Larry Ellison Briefly Overtakes Elon Musk as World’s Richest Person After Oracle’s Historic Stock Surge

In a stunning turn of events, Oracle co-founder Larry Ellison briefly claimed the title of the world’s richest person on September 10, 2025, surpassing Tesla and SpaceX CEO Elon Musk, as a record-breaking rally in Oracle’s stock price propelled Ellison’s net worth by an unprecedented $101 billion in a single day. This marked the largest one-day wealth increase ever recorded by the Bloomberg Billionaires Index, pushing Ellison’s fortune to a peak of $393 billion during intraday trading. While Musk reclaimed the top spot by the market close, with a net worth of $384.2 billion compared to Ellison’s $383 billion, the event underscored the transformative impact of the artificial intelligence (AI) boom on tech fortunes and the volatility of billionaire rankings.

Oracle’s Meteoric Rise

The catalyst for Ellison’s wealth surge was Oracle’s blockbuster fiscal first-quarter 2026 earnings report, released after market close on September 9, 2025. Although Oracle slightly missed Wall Street’s expectations—reporting $14.9 billion in total revenue against a forecast of $15 billion and adjusted earnings per share of $1.47 compared to $1.48 expected—the company’s forward guidance electrified investors. Oracle projected its cloud infrastructure revenue to soar 77% to $18 billion in fiscal 2026, with ambitions to scale to $144 billion by fiscal 2030, driven by insatiable demand for AI-related cloud services.

The company’s remaining performance obligations (RPO), a key indicator of future contracted revenue, skyrocketed 359% year-over-year to an astonishing $455 billion. This included four multibillion-dollar contracts with three unnamed customers, signaling Oracle’s growing dominance in the AI infrastructure race. CEO Safra Catz highlighted partnerships with AI heavyweights such as OpenAI, xAI (founded by Musk), Meta, Nvidia, and AMD. Reports also surfaced of a potential $300 billion, five-year computing power contract with OpenAI, further cementing Oracle’s pivotal role in the AI ecosystem.

On September 10, Oracle’s stock surged 36%—its largest single-day percentage gain since 1992—closing at a record high and boosting the company’s market capitalization by approximately $244 billion to $922 billion. This placed Oracle among the top 10 companies in the S&P 500. The stock hit an intraday high of $345.69, up from a previous close of around $256, and as of pre-market trading on September 11, it was up an additional 1.8%, reflecting sustained investor enthusiasm.

Ellison’s Massive Stake

Larry Ellison, Oracle’s 81-year-old chairman, chief technology officer, and co-founder, owns approximately 41% of the company, equating to roughly 1.16 billion shares. This substantial stake ties the vast majority of his wealth to Oracle’s performance. The stock’s meteoric rise on September 10 increased the value of Ellison’s holdings from an estimated $280-294 billion to over $380 billion at its peak, doubling his year-to-date wealth gains to $200 billion. This historic one-day increase of $101 billion outstripped previous records, such as Musk’s $94 billion gain in November 2021, and highlighted the concentrated nature of Ellison’s fortune compared to Musk’s more diversified portfolio.

Beyond Oracle, Ellison’s wealth includes a stake in Tesla (acquired during his 2018-2022 tenure on its board), his ownership of the Hawaiian island of Lanai, and his son David Ellison’s $8 billion acquisition of Paramount Global. However, these assets pale in comparison to his Oracle holdings, which remain the cornerstone of his financial empire.

Musk’s Rollercoaster Year

Elon Musk, 54, had held the title of the world’s richest person for over 300 days, with his net worth peaking at $486 billion in December 2024, according to the Bloomberg Billionaires Index. His wealth is primarily driven by his stakes in Tesla (valued at approximately $187 billion), SpaceX (conservatively valued at $200 billion), and other ventures like xAI and The Boring Company. However, Tesla’s stock has faced headwinds in 2025, declining 13-14% year-to-date amid cooling demand for electric vehicles and intensifying competition. This has made Musk’s position at the top of the wealth rankings more vulnerable, with his net worth fluctuating significantly based on public market dynamics.

On September 10, Musk’s fortune stood at around $385 billion during intraday trading, briefly trailing Ellison’s $393 billion. By the market close, however, Musk edged back ahead with $384.2 billion to Ellison’s $383 billion, a razor-thin margin of $1 billion. Different wealth indices reported slightly varying figures: Forbes, for instance, listed Musk at $439.9 billion and Ellison at $399.7 billion as of the September 10 close, reflecting methodological differences in real-time calculations.

The AI Boom and Billionaire Rivalries

Ellison’s brief ascent to the top spot underscores the transformative impact of the AI revolution on global wealth. Oracle has positioned itself as a critical player in AI cloud infrastructure, securing access to Nvidia’s coveted GPUs and forging deals to power massive AI data centers. Notably, Oracle is part of the Trump administration’s Stargate project, a $500 billion initiative to bolster U.S. AI infrastructure, further enhancing its strategic importance. The company’s ability to capitalize on the AI gold rush has not only boosted its market value but also elevated Ellison’s personal fortune to unprecedented heights.

The rivalry between Ellison and Musk is particularly intriguing given their overlapping interests. Oracle’s partnerships with xAI, Musk’s AI venture, highlight the complex interplay between competition and collaboration in the tech world. Meanwhile, other billionaires like Jeff Bezos ($258 billion), Mark Zuckerberg ($252 billion), and Jensen Huang ($134 billion) trail further behind, with their wealth also tied to tech and AI-driven enterprises. The Bloomberg Billionaires Index, which tracks the top 500 fortunes, notes that 2025 has seen significant volatility in rankings, with tech titans dominating due to the sector’s outsized gains.

Looking Ahead

As of September 11, 2025, the billionaire rankings remain fluid, with market movements likely to influence whether Ellison can reclaim the top spot. Oracle’s continued momentum in pre-market trading suggests that investor confidence in its AI strategy remains strong, potentially setting the stage for further gains. For Musk, Tesla’s performance and SpaceX’s private valuation will be critical in maintaining his lead, especially as public market sentiment shifts.

The broader narrative, however, extends beyond individual wealth. The AI-driven tech boom is reshaping global markets, with companies like Oracle, Nvidia, and Microsoft at the forefront. Ellison’s rise reflects not just personal success but the growing centrality of AI infrastructure in the global economy. As Oracle continues to secure massive contracts and expand its cloud footprint, Ellison’s wealth—and his place in the billionaire hierarchy—will remain a focal point in the ever-evolving saga of tech’s richest players.