NextFin news, Larry Ellison, co-founder and CTO of Oracle Corporation, came closer to overtaking Elon Musk as the world's richest person on this Wednesday in New York. This development followed a significant surge in Oracle's stock price after the company reported a blockbuster earnings forecast driven by artificial intelligence (AI) growth.
The surge in Oracle shares added approximately $70 billion to Ellison's net worth, tightening the race for the top spot in global wealth rankings. Oracle's strong performance and optimistic AI forecast stunned Wall Street, leading to a sharp increase in its market valuation.
Elon Musk, CEO of Tesla and SpaceX, has held the title of the world's richest person for some time, but the recent gains by Ellison have narrowed the wealth gap considerably. The exact figures of their net worths fluctuate with market changes, but Ellison's wealth boost was directly linked to Oracle's stock performance on the New York Stock Exchange.
The event took place on this Wednesday, September 10, 2025, in New York, where Oracle is headquartered and its shares are traded. The surge reflects investor confidence in Oracle's AI strategy and its potential to drive future growth.
Sources reporting on this development include The Sydney Morning Herald, Seeking Alpha, Finance Magnates, and NDTV Profit, all confirming the timing and financial details of the wealth surge and stock market reaction.
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