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The title of the world’s richest person has shifted once again, marking a new era in the ongoing battle among top billionaires.
This time, Oracle co-founder Larry Ellison has moved into the number one spot, pushing Elon Musk into second place.
The change came immediately after Oracle’s quarterly earnings report, which sparked one of the largest single-day stock surges in decades.
With such dramatic swings in wealth, the rankings highlight just how quickly fortunes can rise or fall depending on markets.
On Sept. 9, Oracle reported earnings that beat Wall Street expectations by a wide margin, largely fueled by billion-dollar contracts for cloud infrastructure.
The company’s stock price soared by as much as 40% the following day, pushing Ellison’s net worth sharply higher.
According to Bloomberg, “As of 10 a.m. ET on Sept. 10, Ellison’s net worth was up by $101 billion.”
The increase brought his fortune to $393 billion, overtaking Musk’s $385 billion on the Bloomberg Billionaire Index.
It was the first time Ellison had ever claimed the title of richest person in the world, Bloomberg noted, with much of his wealth tied directly to Oracle’s success.
At 81 years old, Ellison’s financial standing underscores both the longevity of his career and the strength of his company’s pivot into cloud services.
The leap also marked the biggest one-day gain in the history of the billionaire index. For Ellison, it represented a new high point after decades of competing at the top of the technology and business world.
While Ellison’s rise is historic, Musk’s wealth has also been volatile, largely tied to Tesla stock performance.
Tesla’s shares are down roughly 7% year to date, in contrast to Oracle’s massive rally, which has doubled the company’s value since January.
However, Musk is still in line for a proposed pay package that could make him the world’s first trillionaire if specific goals are met.
If that deal is finalized and targets are achieved, Musk could once again reclaim his former spot at the top.
Ellison’s climb came just one day after Forbes released its own list of the world’s wealthiest individuals, where Musk was still listed as the richest.
Forbes noted that the 400 richest Americans together hold a combined $6.6 trillion, a figure that continues to rise despite market fluctuations.
At one point earlier this year, Musk’s net worth exceeded $400 billion, making him the only person to ever hit that milestone.
The contrasting lists underscore the fluidity of billionaire wealth rankings depending on stock performance and valuation methods.
Read next:
Do you think Larry Ellison’s rise to the top will be temporary, or is this a sign of a lasting shift in tech wealth dominance? Share your opinions in the comments and let us know whether you expect Musk to regain his spot or if Ellison will remain in control of the number one position.
This time, Oracle co-founder Larry Ellison has moved into the number one spot, pushing Elon Musk into second place.
The change came immediately after Oracle’s quarterly earnings report, which sparked one of the largest single-day stock surges in decades.
With such dramatic swings in wealth, the rankings highlight just how quickly fortunes can rise or fall depending on markets.
On Sept. 9, Oracle reported earnings that beat Wall Street expectations by a wide margin, largely fueled by billion-dollar contracts for cloud infrastructure.
The company’s stock price soared by as much as 40% the following day, pushing Ellison’s net worth sharply higher.
According to Bloomberg, “As of 10 a.m. ET on Sept. 10, Ellison’s net worth was up by $101 billion.”
The increase brought his fortune to $393 billion, overtaking Musk’s $385 billion on the Bloomberg Billionaire Index.
It was the first time Ellison had ever claimed the title of richest person in the world, Bloomberg noted, with much of his wealth tied directly to Oracle’s success.
At 81 years old, Ellison’s financial standing underscores both the longevity of his career and the strength of his company’s pivot into cloud services.
The leap also marked the biggest one-day gain in the history of the billionaire index. For Ellison, it represented a new high point after decades of competing at the top of the technology and business world.
While Ellison’s rise is historic, Musk’s wealth has also been volatile, largely tied to Tesla stock performance.
Tesla’s shares are down roughly 7% year to date, in contrast to Oracle’s massive rally, which has doubled the company’s value since January.
However, Musk is still in line for a proposed pay package that could make him the world’s first trillionaire if specific goals are met.
If that deal is finalized and targets are achieved, Musk could once again reclaim his former spot at the top.
Ellison’s climb came just one day after Forbes released its own list of the world’s wealthiest individuals, where Musk was still listed as the richest.
Forbes noted that the 400 richest Americans together hold a combined $6.6 trillion, a figure that continues to rise despite market fluctuations.
At one point earlier this year, Musk’s net worth exceeded $400 billion, making him the only person to ever hit that milestone.
The contrasting lists underscore the fluidity of billionaire wealth rankings depending on stock performance and valuation methods.
Read next:
- Imagine waking up to $81 TRILLION in your bank account—here’s how it happened!
- The golden ticket to fortune: California woman’s solo victory in $1.2 billion Mega Millions jackpot
