Oracle stock drop causes Larry Ellison's assets to decrease by $124.8 billion in one month

According to Forbes on the 14th local time, Oracle founder and chairman Larry Ellison's assets have decreased by $124.8 billion (approximately 186 trillion Korean won) over the past month and a half. On the 1st of last month, Oracle's stock price was $250 per share, and Larry Ellison, who holds 40% of Oracle, had total assets exceeding $300 billion, ranking as the world's second-richest person after Elon Musk. Recently, Oracle has faced continuous selling pressure. On the 13th, its stock price fell to $133 per share, the lowest level in 14 months, reducing Larry Ellison's assets to $175.2 billion. His ranking among the wealthy dropped to 8th place, below NVIDIA CEO Jensen Huang, who has $176.3 billion.

Last year, Oracle signed a $300 billion contract with AI startup OpenAI and built related infrastructure such as data centers. Oracle has invested $55.7 billion in AI data centers and announced an additional investment of $70 billion. On the 9th, Standard & Poor's downgraded Oracle's credit rating from BBB to BBB-, a rating only one notch above junk bond status. (ETNews SW)