National News (12th September 2025): In a dramatic shift on Wednesday, Oracle co-founder Larry Ellison briefly became the world’s richest person after a historic surge in Oracle’s stock sent his fortune soaring. However, the crown was short-lived as Elon Musk edged past him by the end of the trading session.
According to Bloomberg’s Billionaires Index, Ellison’s wealth ballooned by nearly $90 billion in a single day, reaching an estimated $383.2 billion. At one point, his gains topped $101 billion — the largest one-day increase ever recorded in the index’s history. For several hours, that was enough to place him ahead of Musk, who has dominated the wealth rankings for most of the past four years.
The windfall came after Oracle reported better-than-expected earnings and revealed a booming pipeline for its artificial intelligence cloud services. Investors reacted swiftly, sending the company’s stock up as much as 43% during the session before closing 36% higher — Oracle’s biggest single-day leap since 1992. The rally lifted Oracle’s market value by about $244 billion, pushing the company’s capitalization to roughly $922 billion and elevating it into the top 10 most valuable firms in the S&P 500.
Ellison, Oracle’s largest individual shareholder, saw his personal net worth skyrocket as a result. But by the closing bell, Musk regained the number-one spot with a fortune of $384.2 billion, about $1 billion ahead of Ellison.
Musk, who first became the world’s richest person in 2021, has occasionally ceded the title to rivals such as Bernard Arnault of LVMH and Amazon founder Jeff Bezos. Still, he has maintained his lead for most of the past year, now extending his streak to more than 300 days.
The surge in Ellison’s wealth underscores the rising influence of artificial intelligence in global markets. Oracle disclosed that it now has more than $450 billion in contracted cloud-service commitments, many tied to major AI players including Nvidia and OpenAI, the backer of ChatGPT. The company expects that backlog to surpass half a trillion dollars in the near future, with more multibillion-dollar contracts already under discussion.
Beyond technology, the Ellison family has also been expanding its footprint in media and entertainment. Just weeks ago, Ellison’s son, David Ellison, finalized an $8 billion deal to acquire Paramount Global, the parent company of CBS and MTV. The purchase was partly financed through a $6 billion injection from the Ellison family’s fortune, further intertwining the dynasty with Hollywood and American media.
Trailing Musk and Ellison in Bloomberg’s billionaire rankings are Meta CEO Mark Zuckerberg, Amazon’s Jeff Bezos, and Google co-founders Larry Page and Sergey Brin — all of whom have also seen their fortunes swell amid the AI boom.
The rapid reshuffling at the top of the wealth ladder highlights how pivotal artificial intelligence has become, not just for the technology sector, but for global capital markets and the fortunes of the world’s most powerful billionaires.
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