• Elon Musk is almost $200 billion richer than Jeff Bezos and worth more than Costco.
• His net worth hit $447 billion after Tesla stock jumped and SpaceX's valuation rose to $350 billion.
• Just five years ago, Musk was worth about $25 billion, and Tesla was valued below $100 billion.

Elon Musk is nearly $200 billion richer than Jeff Bezos, and personally worth more than Costco, after adding $63 billion to his fortune in a single day.

His net worth surged to $447 billion on Wednesday, per the Bloomberg Billionaires Index, after Tesla stock jumped 6% and SpaceX's valuation leaped to $350 billion based on employee share sales.

Musk's fortune has ballooned by $218 billion this year — a sum that exceeds the net worth of every other person on the rich list except Amazon's Bezos ($249 billion) and Meta's Mark Zuckerberg ($224 billion).

Musk is now more than twice as wealthy as Oracle's Larry Ellison ($198 billion), and more than three times as rich as Warren Buffett ($144 billion).

His one-day gain — the largest in the index's history — rivals the total wealth of Binance cofounder Changpeng Zhao, ranked 23rd with a $63.2 billion fortune. It also helped to lift the combined wealth of the 500 richest people on the planet to above $10 trillion for the first time, Bloomberg said.

Musk is now worth more on paper than the vast majority of US public companies, including Costco ($442 billion), Home Depot ($419 billion), and Netflix ($400 billion).

His wealth is largely made up of his roughly 13% stake and some contested stock options in Tesla, and his 42% slice of SpaceX. Musk's other businesses include xAI, Neuralink, The Boring Company, and X Corp, formerly Twitter.

Tesla shares have surged more than 70% this year to $425 at Wednesday's close, valuing the company at nearly $1.4 trillion. That figure comfortably exceeds the roughly $1 trillion market value of Buffett's Berkshire Hathaway and approaches the $1.6 trillion value of Zuckerberg's Meta.

The electric vehicle maker's shares have soared as investors bet it will harness artificial intelligence in revolutionary products such as self-driving cars and humanoid robots.

Musk's prominent role in Donald Trump's campaign, and his emergence as a close advisor to the president-elect who's tasked him with streamlining the US government, have also fueled optimism around his companies.

SpaceX is now valued at $350 billion based on the latest price paid by the company and its backers to buy shares from employees, Bloomberg reported Wednesday. The Starlink owner's valuation was previously $210 billion after a secondary share sale in June.

It's worth underscoring how dramatic Musk's wealth jump has been. He was worth less than $170 billion as recently as April, and only about $25 billion five years ago — around 1/18 of his net worth now.

Tesla was worth less than $100 billion during the Covid crash of 2020, or about 1/14 of its valuation today.

• Oracle shares are set for their best year since 1999 after a 75% surge.
• The enterprise-computing stock has benefited from strong demand for cloud and AI infrastructure.
• Oracle cofounder Larry Ellison's personal fortune has surged .

Oracle has surged 75% since January, putting the stock on track for its best year since a tripling in 1999 during the dot-com boom.

The enterprise-computing giant's share price has jumped from a low of about $60 in late 2022 to about $180, boosting Oracle's market value from below $165 billion to north of $500 billion.

It's now worth almost as much as Exxon Mobil ($518 billion), and more valuable than Mastercard ($489 billion), Costco ($431 billion), or Netflix ($379 billion).

Oracle's soaring stock price has boosted the net worth of Larry Ellison, who cofounded the company and is chief technology officer. His holding of more than 40% puts him second on the Forbes Real-Time Billionaires list worth $227 billion, second only to Tesla CEO Elon Musk's $330 billion.

Oracle provides all manner of software and hardware for businesses, but its cloud applications and infrastructure are fueling its growth as companies such as Tesla that are training large language models pay up for processing power.

The company was founded in 1977 but is still growing at a good clip. Net income jumped by 23% to $10.5 billion in the year ended May, fueled by 12% sales growth in the cloud services and license support division, which generated nearly 75% of its revenues.

Oracle signed the largest sales contracts in its history last year as it tapped into "enormous demand" for training LLMs, CEO Safra Catz said in the fourth-quarter earnings release. She said the client list included OpenAI and its flagship ChatGPT model, which kickstarted the AI boom.

Catz also predicted revenue growth would accelerate from 6% to double digits this financial year. That's partly because Oracle is working with Microsoft and Google to interconnect their respective clouds, which Ellison said would help to "turbocharge our cloud database growth."

Oracle has flown under the radar this year compared to Nvidia. The chipmaker's stock has tripled in the past year and it now rivals Apple as the world's most valuable company. Yet Oracle is still headed for its best annual stock performance in a quarter of a century — and its bosses are promising there's more to come.