Ellison Overtakes Musk as World’s Richest After Oracle Stock Soars
Lead Oracle co-founder Larry Ellison claimed the top spot on Bloomberg’s Billionaires Index Wednesday, his net worth jumping to $393 billion after Oracle shares surged 41% on strong earnings.
Nut Graf Ellison’s leap past Elon Musk underscores investor confidence in Oracle’s cloud and AI initiatives following a record one-day $101 billion gain in his fortune. The 81-year-old chairman and CTO holds the majority of his wealth in Oracle stock.
Market Reaction
- Oracle shares rallied 41% Wednesday, marking the largest one-day climb since 1999.
- The stock surge followed a fiscal Q1 forecast projecting continued cloud and AI growth.
Wealth Rankings Shift
- Ellison now leads with $393 billion, ahead of Musk’s $385 billion.
- Musk still ties much of his wealth to Tesla and SpaceX performance.
Ellison’s Role in Oracle’s Rise
- Co-founded Oracle in 1977; serves as executive chairman and CTO.
- Drove expansion into cloud infrastructure and AI partnerships with Nvidia and OpenAI.
Outlook and Implications
- Analysts expect Oracle’s cloud momentum to persist amid rising AI demand.
- Ellison’s record gain highlights growing influence of tech giants on global wealth distribution.
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