Larry Ellison overtakes Elon Musk as world's richest person

Core Insights - Larry Ellison has surpassed Elon Musk to become the world's richest person, with a fortune of $393 billion following a significant rise in Oracle's market value [1][2] - Oracle's market value increased by 44% to over $959 billion after announcing revenue forecasts of $144 billion by 2030, driven by an AI-focused cloud computing boom [1][2][4] Company Performance - Oracle's stock surged due to impressive revenue projections, marking a substantial increase from the current fiscal year's forecast of $18 billion [2][4] - The company's CEO, Safra Catz, described the recent quarter as "astonishing," highlighting Oracle's growing influence in the AI sector [4] Market Context - The rise in Ellison's wealth coincides with challenges faced by Tesla, Musk's primary asset, which has seen a 25% decline in stock value since December due to decreasing demand and political controversies [3] - Musk's stake in Tesla, valued at approximately $187 billion, represents about 16% of the company [3]