Larry Ellison's fortune drops $6 billion as Oracle shares tumble
Oracle chairman Larry Ellison fell to the world’s eighth-richest after his net worth slipped by $6 billion amid a sharp decline in Oracle’s stock.
Larry Ellison, Oracle’s chairman, saw his ranking slip to eighth-richest globally, with his fortune now valued at $192.6 billion after a $6 billion loss. Jensen Huang of Nvidia remains ahead with $194.4 billion. Oracle’s stock dropped roughly 54 % from a peak above $250 on June 1 to $114.50 on July 28, later edging up modestly.
The decline coincided with Oracle’s plan to raise $40 billion through debt and equity and a capital-expenditure surge to $55.7 billion, projected to exceed $95 billion by fiscal 2027. Analysts expressed doubts about the company’s ability to fund such spending, noting that over half of its performance obligations are tied to OpenAI and that credit agencies have downgraded its rating. Concerns also stem from the broader tech sector’s heavy investment in AI infrastructure, which some view as financially risky.
Why it matters
Ellison’s wealth drop signals investor worries about Oracle’s aggressive AI spending and financing strategy.
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