Business Desk 
Sep 10, 2025
Elon Musk is no longer the world's richest man, losing his position as the world's richest man to Oracle co-founder Larry Ellison.
Why is Elon Musk no longer the world's richest person?
As per a Bloomberg report, Oracle's impressive earnings report revealed that Ellison's net worth skyrocketed by $101 billion to reach $393bn, surpassing Musk's $385bn fortune, a move which has shocked the sphere of the world's ultra-wealthy individuals.
The dramatic surge comes on the heels of Oracle witnessing a surge in its data centre capacity demand, particularly driven by AI customers.
It was also highlighted in the Bloomberg report that Oracle’s shares rose by 41% on Wednesday, marking the company’s largest single-day gain since 1992.
Analyst Ben Reitzes described Oracle’s earnings as extraordinary, noting a staggering $455bn backlog for its AI services.
Oracle CEO Safra Catz revealed that the company secured four multibillion-dollar contracts during the quarter and is expecting more in the near future.
This massive performance uptick suggests Oracle's vital role in providing the infrastructure needed for AI companies that heavily rely on computing power.
It must also be noted that Oracle recently announced a deal to supply ChatGPT’s parent company, OpenAI, with 4.5 gigawatts of electricity.
As Oracle closes on a market value of $1 trillion, Ellison, who is the largest individual shareholder, is expected to reclaim the title of the world’s richest person if the stock continues its upward trajectory.
