Businessman Larry Ellison, one of the founders of Oracle, saw his fortune decrease by 31 billion dollars (around 168 billion reais) this Thursday (12/11), according to information from the North American magazine Forbes.
As a result, Ellison lost one position in the Forbes ranking of billionaires, falling from second to third place on the list, updated in real time.
This Friday morning (12/12), he appeared behind Elon Musk, owner of Tesla, SpaceX and X (formerly Twitter) and Larry Page (one of the founders of Google).
The fortune of the co-founder of Oracle, an American multinational technology giant, amounted to 249.5 billion US dollars (equivalent to 1.35 trillion reais).
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Why Larry Ellison lost money
The businessman’s billion-dollar loss is linked to Oracle’s shares falling more than 10% on Thursday after the company’s financial statements were released.
Oracle’s results fell short of market analysts’ estimates and increased concerns about high investments in artificial intelligence (AI).
Discover the top 5 richest people in the world, according to Forbes:
- Elon Musk (Tesla and SpaceX): $491.9 billion
- Larry Page (Google): $256.7 billion
- Larry Ellison (Oracle): $249.5 billion
- Jeff Bezos (Amazon): $241.9 billion
- Sergey Brin (Google): $236.8 billion
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