How Oracle’s $20 bn fundraising plan erased $11 bn from co-founder Larry Ellison’s wealth
Oracle co-founder Larry Ellison‘s estimated net worth fell $11 billion in a single day after the technology giant officially filed plans on Monday (US time) to sell $20 billion in debt and equity to potentially fund its massive artificial intelligence buildout amid plans to triple its revenue by fiscal 2030.
According to Forbes, the American billionaire witnessed a dramatic multi-billion-dollar tumble, with his fortune settling at $160 billion shortly after 2:30 pm EDT.
