Elon Musk dethroned as world’s richest man

International businessman and entrepreneur, Elon Musk, has been dethroned from the position of the world’s richest man.

Elon who held the title for over 300 days after reclaiming it last year, has just been dethroned by the co-founder of Oracle, Larry Ellison.

Bloomberg noted that Ellison’s net worth shot up by  $101bn on Wednesday. This happened after the company reported its quarterly results.

The company is also expected to experience further growth in the coming months. This surge increased Ellison’s worth to $393bn, while Musk stands at $385bn.