Elon Musk was briefly no longer the world’s richest person after being overtaken by Larry Ellison.
A recent deal struck by his multi-billion pound company SpaceX sent Musk to the top of the rich list with a net worth of around $384billion, according to Bloomberg.
But US tech billionaire Larry Ellison briefly took Musk’s crown on Wednesday.
His wealth spiked after Oracle, a business software company he has invested in, reported better financial results than expected.
Ellison owns a 41% stake in Oracle, and the company’s shares rose by more than 40% in early trading, meaning his stake ended up worth around $393billion.
His time on top was short-lived, however, as by the close of trading his stake was worth $378billion, putting Musk back in the lead.
A significant driver behind Musk’s recent surge in wealth is his alliance with Donald Trump during the 2024 Presidential Election.
Another of Musk’s companies, Tesla, saw a ‘Trump bump’ after the Republican defeated Kamala Harris.
Who is Larry Ellison and how did he make his fortune?
Despite briefly being the world’s richest person, you may not have heard of Larry Ellison.
He started his career as a computer programmer for several different companies from the 1970s to 1990s.
His company, Oracle, made about 10% of its workforce redundant in 1990 after losing a significant amount of money.
The company then had to settle class-action lawsuits after having overstated its earnings, which Ellison later described as ‘an incredible business mistake’.
In 1997, Ellison was made a director of Apple, leaving five years later.
Meanwhile Oracle continued to grow, and by 2006 Forbes had named him the richest Californian.
He was named the sixth-richest person in the world by Forbes in 2010, with an estimated net worth of more than $28billion, and he has remained in the rich list’s top 10 ever since.
Ellison, 81, also has a stake in Tesla, and his other sources of wealth include a sailing team, the Indian Wells Open tennis tournament, and an island in Hawaii.
He has been married six times and shares two children with his third wife, Barbara Boothe.
The 10 richest people in the world, according to Bloomberg
- Elon Musk, $384billion
- Larry Ellison, $383billion
- Mark Zuckerberg, $264billion
- Jeff Bezos, $252billion
- Larry Page, $210billion
- Sergey Brin, $296billion
- Steve Ballmer, $172billion
- Bernard Arnault, $162billion
- Jensen Huang, $154billion
- Michael Dell, $151billion
But how do 2025’s richest businessmen compare to the wealthiest people in history?
Who are the wealthiest people in history?
Here’s the top five, according to Money Inc.
5. John D. Rockefeller, $674billion
Founder of the Standard Oil Company, John Rockefeller is one of the richest men in history, according to Money Incorporated.
Alive between 1839 and 1937, the American was worth a reported $674billion at his wealthiest thanks to his business endeavours.
He first invested in the oil industry in 1865 – by 1880, his company controlled 90% of oil production in America.
4. Genghis Khan, $2.1trillion
The creator of the Mongol Empire, Genghis Khan was worth a staggering $2.1trillion.
Khan was the wealthiest emperor of the early 1100s and 1200s and owned stones and diamonds worth trillions as well as an astounding 270,000 horses valued at $13billion.
The Mongol Empire was too worth trillions, with much of Khan’s wealth earned through his acquisition of land.
Countries such as China, Syria, Korea, Russia and even the Middle East were ruled by Khan.
3. Akbar, $3.8trillion
Akbar is responsible for the building of India’s famous Taj Mahal in the 1500s.
Ruler of India through the Mughal Empire, Akbar was worth a reported $3.8trillion in today’s economics.
At the time, his Empire was accountable to a quarter of the global GDP.
2. Emperor Shenzong, $4trillion
Emperor Shenzong was the leader of the Chinese Empire from 1048-1085 – he was worth approximately $4trillion.
His wealth derived from tax collection and technological innovations, with historians arguing that Chinese technology during this period was far ahead of that in Europe.
The Chinese government during Shenzong’s time was centralised, meaning the Emperor was afforded huge economic power.
1. Mansa Musa, $4.6trillion
Mansa Musa, the former king of Mali, is believed to be the richest man in history with his wealth described as ‘incomprehensible.’
The former King ruled in Mali. a country which was hugely wealthy in land, salt and gold, between 1280 and 1337.
Mali was, in fact, during that period the largest gold producer in the world.
The African ruler was famous for making the most extravagant pilgrimage to Mecca of all time, accompanied by around 60,000 men.
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