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Elon Musk reclaimes the title of world’s richest person from Larry Ellison, who briefly overtook the position after Oracle’s stock surged 43% in a day.
Elon Musk stands at No. 1 on the World’s Richest People list.
Tesla CEO Elon Musk has become the world’s richest person once again, reclaiming the top position from Oracle co-founder Larry Ellison, who briefly surged ahead on Wednesday after a historic rally in Oracle’s stock.
The reshuffle in the billionaire rankings came after Oracle’s shares skyrocketed on the back of robust quarterly results and a bullish forecast for to its AI infrastructure services.
Currently, Elon Musk is the world’s richest person with a net worth of $384 billion, slightly higher than Larry Ellison’s $383 billion wealth, according to the Bloomberg Billionaires Index.
According to a Wall Street Journal report, ChatGPT maker OpenAI has signed a contract to purchase about $300 billion worth of computing power from Oracle in the next five years. The deal is scheduled to start in 2027.
Oracle Stock Surges Historic 43% Within A Day
Bloomberg reported that Ellison’s net worth skyrocketed by $89 billion to $383.2 billion after Oracle’s results were announced on Tuesday evening. At the intraday high level on Wednesday, his wealth swelled by as much as $101 billion, the biggest single-day jump ever tracked by the Bloomberg Billionaires Index.
Oracle’s stock surged as much as 43% in intraday trading before closing the session 36% higher, the company’s largest one-day jump since 1992. This rally lifted Oracle’s market value by nearly $244 billion, pushing its market capitalisation to about $922 billion. The leap also moved Oracle into the 10th spot on the S&P 500, overtaking heavyweights such as Eli Lilly, Walmart, and JPMorgan Chase.
As the company’s largest individual shareholder, Ellison briefly overtook Musk in personal wealth. However, by the end of Wednesday’s market session, Musk was back on top with an estimated fortune of $384.2 billion – just $1 billion ahead of Ellison.
Elon Musk Remains World’s Richest Person Since 2021
Musk has held on to the No. 1 position in global wealth rankings for most of the period since first clinching it in 2021. Though he was temporarily eclipsed by LVMH’s Bernard Arnault in 2021 and Amazon founder Jeff Bezos in 2024, he regained the lead last year and has maintained it for more than 300 days straight until Wednesday’s brief reshuffle.
His fortune is largely tied to his stakes in Tesla, SpaceX, and other ventures, which have continued to weather market swings in recent years.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
September 11, 2025, 15:14 IST
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