Elon Musk has been dethroned as the world’s wealthiest individual. The new king of the corporate castle is none other than Oracle co-founder Larry Ellison, a longstanding ally of US President Donald Trump. According to the latest data from the prestigious Bloomberg Billionaires Index, Ellison’s fortune catapulted to a staggering US$393 billion, finally eclipsing Musk’s US$385 billion holdings.
The seismic shift in wealth was triggered by an unprecedented surge in Oracle’s stock value, which skyrocketed by over 40% in a single day. This investor frenzy followed the database behemoth’s announcement of an extraordinarily optimistic forecast for its cloud infrastructure and artificial intelligence divisions, propelling Ellison’s company-tied wealth to stratospheric new heights.
Elon Musk Dethroned As World’s Richest Man By Trump Ally Larry Ellison
Ellison’s ascent to the pinnacle of wealth is no overnight success story but the culmination of a relentless five-decade grind. The 81-year-old magnate, who helped establish Oracle in 1977, has seen his fortunes rise in spectacular tandem with his company’s recent performance.
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Oracle’s Chief Executive, Safra Catz, revealed the driving force behind this growth, stating,
“We signed four multibillion-dollar contracts with customers in the last quarter and anticipate several more deals in the months ahead.”
The company’s quarterly earnings report painted a picture of explosive growth, projecting that revenue from its cloud business will leap by a remarkable 77% this year to US$18 billion. This surge is largely attributed to insatiable demand from AI companies for its data centre capabilities. Ellison, who served as CEO until 2014 and now acts as chairman and chief technology officer, has positioned himself at the very heart of this technological revolution.
Political Alliances and Media Ambitions
Ellison’s influence extends far beyond the server room. He has meticulously cultivated a powerful political identity, firmly establishing himself as a key ally to President Trump. His prominence was underscored in January when he stood alongside tech luminaries like OpenAI’s Sam Altman to announce ‘Stargate’, a major project aimed at building out AI infrastructure across the US.
His ambitions, however, are not confined to software and politics. Ellison is making bold moves into the media landscape. He was the primary funder of his son’s successful US$8 billion bid to acquire Paramount, the parent company of CBS and MTV, a deal which was finalised just last month.
Furthermore, Oracle is frequently cited as a potential buyer for the social media phenomenon TikTok, which faces a US ban unless it severs its ties to Chinese ownership. When questioned on the matter, President Trump himself weighed in, remarking,
“I’d like Larry to buy it, too.”
Meanwhile, Musk’s fortune has been dented by a challenging period for Tesla. The electric vehicle pioneer has been grappling with investor anxiety, fuelled by the Trump administration’s rollback of EV initiatives and consumer unease regarding Musk’s own political engagements. This has opened the door for Ellison’s stunning takeover of the top spot, marking a new chapter in the saga of the world’s ultra-rich.
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