Oracle Slump Sends Ellison Sliding Down Ranks of World’s Richest

A frenzied, AI-fueled rally in Oracle Corp. stock briefly made Larry Ellison the world’s richest person in September. But a prolonged slump since then has seen the tech giant give up all those gains and more, delivering a $130 billion hit to Ellison’s net worth.

Oracle’s swoon has vaulted Alphabet Inc. co-founder Larry Page past Ellison and into the number two spot on the Bloomberg Billionaires Index for the first time.