Elon Musk Briefly Loses “World’s Richest Person” Title to Oracle Cofounder Larry Ellison
The race for the title of world’s richest person took an unexpected turn this week when Oracle cofounder Larry Ellison briefly surpassed Tesla CEO Elon Musk in net worth. Fueled by a historic surge in Oracle’s stock price, Ellison’s fortune skyrocketed before Musk reclaimed the top spot by the end of trading Wednesday.
Oracle’s Stunning Earnings Report Sends Stock Soaring
On Tuesday evening, Oracle (ORCL) reported quarterly earnings that exceeded Wall Street’s expectations, driven largely by the company’s expanding role in artificial intelligence. CEO Safra Catz revealed that Oracle had signed four multibillion-dollar contracts during the quarter, with more expected soon.
The company’s cloud services, particularly its ability to provide massive data center capacity for AI companies, have positioned Oracle as a key player in powering next-generation computing. In July, Oracle announced a deal with OpenAI, the maker of ChatGPT, to supply 4.5 gigawatts of electricity to run its AI operations.
Following the announcement, Oracle stock surged as much as 43% before closing up about 36%, marking its largest single-day gain since 1992. The company’s market value swelled by roughly $244 billion, jumping from the 13th to the 10th most valuable firm in the S&P 500.
Larry Ellison’s Wealth Jumps to Record High
Ellison, Oracle’s largest individual shareholder, saw his fortune soar by nearly $101 billion in a single day before settling at an $89 billion increase, according to Bloomberg. That leap, bringing his net worth to $383.2 billion, is considered the largest one-day wealth gain ever recorded.
For a few hours Wednesday, Ellison officially became the world’s richest person, overtaking Elon Musk. However, by the market’s close, Musk regained the crown with a net worth of $384.2 billion, edging out Ellison by about $1 billion.
AI Boom Reshaping Global Wealth Rankings
The surge in Oracle’s value highlights how the AI revolution is reshaping the global economy. Oracle’s emergence as a cloud infrastructure powerhouse mirrors the explosive growth of other tech leaders like Nvidia, Microsoft, and Amazon, all of which are heavily invested in artificial intelligence.
Industry analysts note that traditional software giants are increasingly being redefined by their AI capabilities. As Melius Research analyst Ben Reitzes put it: “Microsoft and Oracle really aren’t software companies anymore—they are AI cloud infrastructure stocks that happen to sell software too.”
Oracle’s backlog of AI-related demand now exceeds $455 billion, a figure described by analysts as “staggering” and indicative of the long-term growth potential in the sector.
Musk’s Net Worth Under Pressure
While Oracle has soared, Tesla’s stock (TSLA) has faced a difficult year, falling roughly 14% in 2025. That decline has trimmed Musk’s overall net worth, even as his stakes in SpaceX and other ventures continue to bolster his fortune.
Musk first captured the title of world’s richest person in 2021 and has held it for much of the last four years. However, he has briefly lost it before—once in 2021 to LVMH CEO Bernard Arnault, again in 2024 to Amazon founder Jeff Bezos, and now to Larry Ellison.
Despite these fluctuations, Musk remains financially resilient. His new compensation package at Tesla could eventually be worth close to $1 trillion, depending on performance milestones.
Larry Ellison’s Journey to Wealth
Larry Ellison’s rise to billionaire status is a testament to his vision and risk-taking. He co-founded Oracle in 1977 after dropping out of college, building it into one of the world’s most important software and cloud infrastructure companies.
Today, the 81-year-old owns 98% of the Hawaiian island of Lana’i, has invested heavily in sports such as reviving the Indian Wells tennis tournament (dubbed the “fifth slam”), and remains a major political and business influencer. His close ties to former President Donald Trump and Oracle’s government contracts have often kept him in the spotlight.
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Conclusion: A Battle for Tech Supremacy and Wealth
The brief wealth shift between Musk and Ellison illustrates how volatile the global rich list has become in the era of AI-driven growth. Oracle’s massive gains show the transformative power of cloud infrastructure and artificial intelligence, while Musk’s fortune continues to hinge on Tesla’s performance and the future of space exploration.
As the AI boom accelerates, investors and analysts alike expect more reshuffling at the top of the world’s wealth rankings. For now, Musk remains the world’s richest person—but Ellison’s extraordinary rise proves he is closer than ever to the top.
FAQs
Who is currently the world’s richest person?
As of Wednesday’s market close, Elon Musk regained the title of world’s richest person with a net worth of about $384.2 billion.
How much did Larry Ellison’s net worth increase?
Ellison’s wealth surged by about $89 billion in one day, the biggest single-day gain ever recorded, reaching $383.2 billion.
Why did Oracle’s stock surge so dramatically?
Oracle reported strong earnings fueled by surging demand for AI data center capacity, along with several multibillion-dollar contracts for cloud infrastructure.
How does AI factor into Oracle’s success?
Oracle has positioned itself as a major provider of cloud infrastructure powering AI applications. Its deal with OpenAI highlights its importance in meeting massive energy and computing demands.
How has Tesla performed this year compared to Oracle?
Tesla shares are down roughly 14% in 2025, while Oracle’s stock has nearly doubled, rising 97% year-to-date.
Has Musk lost the “world’s richest” title before?
Yes, Musk has briefly lost the top spot three times: once in 2021 to Bernard Arnault, in 2024 to Jeff Bezos, and in 2025 (briefly) to Larry Ellison.
