Larry Ellison, the founder of Oracle, lost almost $27 billion of his wealth in a single day. This was reported in the Forbes Real-Time Billionaires Ranking.
As of the morning of December 12, his total wealth stood at $249.5 billion, which is nearly 10% less than the previous day’s figure. Ellison currently ranks as the third richest person in the world.
Ahead of him are Elon Musk and Larry Page. The decline in Ellison’s wealth is linked to a sharp drop in Oracle’s stock prices.
During trading on the New York Stock Exchange, the company’s shares fell by 10.8%, reaching $198.85. Over the course of the day, this drop deepened to 16.5%.
Such a negative reaction from investors was triggered by the financial results of Oracle's second quarter for the 2026 fiscal year. The company reported figures below forecasts and warned about a significant increase in capital expenditures.
Additionally, the corporation's debt obligations are raising concerns. In the fall, Oracle issued bonds worth $18 billion and attracted significant bank loans to construct new data centers.
According to Citi analysts, Oracle may need an additional $20-30 billion in debt annually over the next three years.
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