Larry Ellison dislodges Elon Musk as world’s richest person

Ellison’s shares in the technology giant Oracle are currently valued at $393bn, just ahead of Musk’s $384bn fortune

US tech billionaire Larry Ellison has overtaken Elon Musk as the world’s richest person after shares in Oracle, the business he co-founded, rocketed in early trading on Wednesday.

Ellison’s wealth has surged after the company, in which he owns a stake of 41%, reported better than expected financial results.