Oracle's Larry Ellison became the richest person in the world Wednesday morning, with shares of the tech giant he co-founded surging more than 40%.

As of 10 a.m. ET, Ellison's wealth was nearly $400 billion. Tesla CEO Elon Musk, who had occupied the top spot, currently has a fortune of about $385 billion, according to Bloomberg . The news outlet keeps tabs on the world's wealthiest people with its billionaires index.

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Behind Ellison and Musk in the rankings sit Meta founder Mark Zuckerberg, Amazon founder Jeff Bezos and Google co-founders Larry Page and Sergey Brin.

The rapid rise in Ellison's wealth comes as he and his family push into artificial intelligence, media and politics.

Oracle's stock move Wednesday w

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