Larry Ellison loses over $47 billion in less than a week as Oracle stock slumps; falls to number 5 on richest list
Amid Oracle’s stock slide ahead of its upcoming earnings report, more than $47 billion in founder Larry Ellison’s net worth was wiped out in less than a week. Ellison’s fortune has fallen to $249.7 billion from a peak of about $296 billion on June 2, according to Forbes’ Real-Time Billionaires List.
A broader industry-wide sell-off in tech- and AI-related stocks reportedly slashed Ellison’s personal fortune in less than a week, pushing him from the world’s second-richest person to fifth on Forbes’ Billionaires rankings.
Why did Larry Ellison lose $47 billion?
Driven by market concerns ahead of Oracle’s upcoming earnings report, the company’s shares fell more than 4% on Tuesday, June 9, capping a difficult week that saw total losses reach nearly 17%.
The crisis directly affected his net worth, as Larry Ellison owns a whopping 41% stake in Oracle; He wiped out an estimated $10.4 billion in Tuesday’s trading session alone, reducing his total wealth from $296 billion to $249.7 billion.
According to Forbes rankings, Ellison currently trails Amazon’s Jeff Bezos, Google co-founders Sergey Brin and Larry Page, and the world’s richest man, Elon Musk.
Forbes’ Real-Time Billionaires List
| Rank | Name | Primary Source of Wealth |
|---|---|---|
| 1 | Elon Musk | Tesla/SpaceX |
| 2 | Larry Page | |
| 3 | Sergey Brin | |
| 4 | Jeff Bezos | Amazon |
| 5 | Larry Ellison | Seer |
Technology stocks are down
The turmoil in the tech industry market extends far beyond Oracle. A widespread sector pullback saw significant declines in major technology and AI stocks on Tuesday, including Nvidia, Apple, Advanced Micro Devices (AMD), Marvell and Micron.
Oracle’s quarterly earnings report today
Oracle plans to release its highly anticipated quarterly earnings today, after market close on June 10.
According to the Forbes report, analysts’ forecasts point to strong growth, with earnings per share up 15% annually to $1.96 and revenues up 20% annually to $19.1 billion.
Analysts estimate that heavily backlog orders will reach $661 billion, up from $553 billion in March. Remarkably, this massive backlog exceeds Oracle’s own total market capitalization and surpasses the annual economic output of many countries.
Larry Ellison’s AI optimism
Larry Ellison’s fortune soared last year following a massive multi-year tech rally fueled by AI optimism and rising demand for cloud infrastructure.
This made Ellison the second person in history after Elon Musk to eclipse his $400 billion net worth. But Oracle shares have fallen nearly 41% from their September 2025 peak as investor sentiment towards AI valuations has become more cautious.
Oracle layoffs 2026
Oracle is currently completing the final phase of the largest workforce reduction in its 48-year history. The periodic layoffs, which began in late March, are approaching official separation dates between June 1 and June 15.
While Oracle has historically refrained from publicly confirming exact reduction metrics, financial analysts, including TD Cowen and regional WARN Act filings, estimate the total reduction at about 30,000 jobs. This represents approximately 18% of Oracle’s global workforce.
An estimated 12,000 of the total layoffs affected Oracle’s massive development centers in India, including Bengaluru, Hyderabad and Pune.
