Friday, 24 October 2025
Larry Ellison, co-founder and chairman of Oracle, has surpassed Tesla chief executive Elon Musk to become the world’s richest individual, according to Bloomberg’s Billionaires Index.
Ellison’s net worth rose sharply to around $393 billion after Oracle shares surged more than 40 percent following the company’s latest quarterly earnings release. Musk’s fortune is currently estimated at $385 billion, placing him second on the index. (Bloomberg Billionaires Index)
Oracle reported strong growth in demand for its cloud services, particularly from companies in artificial intelligence. The firm said it expects Oracle Cloud Infrastructure revenue to reach $78 billion in the current fiscal year and to more than double to $144 billion by 2030. Chief executive Safra Catz highlighted new contracts with major AI companies including OpenAI, xAI, Nvidia, Meta and AMD.
Ellison, 81, owns about 41 percent of Oracle. He founded the company in 1977 and served as chief executive until 2014. He now holds the roles of chairman and chief technology officer.
Ellison is known for his investments in real estate, yachts, aviation, and his ownership of most of the Hawaiian island of Lanai.
Musk, 54, remains Tesla’s largest shareholder, but the company’s stock has struggled in 2025 amid weaker sales, growing competition, and criticism of Musk’s political activities.
Source: Bloomberg’s Billionaires Index
