On 10/9, Bloomberg estimated Larry Ellison's net worth at $383.2 billion following Oracle's better-than-expected earnings report. Oracle's stock price soared by as much as 43%, its largest single-day gain since 1992, before closing at around 36% higher.

Ellison, Oracle's largest individual shareholder, saw his net worth briefly increase by $110 billion, marking what Bloomberg called "the highest single-day gain on record." This temporarily placed Ellison as the world's richest person, surpassing Elon Musk.

Billionaire Elon Musk at the Oval Office in the White House on 30/5. Photo: *AFP*

However, by the end of the trading day, Ellison's total assets had increased by $89 billion. Meanwhile, Musk's net worth stood at $384.2 billion, approximately $1 billion more than Ellison's.

Oracle's stock surge followed the announcement of four billion-dollar contracts and the expectation of more in the coming quarter. The company is emerging as a key computing infrastructure provider for the artificial intelligence (AI) industry, notably through its agreement to supply 4.5 gigawatts of power to OpenAI, the company behind ChatGPT.

Billionaire Larry Ellison speaking at the White House on 21/1. Photo: *AFP*

Oracle's stock has risen 97% since the beginning of the year, prompting many analysts to upgrade their buy recommendations. While Tesla's stock has declined by about 14% this year, Musk maintains his position as the world's richest person due to his substantial investments in Tesla and SpaceX.

Musk previously lost the top spot twice, to LVMH's Bernard Arnault in 2021 and Amazon's Jeff Bezos in 2024, but quickly regained it both times. He also has a compensation package approved by Tesla that could be worth nearly $1 trillion if the company reaches certain milestones.

The 81-year-old Ellison, who founded Oracle in 1977 after dropping out of college, owns 98% of Lana'i island in Hawaii. He is known for reviving the Indian Wells tennis tournament, his close relationship with former US President Donald Trump, and was once considered a potential buyer for TikTok.

Thanh Danh (*CNN, BBC, MSNBC*)