Musk regains world's richest title after briefly losing it to Larry Ellison

Elon Musk first became the world's richest person in 2021, briefly lost the spot to Amazon founder Jeff Bezos and LVMH chairman Bernard Arnault, then reclaimed the title last year

Elon Musk has regained his position as the world’s richest person after Oracle co-founder Larry Ellison briefly overtook him on Wednesday. Ellison surged ahead for a few hours as Oracle’s stock skyrocketed, fuelled by strong demand for its artificial intelligence (AI) infrastructure services.

 

According to Bloomberg’s Billionaires Index, Ellison’s net worth jumped by $89 billion to $393 billion following Oracle’s blockbuster earnings report. At one point, his wealth spiked by as much as $101 billion in a single day — the biggest one-day gain ever recorded on the index. During this period, Musk's net worth stood at $385 billion, Bloomberg had reported.

 

Musk first secured the title of the world’s richest person in 2021, and he temporarily lost it to Amazon founder Jeff Bezos and LVMH chairman Bernard Arnault, before reclaiming it last year.

 

Elon Musk’s net worth is currently estimated at $384 billion, according to the Bloomberg Billionaires Index, while Larry Ellison’s wealth is valued at $383 billion.   

 

Oracle’s record rally

 

Oracle’s shares soared as much as 43 per cent, pushing the company’s market value to $969 billion. This was the sharpest stock surge for Oracle since 1992, largely driven by multibillion-dollar orders from AI firms. The company said its cloud infrastructure revenue could grow 77 per cent this financial year to $18 billion and reach $144 billion in four years.

 

Ellison, who owns about 40 per cent of Oracle, saw his fortune swell by more than $100 billion in just over 30 minutes of trading. “AI changes everything,” he said after announcing the bold growth projections.

 

Who is Larry Ellison?

 

Larry Ellison, 81, co-founded Oracle in 1977 and served as its CEO for 37 years before stepping down in 2014. He continues to be the company’s chairman and chief technology officer. A college dropout, Ellison has built much of his wealth through Oracle’s steady expansion, including a series of acquisitions.

 

Ellison was also an early supporter of Musk. He served on Tesla’s board from 2018 to 2022 and left with around 45 million Tesla shares. He also owns nearly half of Paramount Skydance.   

 

Musk’s struggles with Tesla

 

While Ellison’s wealth soared, Musk’s biggest holding, Tesla, has faced setbacks. Tesla’s stock has dropped 14 per cent this year. The company has struggled to revive electric vehicle sales after a sharp decline earlier in 2025.

 

Tesla’s EU sales plunged 40 per cent earlier this summer, marking the seventh consecutive month of decline. Political controversies surrounding Musk’s public endorsements have also dented the company’s image and market share in both Europe and the US.