Tesla CEO Elon Musk briefly lost his title as the world’s richest person to Oracle Corporation’s Larry Ellison on Wednesday, September 10. According to The Associated Press, Oracle’s stock surged more than 36% after market opening, adding nearly $100 billion to Ellison’s net worth within minutes. However, Musk reclaimed the crown by the end of the session as Oracle gave up part of its gains.
Oracle’s blockbuster earnings report sent its stock soaring, powered by new multibillion-dollar deals with OpenAI, Meta, Nvidia, and Musk’s own xAI. Ellison, who owns about 40% of Oracle, briefly saw his fortune rise to $383.2 billion, just ahead of Musk’s $384.2 billion, with only a $1 billion difference separating them.
The Associated Press reported that Ellison’s gain was among the most dramatic single-day increases in billionaire wealth in recent years, fuelled by optimism in Oracle’s growing role in the artificial intelligence sector.
Musk, whose fortune is largely tied to Tesla and SpaceX, held on to the top spot by session close with a net worth of $384.2 billion. Tesla’s stock, however, has fallen 14% so far this year, with EU sales plunging 40% earlier this summer, the seventh monthly decline in a row.
Besides Tesla, Musk also controls SpaceX, AI startup xAI, and social media platform X (formerly Twitter). These diversified holdings provided a cushion against Tesla’s weak performance.
On Oracle’s earnings call, Ellison forecast that the company’s cloud infrastructure business would grow 77% this fiscal year to $18 billion and reach $144 billion in four years. He highlighted Oracle’s role in running AI-driven systems across industries, from robotics and pharmaceuticals to financial trading and enterprise automation.
On September 11, 2025, Oracle Financial Services Software share price opened at ₹9,950.00, compared to the previous close of ₹9,264.50. During the session, the stock touched a high of ₹9,950.00 and a low of ₹9,044.00. At 2:40 pm, the stock was trading at ₹9,106.00, down by 1.71%.
The stock recorded a traded volume of 14.34 lakh shares and a traded value of ₹1,338.87 crore on the NSE. The total market capitalisation stood at ₹79,085.14 crore, with a free float market cap of ₹21,477.59 crore. Over the past 52 weeks, the stock has hit a high of ₹13,220.00 and a low of ₹7,038.00. Oracle Financial Services Software is currently trading at a P/E ratio of 33.48.
Read More: Oracle Stock Surges on Strong Cloud Outlook
The brief dethroning of Musk by Ellison underlines the volatility of billionaire rankings closely tied to stock market swings. While Oracle’s AI-driven surge briefly placed Ellison at the top, Tesla’s struggles show Musk continues to face challenges in the electric vehicle sector, even as he holds on to his fortune’s crown.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Sep 11, 2025, 2:54 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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