Oracle founder Larry Ellison has just overtaken Elon Musk as the richest person in the world. After Oracle’s stunning earnings reports released on Tuesday evening, Ellison’s wealth soared by US$101 billion to US$393 billion. According to Bloomberg, Musk’s net worth is US$385 billion.
On its earnings report, Oracle reported a surging demand for its data center capacity, mainly for artificial intelligence customers. It effectively skyrocketed its stock (ORCL), as shares are 41% higher on Wednesday. The company is also on pace for its biggest single-day stock price since 1992.
Oracle CEO Safra Catz announced on Tuesday that after the stock market closed, the company signed four multibillion-dollar contracts with clients during the quarter. Catz also said she expects more contracts to be signed by the firm in the coming months.
Oracle’s infrastructure turned Larry Ellison into the richest man in the world
The company’s turn into a key infrastructure provider that powers AI companies’ demands for computing power was a key driving force behind Ellison’s rise as the richest person in the world. Oracle’s operations are focused on cloud services and database software providers.
Last July, Oracle announced a deal with OpenAI, the parent company of the most popular AI chatbot in the world, ChatGPT. Oracle is set to provide the tech company with 4.5 gigawatts of electricity to power its AI software.
World's Richest People (Bloomberg)
1. Larry Ellison $393 billion
2. Elon Musk $385 billion
3. Mark Zuckerberg $269 billion
4. Jeff Bezos $258 billion
5. Larry Page $210 billion pic.twitter.com/cCIKMYR1IP— Morning Brew ☕️ (@MorningBrew) September 10, 2025
Ellison is Oracle’s largest individual shareholder, and could hold onto his status as the richest man in the world if the stock keeps its staggering form in the long run. Analysts say, however, that the stock’s soaring in price is rare for a company with an already massive market value. Oracle is worth just under US$700 billion, which makes it the 13th most valuable stock on the market. The company is now on the verge of breaking the US$1 trillion market value.
Bloomberg says Ellison’s wealth growth is the biggest one recorded in a single day
According to Bloomberg’s Billionaires Index, Ellison’s wealth growth is the biggest one-day increase ever recorded. Oracle has effectively ridden the AI wave to become the world’s most valuable company, at a valuation of more than $4 trillion. Indeed, its stock has increased by 103% this year.
Elon Musk first became the richest man in the world in 2021 and has remained so for the majority of the last three years, mainly thanks to his investments in Tesla and SpaceX. He had only lost it twice, first to Bernard Arnault from LVMH, and in 2024 to Jeff Bezos, the founder of Amazon.
Musk is expected to regain his position as the richest man in the world, as recently he was given a new pay package that could be worth close to $1 trillion, if Tesla hits certain milestones. Ellison, on the other hand, owns 98% of the Hawaiian island of Lana’i, and was proposed as a suitor for TikTok, but those plans have not come to anything.