Oracle cofounder Larry Ellison has unseated Elon Musk as the world’s richest individual after an extraordinary rally in Oracle’s stock, fuelled by skyrocketing demand for artificial intelligence (AI) infrastructure.
According to the Bloomberg Billionaires Index, Ellison’s fortune ballooned by $101 billion in just one day, the largest single-day wealth gain ever recorded by the index, bringing his net worth to $393 billion. Musk now trails at $385 billion.
The dramatic shift followed Oracle’s quarterly earnings report, which revealed four multibillion-dollar AI contracts and a swelling $455 billion backlog in AI-related services. Oracle shares surged 41 percent on Wednesday, marking their sharpest single-day rise since 1992.
“This is staggering,” said Ben Reitzes, analyst at Melius Research, adding that Oracle’s earnings would be remembered “for a long time.”
Musk’s Reign as the World’s Richest
Elon Musk first clinched the top spot in 2021, largely propelled by Tesla’s dominance in electric vehicles and SpaceX’s leadership in private space exploration. His reign has been punctuated by setbacks, losing the title briefly to LVMH luxury titan Bernard Arnault in 2021 and Amazon founder Jeff Bezos in 2024.
However, Musk often reclaimed the crown as investor enthusiasm returned to his ventures.
Musk’s fortune has been buoyed by Tesla’s market capitalization, which peaked above $1 trillion in 2021 before stabilizing around $750 billion earlier this year. SpaceX, with a private valuation exceeding $180 billion, has also become a cornerstone of his wealth.
In 2024, Tesla shareholders approved a controversial pay package for Musk that could deliver up to $1 trillion if Tesla meets ambitious milestones, underscoring the scale of wealth creation tied to his companies.
What Elon Musk Does
Musk is synonymous with high-stakes innovation. His ventures range from Tesla, which has sold more than 4 million electric vehicles worldwide, to SpaceX, which dominates commercial launches and operates the Starlink satellite internet service in over 75 countries.
He also owns X (formerly Twitter), Neuralink, which develops brain-computer interfaces, and The Boring Company, focused on tunnel-based transport.
Despite his global influence, Musk’s leadership style has drawn criticism, from controversial remarks on X to clashes with regulators over Tesla’s safety standards and his role in shaping AI policy.
Yet his companies continue to command enormous influence across industries, from automotive and aerospace to social media and digital infrastructure.
Who Is Larry Ellison?
Larry Ellison, 81, co-founded Oracle in 1977 after dropping out of college, and has since built it into one of the world’s largest software and cloud services companies. He has been Oracle’s guiding force for nearly five decades, holding the role of CEO until 2014 before becoming chairman and chief technology officer.
Ellison is known for his lavish lifestyle as much as his business acumen. He owns 98 percent of the Hawaiian island of Lana’i, valued at around $500 million, and has spent hundreds of millions revitalizing the Indian Wells tennis tournament in California, now nicknamed the sport’s “fifth slam.”
His vast wealth reflects decades of persistence in shaping Oracle into a dominant player in enterprise technology.
What Ellison Does
Oracle has undergone a dramatic reinvention in recent years, pivoting from traditional database software toward cloud infrastructure and AI services.
The company recently signed deals worth billions with AI firms, including a landmark agreement with OpenAI to supply 4.5 gigawatts of electricity, enough to power millions of homes, to run its AI systems.
This pivot has sent Oracle’s valuation soaring. Its market capitalization, once hovering below $700 billion, is now nearing $1 trillion, positioning it alongside tech titans such as Microsoft, Apple, and Nvidia. Shares have climbed 103 percent since the start of 2025, reflecting investor confidence in its central role in the AI revolution.
Ellison’s Connection with the White House
Ellison’s business influence has long extended into U.S. politics. During Donald Trump’s presidency, Ellison was a regular presence at the White House for technology roundtables.
Oracle secured multiple government contracts during that period, and Ellison has been linked to efforts to acquire TikTok, the Chinese-owned app at the heart of geopolitical tensions between Washington and Beijing.
His political connections highlight Oracle’s strategic positioning as a U.S.-based provider of critical digital infrastructure, a role that has only grown as AI technologies become more integral to national security and economic competitiveness.
The AI Boom and Market Ripple Effects
The surge in Oracle’s stock reflects a broader tech bull run driven by AI. Nvidia, valued at more than $4 trillion, remains the world’s most valuable company, while Microsoft briefly joined the same valuation threshold earlier this year.
The eight most valuable companies in the S&P 500 are all tech giants with major stakes in AI, accounting for more than $14 trillion in combined market capitalization.
Reitzes of Melius Research said Oracle’s trajectory shows that companies like Microsoft and Oracle “are no longer software companies, they are AI cloud infrastructure stocks that happen to sell software too.”
This shift underscores how the AI boom is reshaping global technology and wealth hierarchies.
What It Means: A Historic Shift in Wealth
Ellison’s ascent marks a historic moment in global wealth rankings. Bloomberg called it the biggest single-day wealth increase ever recorded, underscoring the scale of AI’s economic impact.
While Musk could reclaim the title if Tesla’s valuation rebounds or SpaceX’s valuation climbs further, Ellison’s new status highlights the shifting balance of power in technology.
From a college dropout in the 1970s to the world’s richest man in 2025, Ellison’s journey reflects both the volatility of global markets and the transformative force of artificial intelligence in shaping fortunes.
