{"id":566,"date":"2026-06-10T22:42:23","date_gmt":"2026-06-10T22:42:23","guid":{"rendered":"https:\/\/coasttocoastmoverss.com\/?p=566"},"modified":"2026-06-10T22:42:23","modified_gmt":"2026-06-10T22:42:23","slug":"ellisons-oracle-drops-4-after-guidance-disappointment-despite-record-sales","status":"publish","type":"post","link":"https:\/\/coasttocoastmoverss.com\/?p=566","title":{"rendered":"Ellison\u2019s Oracle Drops 4% After Guidance \u2018Disappointment\u2019\u2014Despite Record Sales"},"content":{"rendered":"<div>\n<h2>Forbes Valuation<\/h2>\n<p>We estimate Ellison\u2019s net worth at $247.8 billion as of Wednesday, making him the fifth-wealthiest person in the world, behind fourth-place Amazon co-founder Jeff Bezos ($248.8 billion). Ellison, who owns about 41% of Oracle\u2019s shares, fell behind Bezos on Tuesday after his fortune declined by more than $10 billion. His fortune has declined nearly $50 billion in around a week as selloffs around AI and tech rattle markets. Ellison briefly jumped up to <u>the No. 2 spot<\/u> on the list of world\u2019s wealthiest people last week, when his estimated net worth neared $300 billion.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=564\">Trump Calls Graham Platner A \u2018Thug\u2019 After He Wins Maine Senate Primary<\/a><\/p>\n<h2>Key Background<\/h2>\n<p>Oracle reported $57 billion revenue for fiscal 2025 and, like its competitors, has aggressively pushed to develop its cloud and artificial intelligence offerings. The company has hundreds of millions of dollars worth of cloud and AI deals with OpenAI, Meta and Nvidia. Oracle\u2019s stock is up 3.2% on the year, though it has fallen significantly from its record highs recorded last September, when one share cost as much as $328.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=562\">Anthropic CEO: \u2018We Don\u2019t Know Exactly How\u2019 Claude AI Was Used In Iran School Strike<\/a><\/p>\n<h2>Further Reading<\/h2>\n<p><u>Larry Ellison\u2019s Net Worth Plunges $10 Billion\u2014Falls Behind Bezos To Fifth-Richest<\/u> (Forbes)<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=560\">Prosecutors Subpoena Big Banks\u2014Including JP Morgan\u2014For Alleged \u2018Debanking,\u2019 Report Says<\/a><\/p>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shares of the tech giant closed down more than 2% on Wednesday before plummeting over 5% in after-hours trading.<\/p>\n","protected":false},"author":1,"featured_media":565,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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