In the span of just a few months, not only did Elon Musk lose his role as Donald Trump's co-president but he may have also lost his title as world's richest man.
According to Bloomberg, Musk was dethroned from his position on Tuesday by Oracle co-founder Larry Ellison, whose cloud computing company saw its stock soar thanks to the artificial intelligence boom. Ellison's net worth skyrocketed by over $100 billion on Wednesday morning due to Oracle's soaring stock price when the market opened. Ellison is now worth $393 billion, surpassing Musk's $385 billion, according to Bloomberg.
There is some conflicting data here, though. Forbes, which tracks net worths of the richest people in the world in real time, still shows Musk leading Ellison by a little over $35 billion as of Wednesday at 12 PM ET.
Either way, this is nothing to celebrate.
Larry Ellison, chairman and chief technology officer of Oracle Corporation, sits in the Oval Office of the White House as President Donald Trump signs an executive order on Feb. 3.
Ellison is a nefarious Trump-supporting business mogul who has donated tens of millions to Republicans over the years. No person needs even a tiny fraction of the wealth Ellison possesses.
However, it's fun to point and laugh at Musk, who has hurt millions of people both in the U.S. and abroad with his Department of Government Efficiency cuts. Trump seemingly ended his buddy-buddy relationship with Musk after polling showed Musk's popularity plummeting after his DOGE disasters.
After being dumped from the administration, Musk then went on a tirade against Trump, lambasting Trump and the GOP’s “Big Beautiful Bill,” and telling the world that Trump was in the files the government has on accused sex trafficker Jeffrey Epstein. Musk was not at a dinner Trump hosted last week with tech-bro CEOs. He claimed he was invited but could not attend. Sure.
Meanwhile, Musk's Tesla company is floundering because the company's wealthy and educated consumer base appears to be turning away from Tesla over its distaste with Musk.
Now he may not even be the world's richest man anymore.
Of course, Tesla’s board on Friday laid out a series of benchmarks for Musk to meet that, if Musk is successful at, will make him the world’s first trillionaire, The New York Times reported this past Friday. The Times reported, however, that it would be “extremely hard” for Musk to meet some of those targets.
Sad!
