Larry Ellison overthrown Musk as the world’s richest person
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- As Tesla dropped by 14% since the beginning of this year.
Dar es Salaam. Larry Ellison, co-founder of technology giant Oracle, has overtaken Elon Musk to become the richest person in the world, according to Bloomberg’s latest wealth tracking report.
The shift comes after a significant surge in Oracle’s stock value, which reportedly jumped by more than a third within minutes of market trading.
Bloomberg estimates Ellison (81) now holds a net worth of approximately USD 393 billion around Sh1,020 trillion, surpassing Musk by USD 8 billion approximately Sh20.8 trillion.
Meanwhile, Tesla shares, one of Musk’s largest assets, have declined by 14% since the beginning of the year. The sudden change follows Oracle’s record-breaking earnings report, driven by a surge in orders from clients amid the intensifying global competition in artificial intelligence (AI) technologies.
Despite Bloomberg’s ranking, Forbes continues to list Elon Musk as the wealthiest individual, estimating his net worth at USD 439 billion about Sh1.1 quadrillion.
Bloomberg, however, values Musk at USD 385 billion around Sh1,001 trillion, reflecting differences in the valuation of Musk’s private companies, including SpaceX.
Musk held the top position as the world’s richest person for nearly four consecutive years. At the start of 2025, Forbes reported that he became the first billionaire to surpass a net worth of USD 400 billion.
Noteworthy, Musk’s wealth grew rapidly during a period when he publicly aligned himself with former U.S. President Donald Trump.
Reports indicate that Musk’s net worth fell by an estimated USD 26.7 billion around Sh69.42 trillion following his dispute with Trump, and by a further USD 15 billion approximately Sh39 trillion after launching his political party, the America Party.
