Elon Musk is no longer the world’s richest person: a new leader of the billionaires’ ranking has been named

Larry Ellison, Oracle’s co-founder, briefly topped the Bloomberg Billionaires Index, unseating the owner of Tesla and SpaceX from the top spot.

For nearly a year, Elon Musk had held the title of the world’s wealthiest person. However, according to the Bloomberg Billionaires Index, his spot was briefly taken by 81-year-old Larry Ellison, the co-founder of the tech giant Oracle.

The change in leadership occurred after Oracle published its quarterly results. The company’s shares soared by over 40%, leading to a record one-day gain for Ellison’s fortune of $101 billion. This is an exceptionally rare event for a company with a market capitalization of nearly $700 billion. According to Bloomberg’s calculations, Ellison’s net worth reached $393 billion, while Musk’s stood at $384 billion.

Oracle’s dramatic growth is attributed to surging demand for its data center infrastructure from clients in the artificial intelligence sector. The company has signed four multi-billion-dollar contracts and anticipates further growth in the coming years, positioning it as a contender to reach a $1 trillion market value.

At the same time, shares of Musk’s company, Tesla Inc., have fallen by 14% this year amid investor jitters over political initiatives from the Donald Trump administration regarding electric vehicles.

However, Larry Ellison’s reign as the world’s richest person was short-lived. By the end of the day, as Oracle’s shares gave up some of their gains, Elon Musk reclaimed his leadership position.

It’s important to note that Bloomberg and Forbes rankings differ. According to Forbes, Elon Musk remains in first place with a net worth of $439.4 billion, while Larry Ellison is in second with $399.2 billion. These discrepancies are due to different methodologies used to calculate billionaire fortunes.

Larry Ellison: From Oracle to Media

At 81, Larry Ellison is not just the co-founder of Oracle but a highly influential figure in business. He has positioned himself as an ally of President Donald Trump.

His ambitions extend beyond technology:

• He co-funded Stargate, a project to build AI infrastructure in the U.S.
• Oracle was considered a potential buyer for TikTok amid a possible ban of the app in the U.S.
• Ellison also funded his son’s attempt to acquire media giant Paramount for $8 billion.

This makes Larry Ellison not just a billionaire but a key player at the intersection of technology, politics, and media.