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Oracle co-founder Larry Ellison briefly became the world’s richest person this week after a dramatic surge in the company’s stock price pushed his net worth above that of Tesla CEO Elon Musk.
Ellison’s fortune climbed to an estimated $392 billion as Oracle shares jumped more than 35% in early trading. The rally was fueled by record demand for the company’s cloud infrastructure and a string of massive artificial intelligence contracts.
Among the deals was a multi-billion-dollar partnership with OpenAI, which is relying on Oracle’s cloud computing systems to power its AI products. Oracle is also a key player in the Stargate initiative, a global AI infrastructure project backed by major tech firms and investors.
The stock spike allowed Ellison to briefly surpass Musk, whose wealth has dipped in recent months amid volatility in Tesla shares. Musk, who has long held the top spot, now sits narrowly behind Ellison, highlighting how quickly fortunes can shift among the world’s richest billionaires.
Oracle, a company co-founded by the 81-year-old Ellison more than 40 years ago, closed in on $1 trillion during Wednesday’s stock market valuation, thus making him the world’s richest person.
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The post Larry Ellison Overtakes Elon Musk as World’s Richest Person first appeared on KaziNiKazi Digital and is written by Crispus A..