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.

Stream Connecticut News for free, 24/7, wherever you are. WATCH HERE

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 wa

See Full Page