Oracle’s Ellison surpasses Tesla’s Musk to be world’s richest man

The switch in the ranking came after a blockbuster earnings report from Oracle, powered by multibillion-dollar orders, sent Oracle stock shooting up.

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Oracle cofounder Larry Ellison has wrested the title of the world’s richest person from longtime holder Elon Musk.

On Wednesday, as stock in Ellison’s software giant rocketed more than a third in a stunning few minutes of trading, Ellison’s net worth surpassed the Tesla CEO, according to wealth tracker Bloomberg. As of 3pm in New York (19:00 GMT), Oracle stock is up 34.4 percent for the day.

Oracle’s Ellison surpasses Tesla’s Musk to be world’s richest man

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Oracle's Larry Ellison surpasses Elon Musk as world's richest man

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