Larry Ellison slid to become the world’s eighth-richest person on Friday, falling behind Nvidia’s Jensen Huang after his net worth shed $6 billion, as a monthslong decline in Oracle shares has lowered the firm’s chairman from his spot near the peak of the wealthiest billionaires.
Oracle’s shares have plunged nearly 40% since Ellison ranked just below Elon Musk.
Ellison, whose net worth is estimated at $192.6 billion as of market close Friday, now ranks No. 8 behind Jensen ($194.4 billion), marking a $104 billion decline for Ellison’s fortune since he ranked the world’s second-richest on June 2.
Shares of Oracle plunged roughly 54% between hitting a high of just over $250 on June 1 to a low of $114.50 on July 28, though the stock rebounded slightly to $150.52 as of Friday.
A decline followed Oracle telling investors it expected to raise $40 billion through debt and equity financing, with capital expenditures surging 162% to $55.7 billion and spending expected to top $95 billion by fiscal 2027.
