Oracle’s Market Rally Fuels Ellison’s Surge
Larry Ellison’s wealth skyrocketed on Wednesday as Oracle shares rose over 40% in early trading following stronger-than-expected financial results. At its peak, the company’s market value touched nearly $960 billion, pushing Ellison’s 41% stake to $393 billion. This briefly edged out Elon Musk’s $384 billion fortune, according to Bloomberg’s Billionaires Index.
Musk Regains the Top Spot
Ellison’s lead was short-lived. Oracle stock later closed up 36% at $328 per share, valuing his holdings at $378 billion. This put Musk, with an estimated $384 billion net worth, back in front. The two now sit comfortably ahead of other billionaires, including Mark Zuckerberg and Jeff Bezos.
Beyond Oracle: Ellison’s Expansive Wealth
At 81, Ellison’s fortune extends far beyond Oracle. He owns a stake in Tesla, the Indian Wells tennis tournament, a sailing team, and even the Hawaiian island of Lanai. He also invested $1 billion in Musk’s Twitter (X) takeover and served on Tesla’s board from 2018 to 2022, underscoring his close ties with Musk.
A Relationship of Rivals and Mentors
Despite competing for the world’s richest title, Ellison and Musk share a long-standing relationship. Ellison is often described as a mentor to Musk, hosting him regularly on Lanai. Both have also aligned politically at times, with Ellison openly supporting Donald Trump and Musk backing Trump’s 2024 campaign before their falling out earlier this year.
AI Boom Driving Oracle’s Growth
The surge in Ellison’s wealth is largely linked to Oracle’s growing role in artificial intelligence infrastructure. Its cloud services are powering companies like OpenAI, which rely on massive datacenters to train and deploy AI models. This AI-driven demand has positioned Oracle as a key competitor to cloud giants Amazon and Microsoft.
The Billionaire Contest Continues
Musk first became the world’s richest man in 2021, later yielding the title to Jeff Bezos and Bernard Arnault, before regaining it last year. With Ellison’s Oracle fortunes tied to the AI wave, the contest for the world’s top billionaire is intensifying — and may see further shifts in the months ahead.
