Larry Ellison Rises: Oracle CEO Overtakes Musk as World’s Richest

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Larry Ellison is now the world’s richest person, surpassing Elon Musk.

Wealth: Ellison’s wealth reached $393 billion (£290bn) on Wednesday, while Musk’s is at $385 billion (£284bn).
Reason: Oracle’s stock price surged over 40%‍ due to a positive outlook for its cloud infrastructure and AI deals, boosting Ellison’s net worth (which ⁤is largely tied to Oracle).
* Musk’s Situation: musk had been the world’s richest person for almost a year, but⁢ tesla’s stock has declined this year. He could potentially receive⁣ a ⁢$1 ‍trillion‍ pay package if he meets certain targets.