Elon Musk has been dethroned. Oracle cofounder Larry Ellison is now the world’s richest person, after his fortune soared by $101 billion to $393 billion, thanks to Oracle’s booming AI-driven earnings.
Musk, whose net worth stands at $385 billion, first claimed the top spot in 2021 but has now been pushed aside by Ellison’s record-breaking leap.
At 81, Ellison remains Oracle’s largest individual shareholder and has seen the company’s stock double this year as demand for AI infrastructure skyrockets.
For Ellison, his road to becoming the world’s richest person traces back to 1977, when he dropped out of college and helped establish Oracle.
The 81-year-old multibillionaire owns 98% of the Hawaiian island of Lana’i and is credited for reviving the Indian Wells tennis tournament in California, earning it the “fifth slam” nickname.
Ellison has close ties with President Donald Trump, often appearing with him at the White House for various technology events and rewarding Oracle contracts. He’s also seen as a possible suitor for TikTok, although those plans have not come to fruition.
Credit; Guardian
