Elon Musk is getting knocked down a peg.
Despite Elon Musk holding the position of the world’s wealthiest individual for most of the year, he has recently been dethroned by Larry Ellison, the co-founder of Oracle, who now boasts an estimated net worth of $393 billion, according to Bloomberg.
Oracle’s chief technology officer became wealthier than Elon Musk, as reported by various news outlets including Bloomberg and NBC News, surpassing Musk’s estimated net worth of $364 billion on September 10th around 10 a.m., according to Oracle’s quarterly results. By this time, the CTO’s net worth had risen above $400 billion.
Previously, Ellison, aged 81, ranked fourth among the world’s wealthiest individuals, with Mark Zuckerberg and Jeff Bezos occupying the top three spots, according to Forbes. Prior to the release of his company’s latest financial report, it was estimated that his net worth was approximately $192 billion.
On September 10, according to CNBC, Oracle experienced an unprecedented surge in its stock price since 1992, rising more than 40%. This substantial increase followed a remarkable earnings call on September 9 during which the company projected approximately $144 billion in cloud infrastructure revenue over the next four years. Much of this anticipated growth is attributed to the growing demand for artificial intelligence.
Most of Ellison’s substantial income stems from his significant ownership of Oracle, a company he helped establish and served as CEO for more than three decades. Although he relinquished the position of CEO in 2014, according to Forbes, he continues to hold the role of Chief Technology Officer.
Over the past few years, the tech billionaire has expanded his investments. More recently, he played a key role in the merger of Paramount and Skydance, an $8 billion deal that was spearheaded with his son David Ellison, a film producer who established Skydance Entertainment. Moreover, Forbes reports that he owns about 98% of the Hawaiian island Lana’i, which he bought for $300 million in 2012 and relocated to permanently in 2020.
Notably, Ellison isn’t new to tussles with Musk. These two tech titans, who share a friendly rapport, have had past encounters, particularly during Ellison’s tenure on Tesla’s board from 2018 until 2022. During this period, Musk held the positions of chairman (since 2004) and CEO (since 2008).
Over the past several months, Ellison’s fortune has been consistently growing. Not long ago, he made an uncommon announcement that he plans to devote more attention to his Ellison Institute of Technology, a business he established in 2016, with the mission of addressing some of the world’s most pressing problems.
On July 15, in a published statement, he expressed his conviction that these measures would enhance our ability to offer tangible solutions for addressing issues related to hunger, healthcare, and climate change.
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2025-09-10 19:49