Amid Oracle’s stock slump ahead of the upcoming earnings report, more than $47 billion has been wiped off founder Larry Ellison’s net worth in under a week. Ellison’s fortune fell from a peak of roughly $296 billion on June 2 down to $249.7 billion, according to Forbes’ Real-Time Billionaires List.
A broader sector-wide selloff in technology and AI-related stocks has reportedly decreased Ellison’s personal fortune in less than a week, pushing him from the world’s second-richest person down to fifth place on Forbes’ Billionaires rankings.
Why did Larry Ellison lose $47 billion?
Driven by market anxieties ahead of Oracle’s upcoming earnings report, the company’s shares fell more than 4% on Tuesday, June 9, capping off a rough week that saw total losses reach roughly 17%.
Because Larry Ellison holds a massive 41% stake in Oracle, the downturn hit his net worth directly—wiping out an estimated $10.4 billion in Tuesday’s trading session alone and dragging his total wealth down from $296 billion to $249.7 billion.
Ellison now trails Amazon’s Jeff Bezos, Google co-founders Sergey Brin and Larry Page, and the world’s richest man, , according to Forbes rankings.
Forbes’ Real-Time Billionaires List
Tech stocks slump
The technology sector market turbulence extends far beyond Oracle. A widespread sector pullback saw notable declines on Tuesday across major technology and artificial intelligence equities, including , Apple, Advanced Micro Devices (AMD), Marvell, and Micron.
Oracle quarterly earnings report today
Oracle is scheduled to release its highly anticipated quarterly earnings after the market closes today, June 10.
Analyst estimates point to robust growth, with earnings of $1.96 per share, up 15% year-over-year, and revenues of $19.1 billion, up 20% year-over-year, according to a Forbes report.
Analysts are heavily focused on backlog orders, which are projected to hit $661 billion, up from $553 billion in March. Remarkably, this massive backlog exceeds Oracle’s own total market capitalisation and outpaces the annual economic output of several nations.
Larry Ellison’s AI optimism
Larry Ellison’s wealth had skyrocketed over the last year, following a massive multi-year tech rally fueled by AI optimism and surging demand for cloud infrastructure.
This made Ellison only the second person in history to eclipse the $400 billion net worth milestone after Elon Musk. However, as investor sentiment toward AI valuations grows more cautious, Oracle shares have retraced nearly 41% from their September 2025 peak.
Oracle layoffs 2026
Oracle is currently wrapping up the final phase of the largest workforce reduction in its 48-year history. Initiated in late March, the rolling job cuts are approaching their official separation deadlines between June 1 and June 15.
While Oracle has historically avoided publicly confirming precise reduction metrics, financial analysts, including TD Cowen and regional WARN Act filings, have estimated the . This represents roughly 18% of Oracle’s global workforce.
An estimated 12,000 of the total job cuts hit Oracle’s massive development hubs across India, including Bengaluru, Hyderabad, and Pune.