By Ariel Zilber
Publication Date: 2025-12-11 19:32:00
Oracle stock fell by more than 12% on Thursday about growing concerns about the software giant’s massive AI spending — which is shaving more than $30 billion off co-founder Larry Ellison’s fortune.
The Texas-based technology company’s stock price fell to $194 per share from about $223 at the start of trading – wiping out a $90 billion market capitalization.
Accordingly, Ellison’s net worth fell to $244 billion on Thursday – significantly less than the $276 billion he was worth a day earlier. according to Forbes.
That pushed the 81-year-old tech tycoon, who owns about 40% of Oracle shares, from his second place behind Elon Musk on the list of the world’s richest people.
As of Thursday afternoon, Ellison – who is help his sonParamount Skydance CEO David Ellison bought Warner Bros. Discovery – had fallen to third place on Forbes list…
