Larry Ellison, US tech billionaire and Oracle co-founder, briefly surpassed Tesla chief executive Elon Musk on Wednesday to become the world’s richest man, as his wealth surged after Oracle, where he owns a 41% stake, reported better-than-expected financial results.
In early trading, Oracle shares jumped over 40%, briefly valuing the company at around $960bn and Ellison’s stake at $393bn, ahead of Elon Musk’s $384bn, according to Bloomberg’s billionaires index.
The lead didn’t last long, however, as the stock closed at $328, a 36% rise, bringing Ellison’s shareholding to $378bn and putting Musk back on top.
Now, the two are ahead of Facebook founder Mark Zuckerberg and Amazon’s Jeff Bezos. Musk first became the world’s richest person in 2021, later losing the spot to Amazon’s Jeff Bezos and LVMH’s Bernard Arnault. He regained it last year and held the title for just over 300 days.
At 81, Ellison also draws wealth from other ventures, including a stake in Tesla, Elon Musk’s electric car company, the Indian Wells Open tennis tournament, a sailing team, and a private island in Hawaii, Bloomberg reported.
Ellison and Musk have a close relationship, with the former often seen as a mentor to the South Africa-born entrepreneur.
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