Summary
- Larry Ellison has surpassed Elon Musk to become the world’s richest person
- His fortune, now at $393 billion USD, surged on the back of Oracle’s booming AI cloud business
- This shift signals that the new tech gold rush is in AI infrastructure
In a monumental shift at the pinnacle of global wealth, Oracle co-founder Larry Ellison has dethroned Elon Musk to become the world’s richest person. According to the Bloomberg Billionaires Index, Ellison’s fortune surged to $393 billion USD, a stunning leap that puts him ahead of Musk’s $385 billion USD and ends Musk’s nearly year-long reign at the top.
The remarkable shift was fueled by an unprecedented one-day wealth increase for Ellison, the largest ever recorded by the index. Oracle’s stock soared by over 40% after the company announced unexpectedly strong quarterly results and a highly optimistic forecast for its AI-driven cloud business. As Oracle secures multi-billion-dollar contracts with major players like OpenAI and Meta, investors are placing a massive bet on the company’s role as a key provider of the infrastructure that powers the AI boom.
Ellison’s surge highlights a broader trend: the new gold rush in technology is not in consumer products or social media, but in the computing backbone of artificial intelligence. While Musk’s wealth has seen a dip due to a decline in Tesla shares, Ellison’s fortune has soared on the back of his company’s renewed relevance and market dominance. His rise to the number one spot at 81 years old is a powerful testament to his enduring influence and Oracle’s successful transformation
The post Larry Ellison Dethrones Elon Musk as World’s Richest Person appeared first on Hypebeast.
