(KRON) — Tesla CEO Elon Musk is reportedly no longer the world’s richest man. That title now belongs to Oracle CEO Larry Ellison, according to a report Wednesday in Bloomberg.
Ellison has seen his fortune skyrocket over the past several hours after Oracle Corp posted better-than-expected quarterly results. Ellison’s fortune rose $101 billion to $393 billion, surpassing Musk’s reported $385 billion personal fortune, according to Bloomberg’s Billionaires Index.
The publication said it was the biggest one-day increase ever recorded by the index.
Oracle shares rose 40% Wednesday after the tech company reported surging demand for its data center capacity from AI customers. Economists, according to Forbes, were “blown away “by Oracle’s projections for AI growth.
Musk, who in addition to being CEO of Tesla, owns social media platform X, first became the world’s richest man in 2021. He has since lost that title twice, first to LVMH CEO Bernard Arnault and then to Amazon founder Jeff Bezos. He regained the title in 2024 and held onto it for over 300 days.
Ellison founded Oracle in Santa Clara, later relocating its headquarters to Redwood City. During the pandemic, the company decamped its HQ to Austin, Texas and has since announced plans to move its headquarters to Nashville, Tennessee.
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