped another 41% on Wednesday after the company reported a sharp increase in bookings and projected robust growth for its cloud infrastructure business.
The milestone ends Musk’s nearly year-long tenure as the world’s richest individual. Musk, CEO of Tesla and SpaceX, first claimed the title in 2021, briefly lost it to Amazon founder Jeff Bezos and LVMH’s Bernard Arnault, and regained it last year.
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Tesla shares have declined 13% in 2025, reducing Musk’s lead even as the company considers a substantial pay package that could potentially make him the first trillionaire if targets are met.