New Delhi, Sep 11
US software giant Oracle's Co-founder and CTO, Larry Ellison, has become the world's richest person, overtaking Tesla CEO Elon Musk, following a significant increase in his wealth due to the price surge of his company's shares.
Forbes’ real-time billionaire rankings show Ellison’s fortune increased by $101 billion, raising his total net worth to $395.7 billion after Oracle shares experienced a historic rally, surging 41 per cent on Wednesday on New York Stock Exchange (NYSE) — marking the steepest increase since 1992. Musk's fortune has slipped after Tesla shares fell 14 per cent in 2025.
Oracle's stock rose after it issued an aggressive outlook for its cloud business, in the race to meet growing demand for artificial intelligence computing, taking the company's market valuation to $947 billion.