Larry Ellison Briefly Surpasses Elon Musk as World’s Richest After Market Surge
Larry Ellison momentarily overtook Elon Musk as the world’s richest person after a surge in the value of his business holdings. His fortune reached $393bn during early trading, edging just ahead of Musk’s $384bn. However, the advantage was temporary because the stock later closed lower, reducing Ellison’s stake to $378bn. Consequently, Musk reclaimed the top spot by the day’s end.
Both billionaires remain far ahead of Mark Zuckerberg and Jeff Bezos in global wealth rankings. Although Ellison’s rise was brief, it highlighted the impact of market movements on personal fortunes.
Wealth Sources and Shared Ventures
Ellison, 81, derives most of his wealth from his large ownership in the enterprise software company. In addition, he has diverse assets, including a stake in Tesla, ownership of the Indian Wells Open tennis tournament, a sailing team, and the Hawaiian island of Lanai. Musk, meanwhile, continues to expand his influence through Tesla, SpaceX, and other ventures.
The two entrepreneurs share a close relationship. Ellison once sat on Tesla’s board and invested $1bn in Musk’s purchase of Twitter, later rebranded as X. According to Walter Isaacson’s biography, when Musk requested support, Ellison replied he would provide “a billion dollars or whatever you recommend.” Musk also visits Ellison’s island frequently, which underlines their strong personal ties.
Political Ties and AI-Driven Growth
Ellison openly supports Donald Trump and has appeared with him at events such as the launch of the Stargate project, which aims to channel $500bn into US artificial intelligence infrastructure. Musk also backed Trump during the 2024 campaign, although their alliance weakened earlier this year.
Meanwhile, Ellison’s core wealth has been boosted by surging demand for cloud computing capacity from AI companies. These firms require immense data centers to power advanced technologies, and Ellison’s company has positioned itself as a major provider. Therefore, as AI adoption accelerates, the rivalry between Ellison and Musk for the title of richest person could intensify in the months ahead.
