TLDR
- Larry Ellison briefly became the world’s richest person after Oracle stock surged 40% following blockbuster earnings
- Ellison’s net worth jumped $100 billion in 30 minutes to $383.2 billion, temporarily surpassing Elon Musk’s $384.2 billion
- Oracle announced over $300 billion in new AI deals with companies like OpenAI, Meta, Nvidia and xAI
- The company expects cloud infrastructure revenue to jump 77% to $18 billion this fiscal year
- Musk regained the top spot by day’s end as Oracle stock pulled back slightly
Oracle co-founder Larry Ellison temporarily claimed the title of world’s richest person Wednesday morning after his company’s stock rocketed following strong earnings results. The 81-year-old executive saw his net worth surge by $100 billion in just 30 minutes of trading.
Ellison’s wealth reached $383.2 billion, briefly surpassing Tesla CEO Elon Musk’s $384.2 billion fortune. The switch came after Oracle reported blockbuster financial results driven by massive artificial intelligence contracts.
Oracle stock jumped nearly 40% at market open, closing Wednesday at $328.33 for a 36% gain. The surge reflected investor excitement about the company’s position in the growing AI market.
The database software company announced it had secured more than $300 billion worth of new deals. Major contracts include partnerships with OpenAI, Meta, Nvidia and Musk’s own AI company xAI.
Oracle expects its cloud infrastructure revenue to increase 77% to $18 billion in the current fiscal year. The company projects this figure will reach $144 billion within four years.
Oracle’s AI Strategy Drives Growth
Ellison explained during an earnings call that Oracle will profit from both building AI computing centers and running day-to-day AI operations. The company plans to support AI systems that will operate robots in factories, design drugs in laboratories and automate various business functions.
“AI Changes Everything,” Ellison said during the investor call. His wealth surge reflects market confidence that computers will replace many human jobs and Oracle will capture significant revenue from this transition.
The brief leadership change highlights the volatile nature of billionaire wealth rankings. Musk regained the top position by market close as Oracle shares pulled back from their peak gains.
Tesla Struggles Impact Musk’s Position
Musk has held the world’s richest person title since 2021, though his position has fluctuated. His wealth primarily stems from his Tesla stake, which has faced challenges this year.
Tesla stock has dropped 14% in 2025 as the electric vehicle maker struggles with declining sales. The company’s European Union sales plunged 40% over summer months for seven consecutive months of declines.
Tesla has also lost U.S. market share as some buyers avoid the brand due to Musk’s political positions. The CEO has promoted extreme right-wing politicians on his X platform, formerly Twitter.
Musk continues promoting Tesla’s robotics and autonomous driving technology to shift investor focus from poor vehicle sales numbers. However, the promised turnaround in electric car sales has not materialized.
Tesla stock closed Wednesday with less than 1% gains at $347.79. The modest increase contrasts sharply with Oracle’s massive surge on the same day.
The wealth gap between the two billionaires now stands at just $1 billion. Both fortunes could fund the lifestyles of 5 million typical American families for an entire year.
Oracle’s latest earnings report demonstrated strong demand for AI infrastructure as companies race to implement artificial intelligence solutions across their operations.
