Larry Ellison overtakes Elon Musk as world's richest person

4 hours ago 22

Danielle KayeBusiness reporter

Getty Images Larry's head and shoulders can be seen as he sits in the Oval Office, in front of a shelf with trophies and a decorative plate. He is wearing a black suit jacket, deep red tie, and has a moustache and goatee. Getty Images

Larry Ellison, pictured at an Oval Office meeting earlier this year, has overtaken Elon Musk in fortune

Elon Musk has lost his title as the world's richest person to Larry Ellison, the co-founder of Oracle and an ally of US President Donald Trump.

Ellison's wealth surged to $393b (£290bn) on Wednesday morning, surpassing Musk's $385b (£284bn), according to the Bloomberg Billionaires Index.

Shares in Oracle soared more than 40% after the database software company gave investors a surprisingly rosy outlook for its cloud infrastructure business and artificial intelligence deals.

Ellison, whose net worth is tied to the company, has steadily built his fortune over the past five decades. Oracle has recently been propelled by growing demand for data centre infrastructure.

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