By VGlobe News| USA
In a shocking twist on the global rich list, Elon Musk has lost his long-held crown as the world’s richest man. The new title holder? Oracle co-founder Larry Ellison, whose fortune skyrocketed after Oracle’s explosive earnings sent shockwaves across Wall Street.
Oracle’s Record-Breaking Earnings Shake the Market
On Tuesday evening, Oracle stunned investors with its quarterly results, revealing a historic surge powered by soaring demand from artificial intelligence (AI) companies. Shares of Oracle soared 40% in a single day, driven by $4 billion worth of contracts announced by CEO Safra Catz.
The result? Ellison’s wealth jumped by an unprecedented $101 billion in one day, pushing his net worth to $393 billion. Musk, meanwhile, slipped behind with $385 billion, ending his reign at the top. This marks the largest one-day wealth increase ever recorded, rewriting history books in real time.
The AI Revolution Crowns a New King
Oracle has rapidly transformed into a powerhouse of the AI revolution. By providing massive cloud and database infrastructure to fuel AI companies, the company has secured its place alongside giants like Microsoft and NVIDIA.
A landmark deal with OpenAI in July — including a 4.5-gigawatt power supply commitment — further cemented Oracle’s dominance. With shares up 103% this year and a jaw-dropping $7 trillion market cap, Oracle is no longer just a legacy software player; it’s now one of the biggest names in the AI gold rush.
From College Dropout to Richest Man Alive
Ellison’s personal story makes his rise even more remarkable. At 81 years old, the college dropout has spent decades building Oracle into a global tech titan. Beyond business, he owns almost the entire Hawaiian island of Lanai, revitalized the Indian Wells Tennis Tournament (dubbed “the fifth Grand Slam”), and has long maintained a reputation as one of Silicon Valley’s most flamboyant billionaires.
His name has also been tied to high-profile ventures — from political alliances with Donald Trump to a controversial but failed attempt to buy TikTok.
A New Wealth Rivalry
With Ellison now crowned as the world’s richest man, the global billionaire race enters a new chapter. While Oracle rides the AI boom, Musk faces hurdles with Tesla’s slowing sales and challenges at SpaceX.
For now, the crown belongs to Larry Ellison — a dramatic reminder that in the world of tech and AI, fortunes can change overnight.
