Musk Returns as World’s Richest, Surpassing Ellison

Elon Musk has regained his position as the world’s richest person, surpassing Oracle co-founder Larry Ellison, whose brief lead was driven by a spike in Oracle’s stock due to increased interest in its AI infrastructure offerings.

Following Oracle’s latest earnings report, Larry Ellison’s wealth increased by $89 billion to $383.2 billion, with an intraday high of $101 billion, setting a new record on the Bloomberg Billionaires Index.

Oracle‘s stock surged by as much as 43%, closing up 36% on Wednesday. This marks its biggest one-day increase since 1992, driven by strong quarterly earnings and optimistic outlooks related to rising AI demand.

Oracle’s valuation increased by approximately $244 billion, reaching nearly $922 billion. This growth moved it from 13th to 10th place in the S&P 500, surpassing major companies like Eli Lilly, Walmart, and JPMorgan Chase.

Oracle’s top shareholder Ellison momentarily surpassed Musk in wealth, but Musk ended Wednesday $1 billion ahead, regaining the position of the world’s richest with $384.2 billion.

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Musk has mostly maintained the title of the world’s richest person since 2021, with brief periods when Bernard Arnault of LVMH in 2021 and Jeff Bezos in 2024 temporarily held the position, before Musk reclaimed it last year for over 300 days.