Elon Musk stripped of world's richest person title as new contender takes the crown

Elon Musk's 2025 is going from bad to worse. After falling out with President Donald Trump over the One Big Beautiful Bill Act, he's now lost his crown as the world's richest man.

Since making his millions with PayPal, Elon Musk has branched out into everything from Tesla to The Boring Company, the troubled takeover of X (formerly Twitter), and leading SpaceX in its bold ambitions to put humans on Mars..

Although Elon Musk has been the world's richest man since he overtook Jeff Bezos in 2021, Bloomberg reports he's now lost that title to Oracle's Larry Ellison. While Ellison was already creeping up on Mr. Musk's net worth, Oracle's quarterly earnings report saw his bank account leap by $101 billion and reach an impressive $393 billion. This comes just ahead of Musk's $385 billion.

According to the Bloomberg Billionaires Index, it's the biggest one-day increase ever recorded.

Some think that Musk is on track to become the world's first trillionaire, and while his ever-fluctuating net worth is sure to climb again soon, Ellison can sit back on his throne of money – for now.

This story is developing...