Larry Ellison’s fortune down $15 billion after Oracle stock plunges

Oracle CEO Larry Ellison lost $15 billion today after the company’s stock posted its worst performance in nearly a year, following a earnings report that fell short of estimates even as analysts remained optimistic about the company’s future.

Oracle shares fell about 7% to less than $178 during trading today, the biggest drop since December 12, 2023.

Ellison’s roughly 42% stake in Oracle fell from $218.2 billion at Monday’s close to $203 billion on Tuesday, according to CNN.

Oracle reported second-quarter revenue of $14.06 billion and adjusted earnings per share of $1.47 on Monday, both slightly below analysts’ expectations of $14.1 billion and $1.48 per share, respectively, according to FactSet.