For a short-lived but historic moment, Oracle co-founder Larry Ellison became the world’s richest man, overtaking Elon Musk after Oracle’s stock soared on the back of its booming AI cloud services. According to Bloomberg’s Billionaires Index, Ellison’s net worth touched $393 billion, surpassing Musk’s $385 billion. The sudden surge was tied to Oracle’s quarterly earnings, which revealed a massive jump in cloud revenue forecasts and a wave of artificial intelligence partnerships that pushed shares up more than 40 percent in intraday trading.
However, the markets cooled by closing time, trimming Ellison’s gains and restoring Musk’s lead. Still, the brief switch highlighted the growing impact of AI infrastructure and cloud computing in shaping global billionaire fortunes. Oracle’s latest report suggested cloud revenue could climb 77 percent this year to $18 billion, backed by four multibillion-dollar contracts. Demand from AI companies for Oracle’s data centres has been at the heart of this surge, positioning the firm at the centre of the AI gold rush.
The Life and Influence of Larry Ellison
At 81, Larry Ellison is no newcomer to the tech elite. He co-founded Oracle in 1977 and transformed it into a database and cloud giant, becoming one of Silicon Valley’s most influential and flamboyant figures. Known for his love of yachts, private islands, and luxury living, Ellison served as CEO until 2014 and continues to play a pivotal role as Oracle’s chairman and chief technology officer.
His influence extends beyond technology. Ellison has maintained close political ties, most notably with US President Donald Trump, and has aligned himself with projects shaping America’s AI infrastructure. Earlier this year, he appeared alongside OpenAI chief Sam Altman and SoftBank’s Masayoshi Son to launch “Stargate,” a strategic AI expansion initiative. Trump even suggested Ellison as a potential buyer if TikTok is forced into a sale, underscoring his political and business clout.
Ellison’s wealth has also extended into the media world. He supported his son David Ellison’s $8 billion Skydance Media takeover of Paramount, expanding the family’s footprint in Hollywood. This high-profile deal, which closed last month, makes the Ellison family a growing force in the entertainment industry.
Musk continues to dominate headlines through Tesla and SpaceX, though Tesla’s stock has faced pressure. Policy rollbacks under the Trump administration on electric vehicles, combined with investor unease over Musk’s political commentary, have dented confidence. Despite this, Musk’s massive compensation package, potentially worth more than $1 trillion over the next decade, ensures he remains a central player in the global wealth race.
