Larry Ellison overtook Elon Musk after Oracle shares jumped 40%, valuing his fortune at $393bn.
Ellison owns 41% of Oracle, whose shares rose to $340, giving the company a $958bn valuation.
The increase marked Oracle’s largest single-day gain and the biggest one-day wealth rise on Bloomberg’s index.
Ellison, 81, also holds Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.
He has a long-standing relationship with Musk, serving on Tesla’s board and investing $1bn in Twitter.
Ellison supports Donald Trump and appeared at the Stargate AI project launch, while Musk’s Trump ties recently soured.
Oracle’s growth benefits from AI cloud service demand, including computing for OpenAI and ChatGPT.
Musk, first ranked richest in 2021, regained the spot last year but now cedes it to Ellison.
Larry Ellison Surpasses Elon Musk as World’s Richest
By OMN AI
OMN AI
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