Oracle co-founder Larry Ellison has unseated Tesla boss Elon Musk to become the world’s richest man, ending Musk’s nearly year-long hold on the top spot of the Bloomberg Billionaires Index.
According to Bloomberg, Ellison’s fortune soared by an unprecedented $101 billion in a single day on Wednesday, following Oracle’s quarterly results that exceeded Wall Street expectations and signalled sustained growth in the company’s cloud business.
The jump boosted Ellison’s net worth to $393 billion, surpassing Musk, whose wealth now stands at $385 billion. The 81-year-old, who serves as Oracle’s chairman and chief technology officer, holds most of his fortune in the company’s stock.
The gain marks the biggest one-day increase ever recorded on Bloomberg’s Billionaires Index.
Musk, who first claimed the title of world’s richest person in 2021, had reclaimed it last year and held it for just over 300 days. Before now, he had also traded places with Amazon’s Jeff Bezos and LVMH boss Bernard Arnault.
So far in 2025, Tesla’s shares have fallen by 13 per cent, dragging down Musk’s wealth. However, the company’s board has proposed a record-breaking pay package for the billionaire. If approved and achieved, analysts say it could make Musk the world’s first trillionaire.
