Oracle co-founder and chairman Larry Ellison has officially overtaken Elon Musk as the world’s richest individual, after a dramatic rise in his personal net worth by more than $101 billion over the past year.
According to Bloomberg’s Billionaires Index, Ellison’s wealth now exceeds Musk’s following a surge in Oracle’s stock, which has soared on the back of record-breaking demand for cloud services and artificial intelligence infrastructure. The 79-year-old tech magnate, long known for his flamboyant lifestyle and risk-taking investments, has quietly re-emerged at the centre of the global technology boom.
Oracle, the enterprise software company Ellison co-founded in 1977, has benefited from surging demand for cloud computing partnerships with giants like Nvidia and Microsoft. Investors have rewarded the company with sharp share price gains, propelling Ellison’s stake to new highs.
By contrast, Elon Musk’s wealth has faced volatility. Tesla’s stock has struggled under slowing EV demand and increased competition from Chinese automakers, while ongoing controversies surrounding Musk’s leadership of X (formerly Twitter) have also spooked investors.
Ellison’s ascent underscores a shifting dynamic in global tech leadership. While Musk dominates public discourse with rockets and EVs, Ellison’s quieter bet on enterprise software and cloud infrastructure has delivered staggering financial returns.
For now, the billionaire crown rests with Ellison. But in the high-stakes world of technology and markets, the top spot has never been more fragile.