By Zainab Shafiq 
In a stunning twist in the world of ultra-rich tycoons, Larry Ellison has overtaken Elon Musk to claim the title of World’s richest person. The Oracle cofounder’s net worth soared by an eye-popping $101 billion to $393 billion after the company posted jaw-dropping quarterly earnings on Tuesday. Musk, whose wealth stands at $385 billion, now finds himself trailing as Oracle’s stock continues its meteoric rise.
The remarkable surge came after Oracle revealed that demand for its data center capacity, particularly from AI clients, has exploded. Shares climbed 41% on Wednesday, marking the company’s largest single-day gain since 1992. Oracle CEO Safra Catz confirmed four multibillion-dollar deals during the quarter, with more expected to follow, positioning the company as a crucial player in powering AI technologies.
AI Demand Fuels Oracle’s Meteoric Growth
Oracle has become indispensable in the AI ecosystem, providing infrastructure to companies with massive computing needs. A notable deal includes supplying OpenAI with 4.5 gigawatts of electricity to run ChatGPT’s servers. Analyst Ben Reitzes described Oracle’s $455 billion AI services backlog as “staggering,” highlighting the company’s newfound dominance. With a market value approaching $700 billion, Oracle is on the brink of entering the $1 trillion club, a milestone few companies achieve.
Ellison, who remains Oracle’s largest individual shareholder, is set to solidify his position as the World’s richest person if the stock maintains its momentum. Bloomberg noted that this one-day wealth jump is the largest ever recorded in its index, underscoring how quickly fortunes can shift in today’s AI-driven markets. Oracle’s stock has surged 103% this year, a testament to the broader tech boom where giants like Nvidia and Microsoft are also riding AI waves
From College Dropout to Tech Titan
Ellison’s journey from a 1977 college dropout to the World’s richest person is a classic tale of persistence and vision. Beyond Oracle, he owns 98% of Hawaii’s Lana’i island and has transformed the Indian Wells tennis tournament into the “fifth slam.” Known for his close ties to political and tech circles, Ellison’s influence extends beyond software, cementing his legacy as a multibillionaire with a global footprint.
Also, see:
Saboor Aly Opens Up About Motherhood and C-Section Journey