Elon Musk was surpassed

Oracle co-founder Larry Ellison overtook Elon Musk to become the world's richest person with a fortune of $393 billion on the night of September 10.

Billionaire Larry Ellison holds the title of world's richest person for the first time at the age of 81. Photo: Reuters .

Oracle co-founder Larry Ellison has become the world's richest person for the first time, surpassing Elon Musk after his personal fortune soared by $101 billion in a single trading day on September 9, US time.

The event comes after Oracle Corporation reported quarterly results that exceeded analysts' expectations. The company also gave a positive forecast for future growth prospects.

Ellison’s fortune reached $393 billion as of 10:10 a.m. ET, surpassing Elon Musk’s $385 billion fortune, according to the Bloomberg Billionaires Index , the biggest one-day gain ever recorded by the index.

Elon Musk previously held the title of world's richest person for more than 300 days. The Tesla CEO first became the world's richest person in 2021 before losing the title to Amazon's Jeff Bezos and LVMH's Bernard Arnault. Musk regained the title last year.

Ellison, 81, is currently chairman and chief technology officer of Oracle. The majority of his net worth is tied to the database software company.

Oracle shares had risen 45% this year through Tuesday's close. They jumped another 41% on Tuesday. "We've seen a significant increase in orders," Oracle said.

The company also gave a positive outlook for its cloud infrastructure business, marking Oracle’s biggest one-day gain ever.

By contrast, Elon Musk's Tesla shares have fallen 13% this year. Tesla's board has proposed a huge compensation package for Musk. If he achieves his ambitious goals, Musk could become the world's first billionaire worth more than $1 trillion .

Source: https://znews.vn/elon-musk-bi-vuot-mat-post1584231.html