Oracle co-founder Larry Ellison has officially taken the top spot on the global rich list, overtaking Elon Musk for the first time in his career.

Ellison’s fortune skyrocketed by an extraordinary $101 billion in a single trading day after Oracle’s stellar quarterly performance sent its shares soaring to record levels.

By mid-morning in New York, Ellison’s net worth had climbed to $393 billion, edging past Musk’s $385 billion, according to the Bloomberg Billionaires Index. The gain marks the biggest one-day wealth jump since the index began tracking fortunes.

At 81, Ellison still serves as Oracle’s chairman and chief technology officer, with the bulk of his fortune tied to the company’s stock.

Oracle’s shares—already up 45% this year—surged another 41% on Wednesday, their sharpest-ever single-day increase, following strong cloud bookings and an optimistic forecast for its infrastructure business.

The development ends Musk’s almost year-long reign at the top of the wealth charts. The Tesla and SpaceX boss, who first grabbed the crown in 2021, had alternated with Jeff Bezos and Bernard Arnault before reclaiming it last year.

Tesla’s struggles in 2025, with shares down 13%, have chipped away at Musk’s fortune. Still, analysts note that a controversial pay package under consideration could, if performance milestones are met, eventually make Musk the world’s first trillionaire.