Larry Ellison has officially become the wealthiest person on the planet, overtaking Elon Musk after Oracle’s strong quarterly performance. The tech giant exceeded analyst expectations, and Ellison’s fortune jumped by $101 billion in a single day—marking the largest single-day gain ever recorded by Bloomberg’s list. His total net worth now stands at $393 billion, compared to Musk’s $385 billion, according to the Bloomberg Billionaires Index.
Ellison’s wealth also stems from a vast real estate portfolio, luxury vehicles, and yachts. The 81-year-old Oracle cofounder has climbed steadily up the list over the past year, while Musk’s trajectory appears to be flattening. Tesla, the cornerstone of Musk’s empire, is facing serious demand issues and waning enthusiasm around its once-hyped products.
Tesla Stumbles as Cybertruck Falls Short
Sales for Tesla dipped in 2024 for the first time, signaling a turning point. Musk had promised 250,000 Cybertrucks a year, but the actual sales are tracking at barely one-tenth of that. The market’s cool reaction has raised questions about the company’s future growth.
Though Musk held the No. 1 position for nearly 300 days, he now joins the ranks of former titleholders like Jeff Bezos and Bernard Arnault, who currently sit at fourth and eighth, respectively. Mark Zuckerberg and Larry Page also remain in the top tier, with fortunes over $200 billion.
Musk Eyes a Comeback Through Tesla Pay Package
Despite losing the top spot, Musk may not stay behind for long. A new compensation plan from Tesla could pay him $900 million if he hits specific performance milestones. As reported by The New York Times, the ambitious payout could make Musk the world’s first trillionaire. Whether that happens depends on Tesla’s ability to reignite investor and consumer confidence.
Ellison’s lead, while historic, may prove temporary. Still, for now, he enjoys the pinnacle of personal wealth in a year that has reshaped the upper ranks of global billionaires.
