Photocredit:Google
Oracle co-founder Larry Ellison has overtaken Elon Musk to claim the title of the world’s richest person, ending Musk’s nearly year-long run at the top of the Bloomberg Billionaires Index.
According to Bloomberg, Ellison’s wealth soared by an unprecedented $101 billion on Wednesday after Oracle released stronger-than-expected quarterly earnings and projected continued growth in its cloud division.
This surge boosted his net worth to $393 billion, surpassing Musk, who now holds $385 billion. At 81, Ellison has achieved the largest single-day wealth increase ever recorded on Bloomberg’s index, with most of his fortune tied to Oracle shares, where he serves as chairman and chief technology officer.
Musk, who first became the world’s richest person in 2021, regained the position last year and held it for just over 300 days, after previously being overtaken by Amazon’s Jeff Bezos and LVMH’s Bernard Arnault.
Tesla’s stock has dropped 13% so far this year. However, the company’s board has put forward a massive pay package for Musk that, if achieved, could make him the first trillionaire in history.
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