Larry Ellison Falls to No. 8 as Oracle Stock Slump Deepens

Oracle Chairman Larry Ellison has dropped to eighth place in the global billionaire rankings after a prolonged decline in Oracle shares significantly reduced his personal fortune. According to Forbes estimates, Ellison’s net worth fell by $8 billion on Monday to $175.2 billion, placing him just behind Nvidia CEO Jensen Huang, whose wealth declined by $6 billion to $176.3 billion following a 3.4% drop in Nvidia stock.

Oracle shares fell more than 5% on Monday to below $133, extending a steep 47% slide from their intraday peak of $250 on June 1. Because Ellison owns roughly 40% of Oracle, the company’s stock decline has sharply impacted his wealth. Since reaching more than $300 billion on June 1, when he ranked as the world’s second-richest person behind Elon Musk, Ellison’s fortune has dropped by approximately $124.8 billion.

Investor concerns have intensified over Oracle’s aggressive artificial intelligence infrastructure spending plans. The company expects to invest around $70 billion during its current fiscal year and has indicated that total spending could rise by an additional $25 billion. Last week, analysts at Melius Research said those investment plans could become difficult to sustain if customers such as OpenAI or Anthropic require even greater computing capacity.

Oracle also faced additional pressure after S&P Global downgraded the company’s credit rating on Thursday. While the ratings agency acknowledged the long-term potential of Oracle’s rapidly expanding AI infrastructure business, it warned that the heavy spending required could weaken the company’s financial position before those investments generate meaningful returns.

The recent selloff has erased a substantial portion of Oracle’s market value. The company’s valuation has fallen to about $383 billion from its September peak of $877.1 billion, representing a loss of roughly $494 billion. At the end of May, Oracle’s market capitalization stood at approximately $649 billion.

Elon Musk also saw his wealth decline on Monday after SpaceX shares dropped by more than 5%, reducing his net worth by $45.7 billion to $871.6 billion. The decline pushed Musk’s fortune below $900 billion for the first time since before SpaceX’s initial public offering.

Oracle has been expanding its cloud computing and artificial intelligence business alongside other major technology companies. Investor optimism had driven the company’s stock higher ahead of its earnings report in early June, fueled by expectations that its backlog of orders would exceed $660 billion. Although Oracle reported quarterly revenue and earnings above Wall Street forecasts, its outlook disappointed investors. Vital Knowledge analyst Adam Crisafulli described Oracle’s fiscal 2027 sales guidance as “a disappointment,” noting that the company maintained its previous forecast of $90 billion in annual revenue, a move he said echoed Broadcom’s decision not to raise its own projections and failed to meet market expectations.