Elon Musk has once again secured the top spot as the world’s richest person, overtaking Oracle co-founder Larry Ellison after a dramatic shift in billionaire rankings. The change followed Oracle’s historic stock rally on Wednesday, driven by strong quarterly earnings and soaring investor confidence in its artificial intelligence (AI) infrastructure services. At one point, Ellison briefly surged past Musk with the largest single-day gain ever recorded on the Bloomberg Billionaires Index, but Musk ultimately regained his lead by market close.
According to Bloomberg, Ellison’s net worth spiked by nearly $101 billion during intraday trading, pushing his fortune to $383.2 billion. Oracle shares jumped as much as 43% before closing 36% higher, marking the company’s most significant one-day gain since 1992. This unprecedented rally lifted Oracle’s market value by $244 billion, bringing its total capitalization to around $922 billion and ranking it 10th in the S&P 500.
A major factor in the optimism was a Wall Street Journal report revealing that OpenAI signed a contract to purchase $300 billion worth of computing power from Oracle over the next five years starting in 2027. This deal is seen as a long-term game changer, cementing Oracle as a dominant force in AI infrastructure. Investors rushed in, viewing Oracle’s position as a central pillar in the global AI race.
Despite Ellison’s meteoric rise, Musk reclaimed the No. 1 position by the end of the day with a net worth of $384.2 billion—just $1 billion ahead of Ellison. Musk’s fortune is closely tied to his stakes in Tesla, SpaceX, and other ventures, which have shown remarkable resilience despite frequent market volatility.
Musk has largely held the crown of the world’s richest person since 2021, though there have been brief shifts. In 2021, he was briefly overtaken by LVMH chairman Bernard Arnault, and in 2024, Amazon founder Jeff Bezos temporarily surged past him. Musk reclaimed the lead last year and had maintained it for more than 300 consecutive days before Ellison’s short-lived takeover.
The rivalry between tech giants underscores the growing influence of AI in shaping not just industries but also personal fortunes. As Oracle deepens its ties with OpenAI and Tesla continues to expand its dominance in the electric vehicle and clean energy markets, the battle for the top spot in the billionaire rankings is set to remain fierce in the years to come.
