Larry Ellison briefly overtakes Elon Musk as world’s richest person

Oracle co-founder’s shares rose by 40% in early trading, valuing his fortune at $393bn, just ahead of Musk’s $384bn

US tech billionaire Larry Ellison is neck-and-neck with Elon Musk in the contest to be the world’s richest person after briefly overtaking the Tesla chief executive on Wednesday

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