Oracle co-founder "lightning" won the title of world's richest person

Billionaire Elon Musk has lost the title of " world's richest person" to the co-founder of software company Oracle, Larry Ellison. According to Bloomberg, Mr. Ellison's asset value suddenly increased to 101 billion USD, before stabilizing at an increase of about 89 billion USD, to 383.2 billion USD on September 10, after Oracle announced its impressive profit report on the evening of September 9.

Oracle reported a surge in demand for its data centers from AI customers, sending its stock to new highs. Oracle shares jumped as much as 43%, before closing up about 36% on September 10. This was the stock’s biggest one-day gain since 1992.

Oracle's stock price hit a record high on September 10, boosting Oracle's market value by $244 billion to about $922 billion. Oracle jumped from the 13th most valuable company in the S&P 500 index to 10th place, surpassing Eli Lilly, Walmart and JPMorgan Chase in market value.

Ellison is Oracle’s largest individual shareholder. His net worth surged past Musk’s, making him the world’s richest person for a few hours on September 10. However, Musk’s net worth was $384.2 billion at market close, $1 billion more than Ellison’s.

Oracle has emerged as a key infrastructure provider to meet the huge demand for computing power from AI companies. In July 2025, Oracle announced a deal to provide 4.5 gigawatts of data center capacity to ChatGPT’s parent company, OpenAI, to run its AI software. As the AI boom accelerates, Oracle’s stock price has risen 97% this year, while Tesla’s stock price has fallen about 14%.

Mr. Musk first took the title of “world’s richest person” in 2021 and has largely held onto it for the past few years, thanks in part to investments in Tesla and SpaceX. He has lost the title twice in the past few years, first in 2021 to LVMH CEO Bernard Arnault and in 2024 to Amazon founder Jeff Bezos.

For Mr. Ellison, his path to becoming one of the world's richest people began in 1977, when he dropped out of college and helped found Oracle. The 81-year-old billionaire owns 98% of the Hawaiian island of Lana'i and is credited with reviving the Indian Wells tennis tournament in California, earning it the nickname "the fifth Grand Slam."

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Source: https://www.vietnamplus.vn/nha-dong-sang-lap-oracle-chop-nhoang-gianh-ngoi-vi-nguoi-giau-nhat-the-gioi-post1061179.vnp