Oracle's $300 billion deal with OpenAI briefly knocked Elon Musk off the world's richest person spot, replaced instead by the company's head honcho, Larry Ellison

WASHINGTON, DC - FEBRUARY 03: Oracle co-founder, CTO and Executive Chairman Larry Ellison listens as U.S. President Donald Trump speaks to reporters in the Oval Office of the White House on February 03, 2025 in Washington, DC. After signing a series of executive orders and proclamations, Trump spoke to reporters about a range of topics including recent negotiations with Mexico on tarriffs. (Photo by Anna Moneymaker/Getty Images).

OpenAI has signed a contract with Oracle to purchase $300 billion worth of computing power over the next five years, according to sources at The Wall Street Journal. News of the deal caused Oracle's share price to surge by as much as 43% on Wednesday, increasing CEO Larry Ellison's wealth by an estimated $100 billion—and briefly knocking Elon Musk off the top spot as the world's richest person.

For which we all played our tiny violins, I'm sure. Anyway, Oracle's share price dipped slightly by the end of the day, putting Musk back at the top once more. I'm not sure what happens when you receive the title back—I like to think trumpets herald a messenger carrying your new, gold-plated, diamond-encrusted plaque—but regardless, Musk has reclaimed the position, despite a year where his Tesla-enhanced fortunes have experienced the odd wobble or two.