Larry Ellison has crashed to 9th on the rich list after a $159 billion wealth decline in the past year

Larry Ellison, co-founder of Oracle, has seen his net worth decline by nearly half over the past year, dropping him to the ninth spot on the world's richest list. The Bloomberg Billionaires Index reveals Ellison's wealth fell by 49.2% to $164 billion, making him the ninth-richest person globally. The 82-year-old businessman's fortune was tied to his shares in Oracle, the company he co-founded in 1977.

Oracle's share price has plummeted significantly since the start of the year, falling 39% since January 2026 and 53% since November 2025. This drop was exacerbated by Oracle's announcement to issue new shares and bonds, raising $20 billion. Investors are concerned about Oracle's plans for building data centers for AI contracts and its ability to deliver on its massive infrastructure expansion.

The tech giant's stock also fell 1.5% in premarket trading on Tuesday. The broader tech sell-off has reflected fears that the AI arms race is cooling. Google's parent company, Alphabet, experienced its worst post-earnings reaction last week, with its stock falling 13%. Ellison briefly topped the world's richest list in September 2025 after Oracle shares surged 40% in a single day.

This is a stark contrast to 2025, when Oracle's stock increased due to enthusiasm over its potential as a major provider of AI infrastructure. Ellison is now just below Nvidia's Jensen Huang in the top 10 of the Bloomberg Billionaires Index. Elon Musk remains the wealthiest individual on the planet, although his wealth has dropped significantly from trillionaire levels.

In mid-September, Oracle initiated a series of layoffs, as reported by Business Insider. The job cuts came as the company amassed debt to fund its AI spending, affecting double-digit percentages on some teams.