Oracle Corporation’s Chief Technology Officer Larry Ellison briefly overtook Tesla Chief Executive Officer Elon Musk as the world’s richest individual after a sharp jump in Oracle’s stock price on the back of strong quarterly earnings, reported The Indian Express.
Following the earnings announcement, which beat analysts’ expectations, Ellison’s net worth surged by $89 billion in a single day to $383.2 billion, according to the Bloomberg Billionaires Index. This record gain placed him above Musk for much of the day. However, Musk regained the top position the following morning with a $1 billion lead.
Earlier this year, Ellison climbed from fourth to second place on the index, surpassing Meta’s Mark Zuckerberg and Amazon’s Jeff Bezos, who now stand at third and fourth, respectively. Musk, who first claimed the top spot in 2021, has seen fluctuations in his ranking but has held the number one position for the past 16 months, becoming the first individual to cross a $400 billion net worth last year.
India’s wealthiest also feature prominently. Reliance Industries Chairman Mukesh Ambani ranks 18th globally with a net worth of $97.9 billion, recording a year-to-date gain of $7.26 billion. Adani Group Chairman Gautam Adani follows at 21st with $80.9 billion, reflecting a year-to-date increase of $2.19 billion.