Larry Ellison falls out of top 10 in billionaire rankings as Oracle plunges
Larry Ellison lost $11.5 billion on Thursday as Oracle shares fell around 7.5%
Oracle
Larry Ellison’s net worth falls $11 billion as Oracle shares plummet to four-month low
Oracle submitted filings Monday revealing the company is selling $20 billion of debt and equity to raise money for its artificial intelligence investments.
Oracle filing reveals Co-CEO made 6,623 times the company’s median worker
The company’s latest proxy filing also showed chief technology officer Larry Ellison pledged $56.6 billion in Oracle shares as loan collateral.
Oracle stock slides after company issued ‘force majeure’ notice for major data center project
Oracle’s stock price plummeted over 4% on Thursday, erasing billions in value after Bloomberg first reported the company sent a “force majeure” notice to the developer of a massive data center in New Mexico, a legal move to attempt to shield itself from having to make payments should the project fail.