WASHINGTON : At 81, Ellison now tops the Bloomberg Billionaires Index with a net worth of $393 billion, surpassing Musk, who stands at $385 billion. The leap marks the biggest one-day increase in the index’s history.

The rally came after Oracle stunned investors with quarterly results that exceeded expectations, along with an aggressive growth forecast for its cloud infrastructure business. Oracle shares skyrocketed 41% to $338 on Wednesday morning, boosting Ellison’s fortune, which is tied largely to his 1.16 billion Oracle shares.

While Musk remains immensely wealthy, his fortune slipped by nearly $49 billion this week, ending his nearly year-long reign at the top of the billionaires’ list. Musk, who first became the world’s richest man in 2021, has since traded the title with Amazon’s Jeff Bezos and LVMH chairman Bernard Arnault.

Ellison’s climb is a landmark moment in his five-decade career building Oracle into a software giant.