WASHINGTON, Dec 13 — United States (US) database giant Oracle’s co-founder Larry Ellison lost US$24.9 billion (RM102.1 billion) in a single day after the company’s shares fell nearly 11 per cent, moving him from second to third place among the world’s richest people, based on the Bloomberg Billionaires Index (BBI) on Friday.
Sputnik/RIA Novosti reported that on Thursday, Oracle shares dropped 10.83 per cent to US$198.85 per share. In pre-market trading on Friday, the stock fell another 0.88 per cent to US$197.10.
The sell-off followed a weaker-than-expected earnings report, which showed Oracle’s quarterly revenue, including revenue from its cloud computing division, falling short of analyst’s forecasts.
As a result, Ellison’s net worth declined by US$24.9 billion in one day to US$258 billion (RM1.05 trillion), pushing him down to third place in the global billionaire rankings.
Google co-founder Larry Page took the second place with US$268 billion (RM1.09), while US billionaire entrepreneur Elon Musk remained at the top of the list with US$462 billion (RM1.89 trillion).
Founded in 1977 and headquartered in Austin, Texas, Oracle is one of the world’s largest software companies.
