Billionaire Shake-Up: Oracle’s Larry Ellison Surpasses Elon Musk to Become World’s Richest, Adds $101 Billion in a Single Day

New Delhi(The Uttam Hindu): The global billionaire rankings witnessed a dramatic shake-up as Oracle Corporation co-founder and chairman Larry Ellison dethroned Elon Musk to become the world’s richest person.

The historic shift came after Oracle posted exceptionally strong quarterly results, triggering a record-breaking rally in its stock. On Wednesday, Oracle’s shares soared by as much as 41%, opening at $319.19 after closing the previous day at $241.63, and briefly touching $345.72. So far in 2025, Oracle’s stock has surged more than 45%.

Thanks to the surge, Ellison’s net worth skyrocketed by $101 billion in just one day, taking his fortune to $393 billion as of 10:10 a.m. New York time, according to the Bloomberg Billionaires Index. Meanwhile, Elon Musk’s net worth slipped to $385 billion after a 13% drop in Tesla shares, pushing him to second place.

This marks the largest single-day wealth jump ever recorded for any billionaire. Ellison, now 81, continues to serve as Oracle’s chairman and chief technology officer (CTO), with the bulk of his wealth tied to the company’s performance.

Elon Musk had first seized the world’s richest crown in 2021 and regained it in 2024 after briefly losing it to Jeff Bezos and Bernard Arnault. But the latest market shifts show how quickly fortunes—and billionaire rankings—can change overnight. The development highlights not only the volatility of tech-driven wealth but also the massive impact of stock market momentum on the global financial elite.