Tesla CEO Elon Musk has been dethroned as the richest man in the world by Larry Ellison, founder of Oracle Corporation. On Wednesday, as stock in Ellison’s software giant rocketed more than a third in a stunning few minutes of trading, Ellison’s net worth surpassed the Tesla CEO, according to wealth tracker Bloomberg. As of 3 p.m. in New York, Oracle stock is up 34.4 percent for the day.
Larry Ellison, born in 1944 in New York City, is a pioneering tech entrepreneur and co-founder of Oracle Corporation. Raised by his aunt and uncle in Chicago, Ellison attended the University of Illinois and the University of Chicago but did not graduate. In 1977, he co-founded Oracle with Bob Miner and Ed Oates, focusing on developing one of the first commercial relational database systems.
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Known for his bold leadership and competitive drive, Ellison served as Oracle’s CEO until 2014 and now holds the roles of Executive Chairman and Chief Technology Officer. As of September 2025, Ellison’s net worth is approximately $405 billion, surpassing Elon Musk to become the world’s richest person. This surge is attributed to Oracle’s significant stock price increase following a strong earnings report and the announcement of major cloud contracts.
Oracle Corporation began in 1977 as Software Development Laboratories and was renamed Oracle in 1983. The company gained early prominence with the release of Oracle Database in 1979, a pioneering relational database management system. Oracle went public in 1986 and expanded rapidly through innovation and aggressive acquisitions such as PeopleSoft, Siebel, BEA Systems, and Sun Microsystems. Today, Oracle is a leading provider of enterprise software and cloud computing services, offering critical technology solutions across various industries worldwide.
In 2025, Oracle’s growth accelerated with strategic investments in artificial intelligence and cloud infrastructure. The company secured a multi-year, high-value cloud partnership with OpenAI, reportedly worth up to $300 billion, reflecting a major shift towards AI-driven cloud services. This partnership helped boost Oracle’s stock and contributed significantly to Ellison’s wealth.
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While Oracle continues to compete with larger cloud providers like Amazon Web Services and Microsoft Azure, its focus on AI and enterprise solutions positions it strongly for the future. Under Ellison’s ongoing leadership, Oracle remains an influential player shaping enterprise technology and innovation.
According to Bloomberg, Ellison, 81, is now worth $393 billion, that is several billion more than Musk, who had been the world’s richest person for four years running.
Ellison’s rise to become the world’s richest person highlights the shifting landscape of technology and enterprise innovation. Oracle’s remarkable growth, driven by strategic investments in artificial intelligence and cloud computing, reflects the increasing importance of these sectors in the global economy. The company’s substantial partnership with OpenAI underscores its commitment to leading the AI revolution, positioning Oracle as a key player amid fierce competition from other tech giants like Amazon and Microsoft.