Elon Musk briefly lost his title as the world's richest person to Larry Ellison. Ellison is the co-founder of Oracle and an ally of US President Donald Trump. His wealth surged to $393 billion (£290 billion) on Wednesday, surpassing Musk's $385 billion (£284 billion), according to the Bloomberg Billionaires Index. The jump came after shares in Oracle, which make up a significant part of Ellison's fortune, soared more than 40%, boosted by the database software company's rosy outlook for its cloud infrastructure business and artificial intelligence (AI) deals. But the firm's share price had shed some of those gains by the end of the day, putting Musk back on top. Before briefly losing it to Ellison, Musk had held the title of world's richest person for nearly one year. Ellison helped launch Oracle in 1977 and rose to prominence in the 1990s, when he became a public figure known for his lavish lifestyle. Oracle has been touted as a possible buyer of TikTok, which is currently owned by the Chinese internet company ByteDance. (TikTok is facing a ban in the US unless it gets rid of its ByteDance ownership.) In January, when asked whether he was open to Musk buying TikTok, Trump responded: "I'd like Larry to buy it, too."