Larry Ellison loses $6 billion in a day as Oracle stock drops

Oracle co-founder Larry Ellison just saw his personal fortune shrink by $6.1 billion in a single day as Wall Street turned hard against the tech giant. According to Bloomberg Billionaires Index data cited by The Times of India, the massive one-day drop leaves his estimated net worth at $178 billion.

Over the past 12 months, the software pioneer has reportedly lost about $194 billion in wealth, making him one of the biggest losers among the world's richest individuals. Oracle stock has plunged about 62% from its peak, wiping roughly $550 billion off the company's market value down to around $387 billion.

Investor anxiety has centred on Oracle's aggressive push into artificial intelligence infrastructure, including a reported $300 billion agreement linked to the Stargate initiative with OpenAI, the artificial intelligence research lab. At the same time, Oracle's total debt has nearly doubled to $169 billion from $88 billion early last year, pushing bond yields sharply higher as lenders demand more compensation for the risk.

The pressure has also hit physical projects, with Oracle declaring force majeure on Project Jupiter, its major data centre development in New Mexico, following pipeline permit rejections over water and emissions. Despite the heavy market storm, Oracle's underlying business posted strong growth, with quarterly revenue jumping 30% to $19.3 billion and cloud infrastructure surging 121% to $7.4 billion.

Analysts project total revenue to reach about $90 billion this year, showing the core business is still running hard even as the stock takes a severe beating.

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