Ellison Tops Musk as World’s Richest Man After $101 Billion Gain

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Sep 10, 2025

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Fred Thiel

Elizabeth Renter, a Senior Economist at NerdWallet, shares compelling insights on the economic outlook and the challenges posed by tariffs. Mike McKee, an International Economics & Policy Correspondent, discusses the legal quandaries at the Federal Reserve and the implications of labor market shifts. Fred Thiel, Chairman and CEO of MARA Holdings, dives into the evolving landscape of Bitcoin regulation and innovations in mining. They explore how these topics relate to the recent surprising wealth shifts in the tech industry.

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INSIGHT

Ellison's Wealth Surge Tied To Oracle Rally

Oracle's stock jump added about $101 billion to Larry Ellison's net worth, briefly making him the world's richest person.
The surge reflects investor enthusiasm for Oracle's AI and cloud infrastructure outlook, not a permanent wealth shift.

INSIGHT

Wealth Rankings Reflect AI Narrative

The billionaire ranking battle reflects market views on AI exposure and company performance differences.
Musk's wealth depends on multiple ventures while Oracle's gains stem from immediate cloud and AI optimism.

ADVICE

Interpret BLS Revisions As Statistical Process

Treat large BLS revisions as part of the statistical process rather than sudden errors.
Expect revisions when response rates fall or the economy is in transition and factor that into economic interpretation.

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Larry Ellison has become the world’s richest person for the first time, ending Elon Musk’s nearly year-long reign in the top spot.

Ellison’s fortune soared $101 billion as of 10:10 a.m. in New York after Oracle Corp. reported quarterly results that surpassed expectations and said there’s more growth to come.
The increase lifted his total fortune to $393 billion, ahead of Musk who sits at $385 billion, according to the Bloomberg Billionaires Index. It’s the biggest one-day increase ever recorded by the index.

Musk became the world’s richest person for the first time in 2021 before losing the title to Amazon.com Inc.’s Jeff Bezos and LVMH’s Bernard Arnault. He reclaimed it last year and had held it for just over 300 days.

Ellison, 81, who co-founded Oracle and is now chairman and chief technology officer, has the bulk of his net worth tied up in the database software company.

Oracle’s shares, which had already gained 45% this year through Tuesday’s close, soared 41% Wednesday after the company posted a major increase in bookings and gave an aggressive outlook for its cloud infrastructure business. It’s the company’s largest single-day surge ever.

Today's show features:

Bloomberg News Wealth Americas Team Leader Kristine Owram on Larry Ellison surpassing Elon Musk as the world’s richest man
Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on the US Department of Labor’s Office of Inspector General initiating a review at the Bureau of Labor Statistics and the Senate Banking Committee backing Stephen Miran for a Federal Reserve Governor post
Elizabeth Renter, Senior Economist at NerdWallet, on the economic outlook and the health of the US consumer
Fred Thiel, Chairman and CEO of MARA Holdings on the regulatory outlook for Bitcoin and the company’s recent progress with Bitcoin mining

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