The Oracle founder still managed to stay on the podium of the richest man in the world for a short time, pushing Elon Musk aside.

Ellison's fortune rose to $393 billion on Wednesday morning, surpassing Musk's $385 billion, according to the Bloomberg Billionaires Index.

The jump came after shares in Oracle, which accounts for a large portion of Ellison's fortune, surged more than 40% on the database software company's surprisingly upbeat outlook for its cloud business and artificial intelligence deals, the BBC reports .

Recall that CEO Safra Katz said that Oracle Cloud Infrastructure's current projects will lead to revenue growth from $18 billion this year to $144 billion by 2031. She also reported strong demand among artificial intelligence companies for their data centers, which caused a sharp increase in Oracle's share price.

But the stock price fell by the end of Wednesday, returning Musk to the top spot. He held the title of the world's richest person for almost a year.

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