Oracle CEO Larry Ellison has become the world's richest person for the first time, taking the top spot on the global wealth list, surpassing Tesla CEO Elon Musk. According to the Bloomberg Billionaires Index, Ellison's net worth rose by $101 billion in one day, to a staggering $393 billion.
The surge in his fortune has been fueled by the strong performance of Oracle shares, which rose 41% on Wednesday to a new intraday record.
Elon Musk, meanwhile, has slipped to second place on the list, with an estimated net worth of $385 billion, according to the latest Bloomberg data.
The development marks a historic moment in the race among the world's biggest billionaires, making Ellison - who founded Oracle in 1977 and turned it into one of the most powerful technology companies - the new leader in global wealth.
