In a stunning turn of events, Oracle founder Larry Ellison has knocked Elon Musk off his perch as the world’s wealthiest person after his company’s stock went absolutely bonkers on Wednesday.
According to Linda Ikeji Blog, Oracle shares exploded by more than 40% in early trading, hitting $340 per share and pushing the company’s value close to $958 billion.
Since Ellison owns about 41% of Oracle, his net worth shot up to $393 billion—just enough to edge past Musk’s $384 billion fortune, according to Bloomberg’s wealth tracker.
This wasn’t just any ordinary trading day. Oracle logged its biggest single-day gain in company history, and Ellison scored the largest one-day wealth increase ever recorded by Bloomberg.
Not bad for an 81-year-old who’s been in the tech game since the 1970s.
While Oracle is Ellison’s cash cow, the guy has his fingers in plenty of other pies. He owns Tesla stock, an entire Hawaiian island (Lanai), the Indian Wells tennis tournament, and even runs a professional sailing team on the side.
What makes this wealth flip even more interesting is that Ellison and Musk are actually close friends.
Ellison mentored Musk for years, served on Tesla’s board from 2018 to 2022, and threw $1 billion at Musk’s Twitter buyout without batting an eye.
Musk regularly hangs out at Ellison’s Hawaiian hideaway, so this probably won’t hurt their friendship.
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