Billionaire Elon Musk, was dethroned from his position as world's richest person by Larry Ellison after holding that title for just over 300 days.
The chief executive officer of Tesla, and founder and CEO of SpaceX, xAI and the founder of the Boring Company and X Corp. was unable to hold on to the position and lost it to Ellison, the co-founder of Oracle Corp.
The firm specialises in database software and cloud computing. Ellison also serves as chief technology officer and executive chairman of the company.
Musk first took the title of the world's wealthiest person in 2021, after which he lost the title to Amazon's Jeff Bezos and LVMH's Bernard Arnault. He again became the richest person in 2024.
His net worth currently sits at $385 billion which is $8 billion shy of Ellison's $393 billion. According to Bloomberg, the latter's wealth increased by $101 billion after Oracle's stock skyrocketed, following the company's stronger-than-expected quarterly results.
This led to the 81-year old shooting to top of Bloomberg's Billionaire Index, with the largest one day increase that the index has ever recorded. Most of Ellison's net worth is credited to his 40% stake in Oracle, according to Bloomberg.
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