Larry Ellison’s Net Worth Plunges $10 Billion—Falls Behind Bezos To Fifth-Richest
Key takeaways
- Topline Larry Ellison’s fortune declined by more than $10 billion on Tuesday, dropping him behind Jeff Bezos to the No. 5 spot among the wealthiest as Oracle shares stumbled amid another broad decline for tech stocks.
- Ellison’s net worth has plummeted by roughly $47 billion over the last week, down from an estimated $296 billion, which made him the second-richest person last Tuesday.
- Oracle will report earnings after market close on Wednesday.
Topline Larry Ellison’s fortune declined by more than $10 billion on Tuesday, dropping him behind Jeff Bezos to the No. 5 spot among the wealthiest as Oracle shares stumbled amid another broad decline for tech stocks.
The Oracle co-founder was recently ranked the world’s second-richest person. Getty Images Key Facts Shares of Oracle dropped by more than 4% as of Tuesday afternoon, extending losses of 17% over the last week, as other tech stocks headlined declines across the stock market, including Marvell (11.5%), AMD (7.2%), Micron (5.9%), Apple (3.8%) and Nvidia (2.6%).
The latest intraday slide for Oracle lowered Ellison’s net worth by $10.4 billion, valued at $249.7 billion, ranking him behind Amazon’s Bezos ($252 billion) and Google cofounders Sergey Brin ($272.7 billion) and Larry Page ($295.6 billion), according to Forbes’ Real-Time Billionaires list.