Surpassing the Titans: Meet the Billionaire Who Dethroned Elon Musk

This week, Larry Ellison, co-founder of Oracle, ascended to the position of the world's wealthiest individual, surpassing Elon Musk with an astounding net worth of $393 billion. This remarkable achievement included an extraordinary single-day gain of $101 billion on September 10, primarily driven by a notable 40 percent increase in Oracle’s stock, sparked by excitement around advancements in artificial intelligence. The Bloomberg Billionaires Index reveals Ellison's wealth exceeding Musk's estimated fortune of $385 billion. By the end of trading, Ellison's wealth settled at approximately $383 billion. Oracle’s latest earnings report highlighted substantial growth potential in cloud revenue, largely fueled by AI demand. CEO Safra Catz informed investors that Oracle Cloud Infrastructure revenue could reach $144 billion by 2030, bolstered by significant multibillion-dollar partnerships with leading companies in the industry, emphasizing Oracle's strategic positioning in the burgeoning AI landscape.