{"id":2874,"date":"2025-09-11T11:17:52","date_gmt":"2025-09-11T11:17:52","guid":{"rendered":"https:\/\/menamagazine.com\/?p=2874"},"modified":"2025-09-11T11:17:52","modified_gmt":"2025-09-11T11:17:52","slug":"larry-ellison-briefly-becomes-worlds-richest-person","status":"publish","type":"post","link":"https:\/\/themena.com\/index.php\/2025\/09\/11\/larry-ellison-briefly-becomes-worlds-richest-person\/","title":{"rendered":"Larry Ellison briefly becomes world’s richest person"},"content":{"rendered":"\n

Elon Musk briefly lost his title as the world’s richest person to Larry Ellison, the co-founder of Oracle and an ally of US President Donald Trump.<\/strong><\/p>\n\n\n\n

Ellison’s wealth surged to $393bn (\u00a3290bn) on Wednesday morning, surpassing Musk’s $385bn (\u00a3284bn), according to the Bloomberg Billionaires Index.<\/p>\n\n\n\n

The jump came after shares in Oracle, which make up a significant part of Ellison’s fortune, soared more than 40%, boosted by the database software company’s surprisingly rosy outlook for its cloud infrastructure business and artificial intelligence (AI) deals.<\/p>\n\n\n\n

But the firm’s share price had shed some of those gains by the end of the day, putting Musk back on top.<\/p>\n\n\n\n

Before briefly losing it to Ellison, Musk had held the title of world’s richest person for nearly one year.<\/p>\n\n\n\n

He could receive a pay package worth over $1tn<\/a> (\u00a3740bn) if he hits a list of ambitious targets over the next decade, the board of the electric car firm has proposed.<\/p>\n\n\n\n

But shares in Musk’s most valuable business, Tesla, have fallen this year.<\/p>\n\n\n\n

The electric vehicle maker has grappled with investor jitters over the Trump administration’s rollback of electric vehicle initiatives, on top of consumer backlash to Musk’s political involvement.<\/p>\n\n\n\n

Oracle has recently been propelled by growing demand for data centre infrastructure.<\/p>\n\n\n\n

The company projected as part of its quarterly earnings report on Tuesday that revenue from its cloud business will jump 77% this year, to $18bn, with further growth expected in the coming years.<\/p>\n\n\n\n

Oracle has reported a surge in demand among AI companies for its data centres, which helped push its stock dramatically higher.<\/p>\n\n\n\n

It signed four multibillion-dollar contracts with customers in the last quarter and anticipates several more deals in the months ahead, chief executive Safra Catz said on Tuesday.<\/p>\n\n\n\n

Trump ties and media ambitions<\/h2>\n\n\n\n

Ellison, 81, helped start Oracle in 1977 and rose to prominence in the 1990s, when he became a public figure known as much for his lavish lifestyle as for the database company behind his fortune.<\/p>\n\n\n\n

He was Oracle’s chief executive until 2014 and is now the company’s chairman and chief technology officer.<\/p>\n\n\n\n

And he has positioned himself as an ally to President Trump.<\/p>\n\n\n\n

When Trump returned to the White House in January, Ellison appeared alongside OpenAI’s Sam Altman and SoftBank’s Masayoshi Son to announce a project called Stargate, to build out AI infrastructure in the US.<\/p>\n\n\n\n

Oracle has also emerged as a possible buyer of TikTok, the app owned by the Chinese internet company ByteDance. TikTok is facing a ban in the US unless it divests itself of its ByteDance ownership.<\/p>\n\n\n\n

In January, when asked whether he was open to Musk buying TikTok, Trump responded: “I’d like Larry to buy it, too.”<\/p>\n\n\n\n

Ellison’s media ambitions extend beyond TikTok.<\/p>\n\n\n\n

He funded the bulk of a $8bn bid by his son to acquire Paramount, which owns CBS and MTV.<\/p>\n\n\n\n

That deal between Paramount and the media company Skydance, which is controlled by his son David, closed last month.<\/p>\n","protected":false},"excerpt":{"rendered":"

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