Oracle’s 32% stock drop this year erased $60 billion from Larry Ellison’s net worth as AI spending fails to lift revenue growth.
Larry Ellison’s net worth fell by $60 billion in 2024 as Oracle’s stock declined 32%, underperforming the S&P 500’s 9% gain. His remaining fortune stands at $187 billion, though the loss marks the steepest among Bloomberg’s billionaire index this year.
Oracle’s $126 billion AI investment plan over two fiscal years has yet to translate into revenue growth, with quarterly sales of $19 billion lagging Microsoft’s $83 billion. The company’s market value has slipped to 36th globally, down from the top 20, as debt rises to $100 billion.
Despite aggressive spending, including $55.7 billion on AI data centers last fiscal year, Oracle’s stock slide reflects investor skepticism over its ability to compete with larger AI players like Microsoft and Amazon.