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There's a new richest person in the world, Bloomberg ranking says
Yahoo Finance· 2025-09-10 18:33
Core Insights - Larry Ellison has surpassed Elon Musk to become the world's richest person, following Oracle's earnings report that exceeded Wall Street expectations, resulting in a significant stock price increase [1][4]. Company Performance - Oracle reported earnings on September 9 that beat expectations, leading to a stock price surge of up to 40% the following day [1][3]. - The company's stock reached a record high of $345 on September 10, marking its largest one-day percentage increase since 1992, and has increased approximately 100% year-to-date from $166 [4]. Wealth Comparison - As of September 10, Ellison's net worth rose by $101 billion to $393 billion, while Musk's net worth was $385 billion [4]. - Ellison's wealth is primarily tied to Oracle, and this marks the first time he has held the title of the world's richest person [2][6]. Market Context - The combined wealth of the 400 richest Americans is reported to be $6.6 trillion, indicating a trend of increasing wealth among the richest individuals [6]. - Musk's Tesla shares have decreased by approximately 7% year-to-date, contrasting with Oracle's performance [5].