Musk loses crown as world’s richest to software giant Larry Ellison in new Bloomberg ranking
By BERNARD CONDON AP Business Writer NEW YORK AP Oracle co-founder Larry Ellison wrested the title of the world s richest man from longtime holder Elon Musk early Wednesday according to wealth tracker Bloomberg as stock in his system giant rocketed more than a third in a stunning meager minutes of trading A college dropout the -year-old Ellison is now worth billion Bloomberg says several billion more than Musk who had been the world s richest for four years running Stock in one of Musk s biggest holdings Tesla has been moving in the opposite direction of Oracle s dropping so far this year as of Tuesday The switch in the ranking came after a blockbuster earnings assessment from Oracle powered by multibillion dollar orders from customers as the AI race heats up Another news organization with a long history of tallying the world s richest Forbes still has Musk at the top at billion Bloomberg put his net worth at billion The difference is in how the two estimate the value of Musk s rocket company SpaceX among other private holdings Related Articles Novo Nordisk maker of obesity drug Wegovy to cut jobs to sharpen focus meet competition US soundness care hiring slowdown is warning for broader job territory Examination links more frequent and severe heat waves to defilement from major fossil fuel producers Are EVs really better for the habitat Investigation checks role of coal battery and range Senate committee approves Trump s Fed Board nominee raising concerns about its independence With Ellison s surging fortune Wednesday he could fund the lifestyles of million American families for a year about the entire population of Florida allowing them to all quit their jobs assuming the U S median household income Or Ellison could just tell all of South Africa to take a vacation for year and produce nothing based on its gross domestic product
