His ranking fell to third place after Musk and Page in the Bloomberg Billionaires Index.
Larry Ellison, the co-founder of Oracle and its Chief Technology Officer and Executive Chairman, lost about $25 billion of his net worth in a single day, in one of the largest wealth declines of 2025.
According to estimates from the Bloomberg Billionaires Index, Ellison incurred this loss on December 11, dropping his ranking to third place after Elon Musk, the CEO of Tesla and SpaceX and xAI, in first place, followed by Larry Page, one of the founders of Google, in second place, according to a report published by Business Chief and seen by Al Arabiya Business.
This decline came after shares of software giant "Oracle" dropped following the announcement of financial results that were weaker than expected, leading to a decrease in Ellison's net worth to about $248 billion, marking one of the largest declines in wealth during the year.
Oracle's stock had fallen about 14% after the company announced revenues of $16.1 billion for the period from September to November, according to a statement released on November 10. These figures fell short of analysts' expectations of $16.2 billion, according to "BBC".
Despite revenue growth of 14% driven by a strong 68% surge in Oracle's cloud infrastructure sales related to AI business, this was not enough to stop the sharp decline in the stock.
In a widely circulated statement made by Ellison on December 10, he said: "The world of AI technologies will see major changes in the coming years, and we must remain flexible in responding to these transformations."
He added: "We will continue to purchase the latest graphics processing units (GPUs) from Nvidia, but we must be ready and able to deploy any chips our customers prefer to buy."
This statement reflects a policy adopted by "Oracle" to purchase technology chips from any company that best meets customer needs.