Move aside, Elon.
Larry Ellison became the world’s richest man Wednesday after Oracle shares skyrocketed more than 30%, according to Bloomberg’s Billionaires Index.
Ellison, 81, is worth $393 billion. He cofounded Oracle in 1977 and is the company’s biggest shareholder.
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The software giant, long seen as a staid Silicon Valley legacy firm, has positioned itself as a leading contender in the race to provide computing power for artificial intelligence.
The stock price surged Wednesday after the company projected aggressive growth in its cloud-computing business. At one point, the stock was up 40%.
With about 1.16 billion shares of Oracle stock, Ellison saw his personal wealth grow by approximately $101 billion, Axios reported.
Ellison has been known to flex his wealth. In 2012, he bought the sixth-largest island in Hawaii. He has bankrolled the so-called Formula One of competitive sailing and purchased the BNP Paribas Open at Indian Wells tennis tournament.
He has also spent millions supporting Republican presidential candidates, including Mitt Romney in 2012 and Marco Rubio in 2016. He is widely seen as being close to President Donald Trump and has made appearances at White House press conferences.
The title of a biography by Mike Wilson suggests that Ellison has a high sense of self-worth: “The Difference Between God and Larry Ellison: God Doesn’t Think He’s Larry Ellison.”
Elon Musk had held the top spot on the Billionaires Index for nearly a year. His worth is estimated at $385 billion.
As of Wednesday morning, the serially online tech mogul made no public mention of his dethroning and instead focused his attention on the “racist” Associated Press.