Larry Ellison Becomes World's Richest Person

Larry Ellison, cofounder and chairman of Oracle Corporation, has become the world's richest person, surpassing Elon Musk. According to Bloomberg's Billionaires Index, Ellison's wealth jumped to $393 billion following a strong earnings report from Oracle.

Shares for Oracle were up 40% on Wednesday morning to $338, driven by the company's artificial intelligence capabilities and four multibillion-dollar contracts signed with customers during the quarter. CEO Safra Catz expects to sign several more in the coming months.

Musk says he plans to sue Apple for not featuring X or Grok among its top apps

Ellison, 81, remains active as Oracle's chief technology officer and has been instrumental in shaping the company's growth. Founded in 1977 by Ellison, Bob Miner, and Ed Oates, Oracle has transformed from a consultancy into the fourth-largest technology company in the world.

Oracle has broadened its portfolio over time, including the recent acquisition of healthcare company Cerner. Ellison also helped his son, David, with the merger of Skydance with Paramount Global, parent company to media networks like CBS.

Ellison's net worth now surpasses Musk's $385 billion, and he is followed in the rankings by Meta founder Mark Zuckerberg ($269 billion), Amazon founder Jeff Bezos ($258 billion), and Google co-founders Larry Page ($210 billion) and Sergey Brin ($196 billion).