Larry Ellison Drops to No. 7 as Oracle Slides 41% and Meta Lifts Zuckerberg
Updated
Updated · Forbes · Jun 29
Larry Ellison Drops to No. 7 as Oracle Slides 41% and Meta Lifts Zuckerberg
2 articles · Updated · Forbes · Jun 29
Summary
More than $100 billion has been wiped from Larry Ellison’s fortune since June 1, pushing the Oracle chairman from briefly No. 2 to the world’s seventh-richest person.
Oracle shares have fallen nearly 41% from a $250 intraday high on June 1, including a nearly 20% drop last week—its worst weekly performance since 2001—despite edging up 0.3% Monday.
Meta’s 2.6% gain added about $5 billion to Mark Zuckerberg’s net worth, lifting him to $194.1 billion and ahead of Ellison at $192.4 billion for sixth place.
Oracle’s selloff followed investor disappointment with fiscal 2027 sales guidance, even after the company beat quarterly estimates with $19.2 billion in revenue, $2.11 EPS and 93% cloud infrastructure growth.
At the top of the wealth rankings, Elon Musk’s fortune rose $25.6 billion to $976.7 billion on Monday, putting him within reach of regaining trillionaire status.