The Digest:
Oracle co-founder Larry Ellison has dethroned Elon Musk as the world’s richest person, propelled by a historic $101 billion single-day wealth increase following Oracle’s stellar quarterly performance and cloud business optimism. The 81-year-old tech pioneer now leads with a $393 billion fortune, overshadowing Musk’s $385 billion net worth.
Key Points:
- Ellison’s wealth soared 35% in one day, the largest jump in Bloomberg Billionaires Index history
- Oracle shares surged 41% after strong cloud infrastructure bookings and growth forecasts
- Ellison holds most of his wealth in Oracle stock, where he serves as chairman and CTO
- Musk, who held the top spot for over 300 days, faces a 13% decline in Tesla shares this year
- Tesla’s proposed pay package could still make Musk the world’s first trillionaire
- Ellison previously ranked behind Musk, Bezos, and Arnault in recent years
Sources: Bloomberg Billionaires Index, Oracle Financial Reports
