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Larry Ellison, the founder and CEO of tech giant Oracle, has been named the world's richest person, dethroning Tesla and SpaceX chief Elon Musk. According to the latest data from wealth indexes, such as the Bloomberg Billionaires Index, Ellison's fortune has surpassed Musk's, marking a historic milestone on the global billionaires list.
Ellison's rise in wealth comes largely from the exceptional performance of Oracle shares, which have seen a significant increase in recent months.
According to the Bloomberg Billionaires Index, Ellison's net worth increased by $101 billion in just one day, reaching a staggering $393 billion in total.
This increase in Ellison's wealth has been driven by a boom in Oracle shares, which rose as much as 41% on Wednesday, hitting intraday records.
Oracle, one of the global leaders in data management software, has benefited from the growing demand for digital services, driving the company's value to new heights.
At the same time, Elon Musk now ranks second with a fortune of $385 billion, according to Bloomberg data.
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