Oracle co-founder "lightning" to become the richest person in the world

Billionaire Elon Musk has lost the title of " world's richest person" to Oracle co-founder Larry Ellison. According to Bloomberg, Ellison's assets suddenly increased by $101 billion, before stabilizing at an increase of about $89 billion, to $383.2 billion on September 10, after Oracle announced its impressive profit report on the evening of September 9.

Oracle reported a surge in demand for its data centers from AI customers, sending its stock to new highs. Oracle shares jumped as much as 43%, before closing up about 36% on Sept. 10. That was the stock’s biggest one-day gain since 1992.

Oracle shares hit a record high on Sept. 10, boosting its market value by $244 billion to about $922 billion. Oracle jumped from the 13th most valuable company in the S&P 500 to the 10th most valuable, surpassing Eli Lilly, Walmart and JPMorgan Chase.

Ellison is Oracle’s largest individual shareholder. His net worth surged past Musk’s, making him the world’s richest person for a few hours on September 10. However, Musk’s net worth was $384.2 billion at market close, $1 billion more than Ellison’s.

Oracle has emerged as a key infrastructure provider to meet the massive demand for computing power from AI companies. In July 2025, Oracle announced a deal to provide 4.5 gigawatts of data center capacity to ChatGPT parent OpenAI to run its AI software. As the AI boom accelerates, Oracle’s stock price has risen 97% this year, while Tesla’s stock price has fallen about 14%.

Mr Musk first took the title of “world’s richest person” in 2021 and has largely held onto the title over the past few years, thanks in part to his investments in Tesla and SpaceX. He has lost the title twice in the past few years, first in 2021 to LVMH CEO Bernard Arnault and in 2024 to Amazon founder Jeff Bezos.

For Mr. Ellison, his path to becoming one of the world's richest people began in 1977, when he dropped out of college and helped found Oracle. The 81-year-old billionaire owns 98% of the Hawaiian island of Lana'i and is credited with reviving the Indian Wells tennis tournament in California, earning the tournament the nickname "the fifth Grand Slam."

(Vietnam+)

Source: https://www.vietnamplus.vn/nha-dong-sang-lap-oracle-chop-nhoang-gianh-ngoi-vi-nguoi-giau-nhat-the-gioi-post1061179.vnp