Larry Ellison, the 81-year-old co-founder of Oracle, has surpassed Elon Musk to become the world’s richest individual following a significant rise in demand for artificial intelligence services, which propelled Oracle shares to new heights. The company’s stock soared more than 40% in New York trading on Wednesday, boosting Ellison’s net worth by $101 billion in one day and elevating his total fortune to $393 billion, according to Bloomberg’s Billionaires Index.
This dramatic increase underscores the extraordinary wealth generated by the AI boom, which is transforming the fortunes of technology companies and their founders. Ellison, who retains a 41% stake in Oracle, co-founded the software giant in 1977 and has been its driving force for nearly five decades. Today, the company is experiencing record demand for cloud computing services as businesses heavily invest in generative AI.
Beyond Oracle, Ellison’s business interests are extensive. He holds a stake in Tesla, owns the Hawaiian island of Lanai, and finances SailGP, the global yacht racing league he launched in 2019. Known for his lavish lifestyle, he is also building a family dynasty, with his son David Ellison now leading Paramount following a high-profile takeover, which allegedly led to the cancellation of the Stephen Colbert Show to ensure the takeover passed regulatory scrutiny during President Trump’s administration.
Ellison’s rise marks a new milestone in Silicon Valley’s reshaping of global wealth, as AI’s beneficiaries solidify their positions at the top of the financial hierarchy. Musk, with a net worth of $385 billion, now follows the Oracle founder in second place, illustrating the rapid shifts in fortune within the high-stakes world of technology.
