Oracle co-founder Larry Ellison surpassed Elon Musk as the world's richest person on Wednesday, according to Bloomberg, due to a significant surge in Oracle's stock price following a strong earnings report. Ellison's net worth is estimated at $393 billion, exceeding Musk's by several billion. However, Forbes still ranks Musk as number one, citing differences in valuation methods for Musk's private holdings, particularly SpaceX. The disparity highlights the challenges in accurately assessing the wealth of individuals with significant private assets.

Prepared by Christopher Adams and reviewed by editorial team.