Stock Surge Propels Ellison Past Musk
In a dramatic single-day shift, Larry Ellison has officially surpassed Elon Musk to become the world’s richest person. Oracle’s stock surged by over 40%, pushing Ellison’s net worth to approximately $393 billion, eclipsing Musk’s $385 billion. This marks the first time Ellison has held the top spot.
Oracle’s AI-Fueled Windfall
Oracle’s explosive growth comes from its newfound dominance in AI-powered cloud infrastructure. The company announced major earnings beats, securing four multibillion-dollar contracts and projecting infrastructure revenue to skyrocket. Key partnerships with OpenAI, xAI, and other AI giants cemented its status as a rising tech powerhouse.
Musk’s Wealth Decline in Comparison
While Ellison’s fortune soared, Musk’s net worth slipped due to a roughly 14% drop in Tesla stock earlier this year. That decline, coupled with less visibility into SpaceX’s private valuation, allowed Ellison to overtake Musk in today’s rankings.
Implications for AI and Billionaire Rankings
Ellison’s rise underscores a broader shift in the tech world: AI infrastructure is now worth more than headline-facing businesses like EV makers or social media platforms. This reshuffles billionaire rankings and could redefine where value is created in tech moving forward.
FAQ – Ellison Overtakes Musk as Richest Person
| Question | Answer |
|---|---|
| How much wealth did Ellison gain? | He gained over $100 billion in a single day due to Oracle’s stock surge. |
| What caused Oracle’s surge? | Strong earnings and major AI infrastructure contracts pushed shares over 40%. |
| What is Ellison’s new net worth? | Approximately $393 billion, compared to Musk’s $385 billion. |
| Why did Musk lose the top spot? | Tesla’s declining stock value and uncertainty over private holdings weakened his position. |
| What does this mean for tech rankings? | It signals a pivot toward AI infrastructure providers as dominant wealth generators. |
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