⚡️🚨 NEW - Larry Ellison overtakes Elon Musk to become the world's richest person for the first time.

Ellison's fortune climbed by $101 billion after Oracle Corp. reported quarterly results.

The increase brings his total fortune to $393 billion, surpassing that of Elon Musk, who has $385 billion, according to the Bloomberg Billionaires Index .

This is the biggest daily increase ever recorded by the index.