Larry Ellison Overtakes Elon Musk As World’s Richest Man

The company announced during an analyst call on Tuesday that it had signed four multi-billion-dollar contracts during the fiscal first quarter, which increased bookings four times over last year, according to Business Insider.

The rising stock boosted Ellison’s net worth by $101 billion on Wednesday alone, putting the 81-year-old Oracle mogul’s fortune at $393 billion, making him the world’s richest man for the first time.

For those keeping score, that’s $8 billion more than the previous world’s richest person, Tesla mogul Elon Musk, who is now only worth a paltry $385 billion.

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But while Tesla stock shares are down 13% this year, Musk has a chance to once again take over the world’s richest title.