Tech billionaire Larry Ellison, the co-founder of Oracle, has now become the richest person in the world, taking the title from Elon Musk. This happened after Oracle’s stock price rose sharply due to the fast-growing demand for artificial intelligence services.
According to the Bloomberg Billionaires Index, Ellison’s fortune increased to about $393 billion, while Musk’s dropped to around $385 billion. Oracle’s strong performance is the main reason for this change. The company recently announced much better-than-expected financial results and predicted even more growth in its cloud computing business, which powers AI companies such as OpenAI, the creator of ChatGPT.
Oracle first became well known for making databases, systems that help big companies safely store and manage large amounts of information. Over the years, however, the company shifted its focus. Instead of only making databases, Oracle began investing heavily in cloud computing, which means running large data centers that businesses can rent to get computing power, storage, and networking. This decision turned out to be very successful. AI firms like OpenAI need powerful computers to train and run their models, and instead of building their own expensive data centers, they often use Oracle’s services. The growing demand for AI has pushed Oracle’s stock higher, which has greatly increased Ellison’s wealth.
Ellison started Oracle in 1977 with Bob Miner and Ed Oates. At first, it was called Software Development Laboratories. One of their earliest contracts was with the CIA, and that work led to the creation of a database program called Oracle. This program made the company widely known. By the late 1980s, Oracle had become the world’s largest database company. Over time, it grew even more by buying other big companies such as PeopleSoft, Sun Microsystems, and NetSuite.
Now at 81 years old, Ellison has played a central role in Oracle’s growth. He served as CEO for nearly forty years before stepping down in 2014, though he still remains deeply involved as executive chairman and chief technology officer. Under his guidance, Oracle moved aggressively into cloud computing and artificial intelligence infrastructure. Earlier this year, the company announced its massive $500 billion Stargate project, which will build huge data centers designed specifically for AI.
Outside of business, Ellison is known for his wide-ranging interests. He owns almost all of the Hawaiian island of Lanai, where he has funded various developments. He has invested heavily in sports, particularly sailing, where his team Oracle Team USA won the America’s Cup, and he also helped create the SailGP league. In tennis, he revitalized the Indian Wells tournament in California, turning it into one of the most important competitions after the Grand Slams.
He is also active in politics, often donating large sums to Republican campaigns. His political involvement has kept him close to Washington, and in recent years, he has taken part in meetings with top technology leaders and government officials about the future of AI.
Ellison has also expanded into the entertainment industry. In 2025, he purchased nearly half of Paramount Skydance, a $28 billion media company run by his son David Ellison. His family has deep Hollywood ties, his daughter Megan Ellison has produced highly acclaimed films such as Zero Dark Thirty and American Hustle, while his son David has produced blockbuster hits like The Terminator and Mission: Impossible.
While Tesla’s stock has struggled this year, pulling Musk’s wealth down, Oracle’s transformation into a major player in artificial intelligence has pushed Ellison to the very top. For the first time in his long career, he now holds the title of the world’s richest person.
