Elon Musk's reign as world's richest man ends as Larry Ellison takes over

The Oracle co-founder Larry Ellison has overtaken Elon Musk to become the world’s richest person, ending Musk’s nearly year-long dominance

Ellison’s net worth surged by $101 billion (about KSh 13 trillion) in a single day after Oracle reported strong quarterly results

Oracle’s stock price soared 40% on investor confidence in its aggressive expansion into artificial intelligence and cloud computing. Ellison has ended Musk’s nearly year-long dominance at the top of the Bloomberg Billionaires Index.

How did Ellison rise over Musk?

Ellison’s fortune surged by an astonishing $101 billion (about KSh 13 trillion) in a single day after Oracle Corp. announced quarterly results that exceeded Wall Street expectations and delivered an optimistic long-term revenue forecast.

The jump represents the sharpest one-day wealth gain ever recorded by the index.

Oracle CEO Safra Catz described the just-ended quarter as “astonishing,” noting the company had secured four multi-billion-dollar contracts with three different customers.

He projected that its cloud business revenues would grow 77% this fiscal year to $18 billion and further rise to $32 billion, $73 billion, $114 billion, and $144 billion in subsequent years.

This sparked a rally in its stock prices.

How rich is Ellison? 

As of September 10, 2025, Ellison’s net worth now stands at $393 billion, eclipsing Musk’s $385 billion.

The surge came after Oracle’s stock price soared 40% on investor confidence in the company’s aggressive push into artificial intelligence (AI) and cloud computing.

What isElon Musk's compensation package? 

In other news, Tesla recently awarded CEO Elon Musk a massive $29 billion (about KSh 3.7 trillion) compensation package in the form of 96 million restricted stock shares.

The board defended the decision, noting that Musk has not received “meaningful compensation” for eight years despite delivering extraordinary growth and shareholder value.

Tesla shares rose over 2% after the announcement, underscoring investor confidence in Musk’s leadership.

Tesla continues its global expansion, including a new African subsidiary in Morocco to support sales, servicing, and charging infrastructure.