Oracle stock surged on Wednesday despite missing first-quarter estimates, making Larry Ellison the world’s richest person as upbeat guidance drew Wall Street’s attention. Co-founder and CTO Larry Ellison became the world’s richest person for the first time, surpassing Tesla CEO Elon Musk. Bloomberg estimates Ellison’s wealth at nearly $400 billion, ahead of Musk’s $385 billion. Larry Ellison gained more than $100 billion from a 40% Oracle stock surge, the largest single-day wealth increase ever for a billionaire, according to Bloomberg. Larry Ellison’s Oracle stake has risen to 41% from 22% over 15 years, driven by the company’s aggressive buybacks and his limited share sales, according to Forbes. In addition to Oracle, Larry Ellison holds a stake in Tesla and owns about 50% of Paramount Skydance, which he helped merge and is run by his son David Ellison.
