Oracle cofounder Larry Ellison has officially overtaken Elon Musk to become the world’s richest person after a massive rally in Oracle’s shares led to a historic jump in his net worth. Ellison’s fortune soared by an estimated US$101 billion in a single day as Oracle reported exceptional quarterly results driven by the explosive growth of its cloud infrastructure business. The company’s strong performance, buoyed by major AI-related deals and enterprise contracts, triggered a surge of more than 40% in its stock during early trading.

Ellison’s total wealth now stands at nearly US$393 billion, according to global billionaire indexes, pushing him slightly ahead of Musk, who had held the top spot for most of the past year. Musk’s net worth dipped following recent fluctuations in Tesla’s stock price, giving Ellison the edge in what has become a closely watched competition among the world’s wealthiest.

Oracle’s latest earnings highlighted rapid expansion in its cloud and AI infrastructure business, including significant multiyear agreements that drove its Remaining Performance Obligations to record levels. Analysts say the company’s strategy to focus on artificial intelligence workloads is paying off, positioning Oracle as a major contender in the cloud market against rivals like Amazon Web Services and Microsoft Azure.

The development highlights the growing influence of AI-driven demand on technology valuations and billionaire rankings worldwide. While Musk remains a close second, Ellison’s rise underscores how quickly fortunes can change in today’s volatile tech-driven economy. Investors will be watching closely to see if Oracle can sustain this momentum in the coming quarters, as AI and cloud adoption continue to accelerate globally.