Elon Musk has been dethroned as number one on the world’s richest people’s list following a rise in Oracle’s stock value that saw Larry Ellison overtake him in the global wealth rankings.
According to financial tracking outlets, Ellison’s fortune has now soared to an estimated $393 billion, thus, overtaking Elon Musk’s $384 billion.
This shift marks a rare moment in which Musk, who has dominated the rich list for years through his stakes in Tesla, SpaceX and other ventures, has slipped from the No. 1 position.
The jump in Ellison’s net worth is tied to Oracle’s strong quarterly earnings and surging demand for its cloud and artificial intelligence services.
Several Analysts say the development underscores the growing volatility of billionaire rankings, where fortunes can shift dramatically with market movements.
“A single day’s rally can rewrite the global rich list,” Glenn Greene noted, referencing Oracle stock surge.
Although neither Musk nor Ellison has publicly commented on the new rankings, however, Investors, are watching closely to see whether Tesla or Oracle maintains its momentum in the days ahead — a factor that could once again reshuffle the standings of the world’s wealthiest individuals.
