Larry Ellison is now the wealthiest person in the world, replacing Elon Musk on the Bloomberg Billionaires Index. His net worth increased by a record $101 billion in one day following Oracle's announcement of record quarterly results. This historic rise made Ellison wealthier by $393 billion, and now Musk has $385 billion.
The Oracle earnings report showed good bookings and forecasted continued growth in its cloud infrastructure segment. This announcement sent Oracle shares up 41% on Wednesday, the most significant one-day gain in the company's history in 33 years. Previous gains made by Oracle stock in the first part of the year had already increased by 45% up until Tuesday, and the recent Surge only strengthened Ellison's position.
The Bloomberg Billionaires Index has changed frequently in recent years. Musk first topped the list in 2021, surpassing Amazon’s Jeff Bezos and LVMH’s Bernard Arnault. He reclaimed the title in 2024 and held it for over 300 days before Ellison surged this week.
Ellison is the co-founder of Oracle, which was established in 1977. He is currently the chairman and chief technology officer of the company. Most of his wealth is still held in Oracle shares, which have performed far better this year than Tesla stock, which fell by 13% in 2025. This has limited Musk's overall wealth despite the continued demand for electric cars.
Oracle's performance indicated that the demand for enterprise cloud infrastructure is increasing at a steep rate. The firm has made a considerable capital investment to counter other market rivals like Amazon Web Services and Microsoft Azure. The enhanced perspective has assured investors of Oracle's long-term growth path, leading to the historic market reaction.
Analysts observe that Ellison's rise to the top highlights how changes in the technology markets have a direct impact on the lists of the wealthiest people on the planet. Oracle's aggressive expansion in cloud services versus Tesla's latest struggles is a factor that has led to a reduction in the wealth gap and the ultimate crossover of the two billionaires.
Now that Ellison is on top, subsequent trends in technology markets and company revenues will probably dictate whether he will be holding on to it or whether another competitor will reclaim the title in the next few months.