Larry Ellison, the co-founder of Oracle Corp., is closing in on Elon Musk for the title of the world’s richest man after an unprecedented leap in his fortune.
According to Bloomberg, Ellison’s net worth skyrocketed by $70 billion in a single day after Oracle reported quarterly results that exceeded Wall Street expectations on Tuesday in New York. The company also projected stronger growth ahead, sparking investor enthusiasm.
The surge pushed Ellison’s total fortune to $364 billion, putting him within striking distance of Musk’s $384 billion, based on the Bloomberg’s billionaire index. If the gains hold when markets open Wednesday, it would mark the largest single-day wealth increase ever recorded by the index
Elon Musk first claimed the title of the world’s richest person in 2021 before ceding it to Amazon founder Jeff Bezos and LVMH chairman Bernard Arnault. He regained the crown last year and has held it for over 300 days.
But Ellison’s meteoric rise now positions him as Musk’s closest challenger. At 81, Ellison serves as Oracle’s chairman and chief technology officer, with the majority of his wealth tied directly to the database software giant he co-founded.
Oracle’s shares, already up 45% this year, soared more than 26% in extended trading following the results, its largest single-day jump since 1999.
The rally was driven by a major surge in bookings and a bold outlook for its cloud infrastructure business, signaling rapid expansion in one of the most competitive sectors of technology.
The dramatic stock movement not only redefined Oracle’s trajectory but also reshaped the global billionaire rankings overnight.
