Larry Ellison became the world’s richest person after Oracle shares surged 40%, valuing his fortune at $393bn.
Ellison owns 41% of Oracle, whose stock jumped to $340 per share, giving the company a $958bn valuation.
The rise marked Oracle’s largest single-day gain and the biggest one-day wealth increase on Bloomberg’s index.
Ellison, 81, also has Tesla shares, a sailing team, the Indian Wells Open, and a Hawaiian island.
He served on Tesla’s board from 2018 to 2022 and invested $1bn in Musk’s Twitter purchase.
Ellison and Musk share a close relationship, with Musk often visiting Ellison’s island, Lanai.
Both have ties to Donald Trump, though Musk’s relationship reportedly soured earlier this year.
Oracle’s growth is driven by demand from AI companies for its cloud services, including OpenAI.
Musk first topped Bloomberg’s richest list in 2021, lost it, regained it last year, and now cedes it to Ellison.
Larry Ellison Surpasses Elon Musk as World’s Richest
Andrew Rogers
Andrew Rogers is a freelance journalist based in the USA, with over 10 years of experience covering Politics, World Affairs, Business, Health, Technology, Finance, Lifestyle, and Culture. He earned his degree in Journalism from the University of Florida. Throughout his career, he has contributed to outlets such as The New York Times, CNN, and Reuters. Known for his clear reporting and in-depth analysis, Andrew delivers accurate and timely news that keeps readers informed on both national and international developments.
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