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Larry Ellison’s Net Worth Falls $15.5 Billion as Oracle Stock Plunges
Ellison still managed to hold on to his spot as the fourth-richest person in the world, according to Forbes
When Oracle's stock fell on Tuesday, the net worth of co-founder, Executive Chairman and CTO Larry Ellison went with it.
Ellison's net worth shrunk by $15.5 billion, according to Forbes, after shares of the technology giant took a 12.4 % dive following "disappointing" earnings on Monday, Forbes added.
The losses cut Ellison's $130 billion net worth by almost 11%, Forbes reported.
Ellison, who owns around 42% of the company's shares, still managed to hold on to his spot as the fourth-richest person in the world amid the slip, Forbes added.
While Oracle's revenue was up 5% from last year at $12.9 billion, it missed analysts expectations of just over $13 billion.
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