NEW YORK, USA — Larry Ellison, co-founder of Oracle, has overtaken Elon Musk as the world’s wealthiest individual following a sharp surge in Oracle’s share price.
According to the Bloomberg Billionaires Index, Ellison’s net worth climbed to $393 billion (£290 billion) on Wednesday, September 10, 2025, surpassing Musk’s $385 billion (£284 billion).
It marks the first time the 80-year-old technology magnate has topped the global rich list in his five decades of building Oracle into one of the world’s largest software companies.
The leap in Ellison’s fortune comes after Oracle issued a bullish outlook for its cloud infrastructure business, driven largely by artificial intelligence (AI) partnerships.
The company’s shares soared more than 40 percent in response, boosting investor confidence in its future earnings.
Oracle’s chief executive, Safra Catz, told investors on Tuesday, September 9, 2025, that the company recently secured four multibillion-dollar contracts with AI customers and expects further agreements in the coming months.
The company also projected a 77 percent rise in cloud revenue this year to $18 billion.
Musk, who had held the title of world’s richest person for nearly a year, has seen his wealth erode amid a sustained decline in Tesla’s share price.
The electric vehicle maker is contending with investor anxiety over President Donald Trump’s rollback of electric vehicle incentives and growing consumer backlash against Musk’s political involvement.
Despite these headwinds, Musk’s fortune may rebound if Tesla’s board approves a proposed compensation package valued at more than $1 trillion (£740 billion).
The package is tied to a series of ambitious growth targets for the company.
Oracle, once considered a legacy software firm, is experiencing renewed momentum as technology companies and governments race to secure computing power for AI applications.
Ellison’s ascent signals both a personal milestone and a turning point in the global tech economy, with cloud infrastructure emerging as a key driver of corporate and personal wealth.
