Larry Ellison Overtakes Elon Musk as World’s Richest Person After $101B Wealth Surge

Oracle cofounder Larry Ellison has become the world’s richest person after an unprecedented $101 billion boost to his fortune, pushing his net worth to $393 billion. The jump follows Oracle’s stunning quarterly earnings and a record-breaking stock surge.

According to Bloomberg, Oracle shares soared by 41% on Wednesday the company’s biggest single-day gain since 1992 lifting Ellison’s wealth above Elon Musk’s $385 billion fortune. The surge marks the largest one-day increase ever recorded on Bloomberg’s Billionaires Index.

Oracle’s AI-Powered Boom

Oracle CEO Safra Catz revealed the company secured four multibillion-dollar contracts during the quarter and expects more in coming months.

“Oracle has become a key provider of infrastructure that powers AI companies’ enormous demands for computing power,” Catz said, stressing the firm’s growing role in AI cloud services and database software.

In July, Oracle struck a deal to supply OpenAI with 4.5 gigawatts of electricity for its AI operations. The company also boasts a $455 billion AI services backlog, described by analysts as “staggering.”

Oracle’s valuation now sits just under $700 billion, with some analysts predicting it could soon cross the $1 trillion mark.

Ellison’s Rise to the Top

At 81, Ellison is Oracle’s largest shareholder and has built his fortune since co-founding the company in 1977 after dropping out of college. Beyond tech, he owns 98% of the Hawaiian island of Lana’i and is known for his investments in sports and real estate, including reviving the Indian Wells tennis tournament in California.

Ellison is also a close ally of former U.S. President Donald Trump, having appeared at White House technology events and being linked to potential acquisitions like TikTok.

The Global Wealth Race

Ellison’s rise comes during a massive AI-driven tech boom that has reshaped global markets:

Nvidia has become the world’s most valuable company with a valuation above $4 trillion.

Microsoft briefly joined the $4 trillion club, further cementing AI as the engine of tech’s next era.

Oracle’s stock has doubled in 2025, surging 103% year-to-date.

Musk, who first claimed the world’s richest title in 2021, has lost it multiple times to Bernard Arnault in 2021 and Jeff Bezos in 2024 — but often reclaimed it. Whether Ellison’s lead holds will depend on Oracle’s ability to sustain its AI-fueled growth.

Follow BONA NAIJA for more