By TOI Tech Desk
Publication Date: 2026-02-06 03:44:00
According to the Bloomberg Billionaires Index, Oracle co-founder Larry Ellison suffered an unprecedented $50 billion loss from his net worth in less than forty days this year. Ellison’s fortune stood at $199 billion at the close of trading on Wednesday (Feb. 4), a significant decline from $247 billion at the beginning of January. A 5% one-day plunge in Oracle shares wiped out about $9 billion of those assets, exacerbating the decline.The round in software stocks was sparked by Anthropic releasing plugins for its Claude Cowork AI agent that can easily automate business tasks in legal, Libra, finance, marketing and data analysis. Investors now fear that such tools could lead to a decline in demand for external software from established giants such as Adobe, Salesforce, Intuit and Atlassian. Shares of all of these companies plunged earlier this week before recovering slightly, but Oracle’s losses remained heavy.
Ellison wasn’t the only one to hit other tech leaders hard
Ellison wasn’t there…
