Oracle’s Ellison tops Musk as world’s richest man after $101 billion gain

By Anders Melin Bloomberg Larry Ellison has become the world s richest person for the first time ending Elon Musk s nearly year-long reign in the top spot Ellison s fortune soared billion as of a m in New York after Oracle Corp announced quarterly results that surpassed expectations and revealed there s more enhancement to come Also see Oracle Salesforce slash hundreds of Bay Area jobs Related Articles Musk s SpaceX to buy EchoStar Spectrum for billion Tesla offers unprecedented trillion pay package to Musk Tesla says its robotaxi app now open to population riders Tesla will derive of its value from Optimus Robot Musk says Tesla asks court to throw out big damage award in crash by arguing comments about Musk misled jury The increase lifted his total fortune to billion ahead of Musk who sits at billion according to the Bloomberg Billionaires Index It s the biggest one-day increase ever recorded by the index Musk became the world s richest person for the first time in before losing the title to Amazon com Inc s Jeff Bezos and LVMH s Bernard Arnault He reclaimed it last year and had held it for just over days Ellison who co-founded Oracle and is now chairman and chief equipment officer has the bulk of his net worth tied up in the database platform company Oracle s shares which had already gained this year through Tuesday s close soared Wednesday after the company posted a major increase in bookings and gave an aggressive outlook for its cloud infrastructure business It s the company s largest single-day surge ever Shares of Tesla by contrast are down this year The company s board has proposed a massive pay package for Musk that if he succeeds in meeting a series of ambitious targets could make him the world s first trillionaire