Larry Ellison, founder and CEO of Oracle Corp, saw his net worth drop by more than $47 billion in under a week as Oracle's stock price slumped ahead of its upcoming earnings report. Ellison's fortune fell from about $296 billion on June 2 to $249.7 billion, according to Forbes' Real-Time Billionaires List, causing him to fall from the world’s second-richest person to fifth place.
The decline in Ellison’s wealth is linked to a broader selloff in technology and AI-related stocks that affected Oracle and other companies in the sector. This market movement occurred in the days leading up to Oracle’s earnings announcement, which investors are closely watching. The selloff has impacted several tech giants, reflecting investor concerns about valuations and growth prospects in the current environment.
Oracle’s stock slump and Ellison’s loss highlight the volatility in the technology sector, especially among companies involved in AI. The drop in Ellison’s net worth is one of the largest single-week declines for a billionaire and underscores the sensitivity of tech valuations to market sentiment. Oracle’s position in the market and its upcoming earnings report are being scrutinized as indicators of the sector’s health amid ongoing economic uncertainties.
Forbes’ Real-Time Billionaires List recorded Ellison’s net worth at $249.7 billion as of June 10, 2026, marking his fall to fifth place among the world’s richest individuals.