SAN FRANCISCO (Diya TV) — Elon Musk has lost his spot as the world’s richest person, at least for now. Oracle co-founder Larry Ellison briefly overtook Musk after a historic surge in Oracle’s stock price on Sept. 10. Ellison’s wealth soared after Oracle reported earnings that beat Wall Street expectations. The 81-year-old tech billionaire saw his net worth rise by $101 billion in a single day, reaching $393 billion, according to the Bloomberg Billionaires Index. That marked the largest one-day wealth gain ever recorded.
The jump pushed Ellison ahead of Tesla CEO Elon Musk, whose net worth fell to $385 billion. Oracle shares hit a record high of $345 on Sept. 10, climbing more than 40% in one day. The company’s stock is now up about 100% for the year, doubling from $166 in January. This is the first time Ellison has held the title of the world’s richest person, Bloomberg reported. Much of his fortune remains tied to Oracle, the database software company he co-founded in 1977.
Oracle’s strong earnings came from booming demand for cloud services and artificial intelligence infrastructure. The company signed four multibillion-dollar contracts last quarter and expects more deals ahead. CEO Safra Catz said revenue from Oracle’s cloud business is projected to grow 77% this year, reaching $18 billion.
AI companies are fueling much of that demand, helping Oracle gain ground against competitors like Amazon Web Services and Microsoft Azure. The company’s rapid growth has transformed Ellison’s fortune and lifted him to the top of global wealth rankings.
While Ellison’s wealth soared, Musk faced challenges. Tesla shares are down about 7% this year. Investors remain cautious amid policy changes under the Trump administration, which scaled back electric vehicle incentives. Musk has also faced consumer backlash tied to his political views.
Despite Tesla’s decline, Musk may not stay behind for long. The company’s board has proposed a pay package that could make him the world’s first trillionaire. The deal would only activate if Musk meets a series of ambitious growth targets in the coming years. Musk has already held the title of the world’s richest person multiple times. He first claimed it in 2021, losing it later to Amazon founder Jeff Bezos and then to Bernard Arnault, chairman of luxury goods giant LVMH.
The race among billionaires remains tight. According to Forbes, the 400 richest Americans are worth a combined $6.6 trillion, a number that continues to climb. Earlier this year, Musk’s fortune peaked at more than $400 billion, making him the only person in history to cross that milestone.
On Sept. 10, Forbes listed Musk at $440.5 billion, still ahead of Ellison’s $391.1 billion. However, Bloomberg’s real-time index briefly showed Ellison on top after Oracle’s record-breaking rally. By the end of the trading day, Oracle stock had lost some gains, returning Musk to the No. 1 spot.
Ellison has long been a prominent figure in Silicon Valley, known for his bold business moves and lavish lifestyle. He served as Oracle’s CEO until 2014 and now acts as chairman and chief technology officer. He has also positioned himself as a close ally of President Donald Trump. Earlier this year, Ellison appeared with OpenAI’s Sam Altman and SoftBank’s Masayoshi Son to announce Stargate, a massive AI infrastructure project in the United States.
Oracle has also emerged as a potential buyer of TikTok, which faces a possible U.S. ban unless it cuts ties with its Chinese parent company, ByteDance. Trump has openly suggested that Ellison would be a strong buyer for the social media platform.
Beyond tech, Ellison has backed media ventures. He helped finance his son David Ellison’s $8 billion bid for Paramount, the parent company of CBS and MTV. That deal closed last month, further cementing the family’s role in entertainment.
Ellison’s brief rise to the top highlights how quickly fortunes can shift in the world of billionaires. Stock swings, corporate deals, and new ventures continue to reshape global wealth rankings. For now, Musk has reclaimed the crown, but Ellison’s surge shows he may not be far behind. With Oracle’s cloud and AI business booming, the billionaire race is likely to remain close in the months ahead.
