Larry Ellison Surpasses Elon Musk as Worlds Richest Man After Oracle Share Surge

Larry Ellison, co-founder and executive chairman of Oracle, has overtaken Elon Musk to become the world’s richest man following a dramatic ascent in Oracle’s share price. The exceptional surge saw Ellison’s wealth jump by $120 billion in a single day, pushing his net worth beyond $400 billion, according to the latest figures from the Bloomberg Billionaires Index.

At 81, Ellison holds a 41 percent stake in Oracle, the IT powerhouse he established in 1977. Shares in Oracle soared by 44 percent after reporting unparalleled growth fuelled by surging demand from the artificial intelligence sector. The company’s “remaining performance obligations”—a measure of future contracted sales—reached $455 billion, nearly tripling within three months.

Oracle, historically renowned for its database management systems, has reinvented itself as a formidable player in cloud computing. Large-scale deals with significant AI clients—including OpenAI, xAI, Meta, Nvidia and AMD—have propelled Oracle to the forefront of the tech industry’s latest boom.

Ellison’s sudden wealth increase is the largest single-day rise ever recorded. With this leap, he eclipses Elon Musk, whose fortune largely stems from stakes in Tesla and SpaceX. Tesla shares have declined amid falling sales and mounting competition, eroding Musk’s net worth to $384 billion. Meanwhile, Oracle’s £5 billion investment plans for Britain and a $500 billion “Stargate” project with OpenAI and SoftBank underscore the company’s ambitious global strategy.

Well-known for a property portfolio worth billions—including ownership of Hawaii’s sixth-largest island—Ellison also supports philanthropic and political causes. He is a significant donor to Sir Tony Blair’s Institute for Global Change and a close ally of Donald Trump, frequently appearing at high-profile political events and fundraisers.

Oracle’s involvement in a consortium bidding to acquire the United States operations of TikTok further highlights its expanding influence in global digital markets. The ongoing AI-driven transformation of the tech sector places Ellison and Oracle at the centre of a new era of growth and competition among the world’s technology giants.