Oracle's Larry Ellison is down an unmatched $49 billion this year after the plunge in software stocks

Larry Ellison built his wealth by turning Oracle into a dominant enterprise software company.

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• Oracle cofounder Larry Ellison has seen an unrivaled $49 billion wiped off his net worth this year.
• His fortune shrank by about $9 billion to below $200 billion on Wednesday as Oracle stock slid 5%.
• Oracle and other software stocks fell on fears that new AI tools would erode customer demand.

Larry Ellison has seen an unmatched $49 billion wiped off his net worth in 2026...