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$34 billion was wiped from Larry Ellison’s net worth days after briefly becoming the world’s richest as ‘AI bubble’ fears grow
OracleOracle(US:ORCL) Yahoo Finance·2025-09-18 15:50

Group 1 - Elon Musk was briefly surpassed by Larry Ellison as the world's richest person after Oracle's stock surged 36% following a strong earnings report, resulting in a $101 billion increase in Ellison's net worth to $393 billion [1][2] - Ellison's position as the richest person was short-lived, as his net worth fell by $34 billion in the two days following the stock surge, leaving him with a net loss of $23 billion from his peak [3] - The decline in Ellison's wealth was attributed to "second thoughts" regarding Oracle's cloud deal with OpenAI, which involves a $300 billion contract for computing power over five years [3][4] Group 2 - The deal with OpenAI was seen as a significant opportunity for Oracle, potentially transforming it into a key player in the AI industry, but concerns arose about the financial risks associated with relying heavily on a single customer [5] - Analysts warned that Oracle has not yet established itself as a top cloud provider, and OpenAI's annualized revenue of $12 billion is significantly lower than the $300 billion commitment, raising questions about the feasibility of the deal [5]