Oracle Co-Founder Net Worth Drops $10 Billion

The net worth of Oracle co-founder Larry Ellison fell by $10 billion in a single day, according to Forbes. The drop placed him behind one other individual on a ranking of the world's richest people. The change occurred amid broader market movements that affected technology-related holdings. No specific company announcements or earnings reports were cited as the direct cause.

Forbes tracks net worth estimates daily using public stock prices and disclosed holdings. The publication updates its rankings whenever significant valuation shifts occur. The same report noted that Ellison's holdings include a substantial stake in Oracle, whose shares trade publicly.