Elon Musk’s Throne Shaken: The Surprising Rival Who Snatched the World’s Richest Crown—But Only for Hours!
Ever wondered what it feels like to leapfrog a titan like Elon Musk — even if just for a fleeting moment? Well, Larry Ellison, the Oracle co-founder, just did exactly that, briefly snagging the crown as the world’s richest person at the ripe young age of 81. His net worth skyrocketed by an eye-popping $89 billion in a single day — the biggest one-day surge on record! But hold onto your hats—it turns out wealth races can be as fast-paced as a SpaceX rocket launch. Musk reclaimed his throne by day’s end, edging ahead by a mere billion dollars. What’s behind Ellison’s meteoric rise? A shocking earnings report from Oracle that left Wall Street speechless and boosted contracts into the multi-billion-dollar stratosphere. It’s a wealth battle for the ages — and a potent reminder that even the stalwarts of tech can surprise us all. Curious to dive deeper into this money shuffle and what it means for the tech giants? LEARN MORE
This week, Oracle founder Larry Ellison, 81, became the world’s richest person, albeit briefly, overtaking Tesla and SpaceX CEO Elon Musk. Ellison’s wealth grew by $89 billion, reaching $383.2 billion on Wednesday, the largest one-day jump in history, per Bloomberg. It was his first time in the No. 1 spot.
It was short-lived. By the end of the day on Wednesday, Musk, 54, had re-taken the top spot again, this time by only $1 billion.
Related: Meet David Ellison, Larry Ellison’s Son Who Took Over at Paramount
Ellison’s wealth grew due to Oracle’s strong earnings report on Tuesday, which had Wall Street “shocked.” The earnings statement showed that in the first quarter of the year alone, Oracle had signed four multi-billion-dollar contracts.
“It was an astonishing quarter,” said Oracle CEO Safra Catz.
Musk, meanwhile, has been in the top spot off and on since 2021 and had been perched there for the last 300 days before Ellison took over for most of the day Wednesday.
At press time, Musk is sitting on a total net worth of $384 billion, while Ellison is at $383 billion, per the Bloomberg Billionaire Index.
Related: These Luxury Yachts Are Owned By Some of the Wealthiest People in Tech
This week, Oracle founder Larry Ellison, 81, became the world’s richest person, albeit briefly, overtaking Tesla and SpaceX CEO Elon Musk. Ellison’s wealth grew by $89 billion, reaching $383.2 billion on Wednesday, the largest one-day jump in history, per Bloomberg. It was his first time in the No. 1 spot.
It was short-lived. By the end of the day on Wednesday, Musk, 54, had re-taken the top spot again, this time by only $1 billion.
Related: Meet David Ellison, Larry Ellison’s Son Who Took Over at Paramount
The rest of this article is locked.
Join Entrepreneur+ today for access.
Post Comment