Oracle co-founder Larry Ellison has overtaken Elon Musk as the world’s richest man after a record stock surge.
Oracle shares jumped over 40% in early trading, valuing the company at $958bn.
Ellison’s 41% stake is now worth $393bn, surpassing Musk’s $384bn fortune.
The rise marks the biggest single-day wealth increase ever recorded on Bloomberg’s billionaires index.
Ellison, 81, also holds wealth through Tesla shares, a sailing team, a tennis tournament, and a Hawaiian island.
He invested $1bn in Musk’s Twitter takeover and sat on Tesla’s board between 2018 and 2022.
Ellison and Musk maintain a close relationship, with Musk frequently visiting Ellison’s island of Lanai.
Ellison is a supporter of Donald Trump and has joined him at White House events, including the Stargate AI project.
Oracle’s growth is fueled by AI demand, providing cloud services to firms such as OpenAI.
Musk first became the world’s richest person in 2021 and reclaimed it last year before losing it again to Ellison.
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