Elon Musk’s reign as world’s richest man ends as Ellison gains over $ 101 b

Saturday, 13 September 2025 00:29 - - {{hitsCtrl.values.hits}}

Oracle co-founder Larry Ellison has overtaken Elon Musk to become the world’s richest person, ending Musk’s nearly year-long dominance
Ellison’s net worth surged by $ 101 b in a single day after Oracle reported strong quarterly results
Oracle’s stock price soared 40% on investor confidence in its aggressive expansion into artificial intelligence and cloud computing

Oracle co-founder Larry Ellison has overtaken Elon Musk to become the world’s richest person.

Ellison has ended Musk’s nearly year-long dominance at the top of the Bloomberg Billionaires Index.

Ellison’s fortune surged by an astonishing $101 billion in a single day after Oracle Corp. announced quarterly results that exceeded Wall Street expectations and delivered an optimistic long-term revenue forecast.

The jump represents the sharpest one-day wealth gain ever recorded by the index.

Oracle CEO Safra Catz described the just-ended quarter as “astonishing,” noting the company had secured four multi-billion-dollar contracts with three different customers.

He projected that its cloud business revenues would grow 77% this fiscal year to $ 18 billion and further rise to $ 32 billion, $ 73 billion, $ 114 billion, and $ 144 billion in subsequent years.

This sparked a rally in its stock prices.

As of 10 September, Ellison’s net worth now stands at $ 393 billion, eclipsing Musk’s $ 385 billion.

The surge came after Oracle’s stock price soared 40% on investor confidence in the company’s aggressive push into artificial intelligence (AI) and cloud computing.

Ellison, 81, owns 41% of Oracle, a company he co-founded in 1977 after being inspired by an IBM research paper on relational databases.

Under his leadership, Oracle transformed from a small startup into a global technology powerhouse, pioneering enterprise data management systems and expanding into cloud infrastructure and AI.

Unlike Musk, whose empire spans electric cars, rockets, and neurotechnology, Ellison built his fortune on the less flashy but highly profitable database and enterprise software industry.

Today, Oracle’s portfolio includes the Oracle Autonomous Database, MySQL, Java, and a wide array of cloud-based services used by companies worldwide.

Beyond business, Ellison is known for his colourful lifestyle. He has been married five times, is a licensed pilot with military jets in his collection, owns vast real estate holdings, and has a passion for yachting.