Elon Musk briefly loses world’s richest man title in new ranking
Tech mogul battles with Elon Musk to become world’s richest man
- Larry Ellison briefly surpassed Elon Musk to become the world's richest person on Wednesday, according to Bloomberg.
- Ellison's net worth surged to an estimated $393 billion after Oracle's stock rocketed following a blockbuster earnings report, driven by multi-billion-dollar AI customer orders.
- Conversely, shares in Elon Musk's primary holding, Tesla, have declined by 14 per cent so far this year.
- While Bloomberg reported Ellison's brief ascent, Forbes, another prominent wealth tracker, still places Musk at the pinnacle, attributing the disparity to differing valuation methodologies for private holdings like SpaceX.
- The news comes as Elon Musk could become the world's first trillionaire under a proposed payment package at Tesla, contingent on achieving ambitious targets over the next decade.