TECH
Oracle had its best day since ’92
Larry Ellison briefly became the world’s richest person on Wednesday after a sharp rise in Oracle’s share price boosted his fortune.
His wealth grew by $89 billion in a single day, taking his net worth to $383.2 billion, according to the Bloomberg Billionaires Index.
It was the biggest one-day gain ever recorded and put him ahead of Elon Musk for most of the day, until the Tesla CEO regained the top spot by $1 billion.
Oracle’s stock jumped 36% after the company reported quarterly results that beat expectations and predicted more growth in its cloud business.
Here’s what you should know:
Ellison’s fortune rose $89bn in one day, hitting $383.2bn
Oracle stock surged 36%, its biggest single-day rise since 1992
Tesla shares are down 14% this year, though Musk could still reach trillionaire status
Billionaire shuffle
It was the company’s largest single-day rise since 1992 and also added $97 million to CEO Safra Catz’s net worth.
Oracle shares are now up 45% this year.
Tesla’s shares, meanwhile, are down 14% in 2025. Musk, who first became the world’s richest person in 2021 before briefly losing the title to Jeff Bezos and Bernard Arnault, has held it again for over 300 days.
A proposed new pay package could still make him the world’s first trillionaire if he hits a set of major goals.
Just billionaire things.