Topline
Larry Ellison dropped among the ranks of the world’s richest people on Thursday, falling to No. 3 as Oracle’s stock paced its worst single-day rout in nearly a year after the cloud services firm reported quarterly revenues that fell below Wall Street’s expectations.
The cloud services giant reported quarterly revenue that fell short of Wall Street’s expectations.
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Key Facts
Shares of Oracle decreased by 13.1% to around $193.80 as of around 10:45 a.m. EST Wednesday, pacing the stock’s largest intraday loss since shares fell 13.7% in January.
A rout in Oracle’s shares comes after the company reported $16 billion in revenue in its latest quarter, below analyst estimates of $16.1 billion, according to FactSet, with the company reporting $5.8 billion in software sales, down from projections of just over $6 billion.
Despite missing on software revenue, Oracle’s second-quarter cloud sales rose 34% to $7.97 billion, beating estimates of $7.92 billion.
The company also reported $12 billion in capital spending in the quarter, well above the $8.3 billion expected by Wall Street.
Forbes Valuation
Ellison, Oracle’s chairman who stepped down as CEO in 2014, is the third-richest person in the world after $35.8 billion was cut from his net worth, estimated at $245.2 billion, after earlier falling to as low as fifth. Ellison previously held the No. 2 spot, now occupied by Google cofounder Larry Page ($260 billion), and ranks ahead of No. 4 Jeff Bezos ($242.9 billion), No. 5 Sergey Brin ($238.2 billion) and No. 6. 5Mark Zuckerberg ($224.6 billion). Ellison came within striking distance of Elon Musk, the world’s richest person with a $491.3 billion net worth, in September, as more than $110 billion was added to Ellison’s fortune during a surge in Oracle’s stock. Ellison became the second person ever to eclipse the $400 billion threshold with his net worth reaching nearly $405 billion, though he trailed Musk by roughly $31 billion at the time.
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Source: https://www.forbes.com/sites/tylerroush/2025/12/11/larry-ellison-losing-31-billion-stumbles-to-no-3-richest-as-oracle-shares-plummet/
