Billionaire Elon Musk may soon lose his long-standing position as the world’s wealthiest individual. Oracle co-founder Larry Ellison, 81, has seen his fortune surge due to his company’s explosive growth in artificial intelligence (AI) contracts, potentially catapulting him ahead of Musk in the global wealth rankings.
Ellison’s Wealth Soars with Oracle’s Market Rally
Ellison’s net worth jumped by nearly $95 billion in a single day after Oracle shares surged on news of massive revenue forecasts tied to AI partnerships. His overall wealth now sits close to $390 billion, compared with Musk’s estimated $436 billion, according to Forbes’ real-time billionaire index.
Bloomberg’s wealth index, however, briefly placed Ellison ahead of Musk, highlighting how different methods of calculating vast stock holdings can influence rankings. Regardless, Ellison is now closer than ever to overtaking Musk, marking a major shift in the global billionaire hierarchy.
Oracle’s AI Breakthroughs
The surge in Oracle’s valuation comes after the company revealed multiple multi-billion-dollar contracts. CEO Safra Catz described the latest quarter as “astonishing,” noting four massive deals signed with three different customers.
A large portion of this growth is tied to an estimated $300 billion agreement with OpenAI to provide computing power over the next five years. The deal, reported by the Wall Street Journal, positions Oracle as a major force in the AI infrastructure space.
Oracle projected cloud revenues to rise dramatically, from $18 billion this fiscal year to $144 billion in just a few years. Such figures reflect not only the size of the OpenAI contract but also the accelerating adoption of AI technologies across industries.
A Risky Gamble
Despite the optimism, analysts have called Oracle’s deal with OpenAI a risky bet. The contract may require Oracle to take on additional debt to secure enough AI chips, binding the company’s growth to the fortunes of a single partner.
Ellison, however, expressed confidence during a recent conference call, stressing Oracle’s advantage in “AI inferencing.” He described a future where AI automates a wide range of processes, from medical assessments to financial predictions, transforming both industries and Oracle’s traditional role in secure data management.
Musk Faces Challenges at Tesla
While Ellison’s star rises, Musk’s wealth has been weighed down by Tesla’s performance. Shares of the electric car company have slipped in 2025 due to sluggish sales, with some attributing the downturn to Musk’s polarizing political views.
Tesla recently announced a compensation proposal for Musk that could surpass $1 trillion by 2035 if the company meets ambitious performance targets. Shareholders are set to vote on the package in November, a decision that could significantly influence Musk’s future wealth.
A History of Friendship and Rivalry
Interestingly, Musk and Ellison share more than just positions on the billionaire leaderboard. The two men are close friends, with Ellison investing over $1 billion to support Musk’s acquisition of Twitter. Ellison also served on Tesla’s board for several years, offering guidance during turbulent times.
Despite their personal relationship, their business trajectories are now set on a competitive collision course, with AI and electric vehicles defining the next era of technological dominance.
Ellison’s Journey to the Top
Ellison founded Oracle in 1977, initially providing data servers for government agencies, including the CIA. Over the decades, he battled with tech giants such as Microsoft, IBM, and Sun Microsystems, carving out Oracle’s place as a cornerstone of the global data economy.
Beyond business, Ellison is known for his passions in sports. His Oracle sailing team famously won the America’s Cup in 2010 and 2013. In 2009, he purchased the Indian Wells Tennis Garden and the BNP Paribas Open, elevating his profile in the sporting world.
Oracle’s Market Surge
As of Wednesday, Oracle shares closed 36 percent higher at $328.33, giving the company a market value of roughly $922 billion. With AI at its core, Oracle is positioning itself not only as a challenger in the tech sector but also as a catalyst for Ellison’s possible rise to the number one spot among the world’s richest individuals.
