Elon Musk has been booted from his spot as the world's richest person, according to Bloomberg's latest ranking.

That title now belongs to Oracle co-founder Larry Ellison, who moves into the spot after the company reported earnings Sept. 9 that beat Wall Street expectations and sent its stock skyrocketing by as much as 40% the following day.

Musk had been considered the world’s richest person for just over 300 days. He first claimed the spot in 2021 but lost the title to Amazon founder Jeff Bezos , then Bernard Arnault, the chairman and CEO of LVMH, the world’s largest luxury goods company, Bloomberg reported .

This is the first time Ellison has been the world’s richest person, according to Bloomberg, with a majority of the 81-year-old’s net worth tied to the data software company

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