The World Has a New Richest Guy

Well, it happened: The world's richest man has been toppled. As CNBC reports, Larry Ellison's personal wealth soared an unprecedented $110 billion in a single morning as Oracle's stock price flew through the roof on Wednesday, making him the billionaire with the most-est for the first time. That ends Elon Musk's reign of just over 300 consecutive days in the top spot. Ellison, 81, currently sits at a comfortable $393 billion, Bloomberg reports, atop Musk's $383 billion.

Driving the sea-change: huge excitement over AI that resulted in a 41% rise in Oracle's stock price on Wednesday, on top of 45% growth this year. Most of Ellison's wealth is tied up in Oracle—he's held some 1.1 million shares for roughly 25 years. The back-and-forth for the top spot (which recently started with Musk claiming the title in 2021, followed by Jeff Bezos, then Bernard Arnault, then Musk again) could easily go on: Musk is set to be a trillionaire in the not-too-distant future if he does his homework.