Svmuu News: According to Forbes on the 14th (local time), Oracle founder and chairman Larry Ellison saw his net worth drop by $124.8 billion—approximately 186 trillion won—in just over a month. On the 1st of last month, Oracle’s stock price stood at $250 per share, and Larry Ellison—who holds a 40% stake in Oracle—had a total net worth exceeding $300 billion, ranking him as the world’s second-richest person behind Elon Musk. Recently, Oracle has faced sustained selling pressure, and on the 13th, the stock price fell to $133 per share—its lowest level in 14 months. As a result, Larry Ellison’s net worth dropped to $175.2 billion, and his ranking among the world’s wealthiest fell to eighth place, behind NVIDIA CEO Jensen Huang, whose net worth stands at $176.3 billion.
Last year, Oracle signed a $300 billion contract with AI startup OpenAI and began building data centers and related infrastructure. Oracle has already invested $55.7 billion in AI data centers and has announced plans to invest an additional $70 billion. On the 9th, Standard & Poor’s downgraded Oracle’s credit rating from BBB to BBB-, a rating just above junk bond status. (ETNews SW).