Tech billionaire Elon Musk has lost his long-held position as the world’s richest person after a dramatic shift in global wealth rankings saw Oracle co-founder Larry Ellison leap ahead.
The sudden change comes on the back of a powerful rally in Oracle’s stock price, which sent Ellison’s net worth soaring past Musk’s.
According to financial trackers, Ellison’s fortune now stands at an estimated $393 billion, surpassing Musk’s roughly $384 billion.
The development marks one of the rare occasions Musk has been pushed from the top spot since taking the lead years ago through his stakes in Tesla, SpaceX, and other ventures.
Ellison’s jump is tied to strong quarterly earnings and a booming demand for Oracle’s cloud and artificial intelligence services.
Market analysts say the shift highlights just how volatile the wealth leaderboard has become, especially among tech moguls whose fortunes are tied to stock performance.
“A single day’s rally can rewrite the global rich list,” one Wall Street analyst observed, noting the magnitude of Oracle’s surge.
Meanwhile, neither Musk nor Ellison has commented publicly on the latest ranking.
However, investors are watching closely to see whether Tesla or Oracle’s momentum holds in the days ahead, which could once again shuffle the standings of the world’s wealthiest individuals.
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