Oracle co-founder Larry Ellison edges toward richest-person title once again

Oracle's shares have dipped slightly a day after a record-breaking surge that pushed the company's market valuation to a record $933 billion. The enterprise software maker's stock was down 2.2% in early trading, following a 35.9% climb in the previous session driven by substantial gains in its AI cloud business and multi-billion-dollar cloud deals.

The surge also caused Oracle co-founder Larry Ellison's net worth to soar by nearly $100 billion to $392.6 billion. Ellison briefly surpassed Elon Musk as the world's richest person, though Musk later reclaimed the top spot with a fortune of $439.9 billion, according to Forbes global wealth rankings. However, a new report by the news agency Reuters has predicted that Ellisson may soon overtake Musk to reclaim the world's richest person title once again.

What may help Oracle co-founder Larry Ellison to beat Elon Musk and regain world’s richest title

"Oracle lit a fire under the rekindled AI trade," Richard Hunter, head of markets at Interactive Investor, said to Reuters. He added that the company’s multi-billion-dollar demand forecast has set off a “ripple effect” across AI-related stocks.Microsoft-backed AI OpenAI has signed a $300 billion agreement with Oracle for computing power, which is one of the largest ever, and it likely represents most of the new revenue Oracle highlighted recently.

As per the Reuters report, Oracle’s stock has almost doubled in 2025, ranking among the strongest performers in the S&P 500 and surpassing the gains of the so-called Magnificent Seven.On September 10, Larry Ellison claimed the top spot on the Bloomberg Billionaires Index for the first time in his career as his net worth had climbed to $393 billion, surpassing Elon Musk, who had led the global wealth rankings since 2024.Ellison’s rise was driven by Oracle’s recent earnings report, which showed higher-than-expected quarterly results, an increase in bookings, and a strong outlook for its cloud business. The news triggered a 41% single-day jump in Oracle’s stock, the largest in the company’s history. Since Ellison’s wealth is mostly in Oracle shares, this added $101 billion to his fortune in one day.At the same time, Musk’s net worth declined as Tesla shares fell 13% in 2025, reducing his wealth to $385 billion and ending his run at the top briefly. Tesla’s board has proposed a performance-based compensation plan that could make Musk the first trillionaire if future goals are met.