Elon Musk regains world’s richest title from Larry Ellison

Elon Musk has once again secured his place as the world’s richest individual, regaining the top spot from Oracle co-founder Larry Ellison. The shift came after Oracle’s stock delivered a record-breaking rally, briefly propelling Ellison ahead. However, Musk’s fortune, largely tied to Tesla and SpaceX, helped him reclaim the No. 1 position by the close of trading.

Oracle’s Strong Earnings Spark Wealth Surge for Larry Ellison

Oracle stunned markets with its latest quarterly earnings, surpassing analyst expectations. Investors responded with strong buying activity, sending Oracle’s stock soaring by up to 43% in intraday trading before settling 36% higher at the close. This surge marked Oracle’s biggest single-day rally since 1992.

The company’s bullish forecast, driven by growing demand for artificial intelligence (AI) infrastructure services, was the primary catalyst. As Oracle’s largest shareholder, Larry Ellison saw his net worth balloon by $89 billion in a single day, briefly lifting him above Elon Musk in the Bloomberg Billionaires Index.

OpenAI’s Mega Deal with Oracle Boosts Confidence

Adding fuel to Oracle’s rally, a Wall Street Journal report revealed that OpenAI has signed a contract worth $300 billion to purchase computing power from Oracle over five years, starting in 2027.

This long-term agreement is viewed as a major growth driver for Oracle’s AI business. With OpenAI projected to generate $12.7 billion in revenue by 2025, the partnership further bolstered investor confidence in Oracle’s future dominance in the AI infrastructure market.

Ellison’s Record-Breaking Wealth Gain

For a brief period on Wednesday, Ellison’s wealth surged by as much as $101 billion, marking the largest single-day wealth increase ever recorded on Bloomberg’s Billionaires Index. His total fortune peaked at $383.2 billion, placing him ahead of Musk.

However, despite this historic gain, Oracle’s rally wasn’t enough to keep Ellison at the top. By the end of the trading session, Musk had reclaimed his lead with a net worth of $384.2 billion, just $1 billion ahead of Ellison.

Oracle Climbs in Market Rankings

The sharp stock rally lifted Oracle’s market capitalization by $244 billion, bringing its valuation to $922 billion. This milestone placed Oracle within the top 10 companies on the S&P 500 index, ahead of industry giants like Eli Lilly, Walmart, and JPMorgan Chase.

For Ellison, who holds a significant personal stake, this market leap translated into unprecedented wealth gains, though temporary in terms of his global ranking.

Musk’s Wealth Resilience Over the Years

Elon Musk has maintained a stronghold on the world’s richest list since first achieving the top spot in 2021. Over time, he has been briefly surpassed by Bernard Arnault (LVMH) in 2021 and Jeff Bezos (Amazon) in 2024, but each time he bounced back.

Musk’s wealth is tied largely to his stakes in Tesla, SpaceX, and other ventures, which have demonstrated resilience despite global economic volatility. His ability to reclaim the No. 1 spot once again highlights the enduring strength of his business empire.

The Battle for the World’s Richest Title

The ongoing rivalry between billionaires underscores the influence of corporate performance on personal fortunes. While Ellison’s gains were extraordinary, Musk’s diversified holdings across multiple industries provided stability, allowing him to narrowly edge out his challenger.

The rapid swings in fortune also highlight the growing impact of artificial intelligence and tech-driven investments in shaping global wealth rankings.

Conclusion

Elon Musk’s swift return to the top of the world’s wealth rankings reaffirms his dominance in the billionaire race, even as challengers like Larry Ellison rise on the back of AI-driven market surges. With technology and AI reshaping industries, future shifts in the billionaire leaderboard are expected, keeping this high-stakes rivalry in global focus.