Larry Page Tops Ellison As Oracle Share Price Crashes 39% In AI Meltdown

A frenzied AI-driven surge in Oracle Corp.’s stock briefly propelled Larry Ellison to the top of global wealth charts in September. However, the rally has entirely reversed, wiping out all gains and erasing $130 billion from Ellison’s net worth, according to Bloomberg Billionaires Index.

Oracle’s 36% jump on September 10, triggered by soaring demand for its AI-adjacent cloud infrastructure business, had added $89 billion to Ellison’s fortune in a single day, the largest one-day increase ever recorded by Bloomberg’s wealth index. But the gains evaporated in just two months.

Larry Page Climbs to No. 2 as Alphabet Stock Soars
Alphabet Inc. co-founder Larry Page, 52, has now surpassed Ellison to become the world’s second-richest person for the first time, per Bloomberg’s rankings. Page’s net worth has climbed to $256.9 billion, buoyed by a 58% jump in Alphabet’s shares this year.

Alphabet’s revival follows renewed optimism in the company’s Gemini AI model, with investors responding positively to strong early reviews that suggest it could more effectively compete with OpenAI and Anthropic. Page has added $88.6 billion to his wealth in 2025 alone.

Meanwhile, Elon Musk remains No. 1 with a fortune of $421.8 billion, Bloomberg noted.

Oracle share price 
Oracle’s steep decline, 39% down from its all-time high, closing Friday at $198.76, reflects rising doubts over the company’s aggressive AI expansion strategy.
Oracle has tied its AI prospects closely to OpenAI, anticipating “hundreds of billions” in revenue over the coming years, far surpassing OpenAI’s current earnings, according to Bloomberg sources. Markets have reacted negatively as Oracle leans heavily on debt financing, preparing a $38 billion bond offering for data center construction even as its adjusted net debt nears $v billion.

The result: six consecutive weeks of stock declines, erasing the September highs.

Brin Signals More Active Role; Ranks Fifth Globally
Alphabet co-founder Sergey Brin, also 52, who currently holds no operational role, hinted earlier this year that he intends to return to a “more hands-on role” at the company. Brin is ranked fifth on Bloomberg’s list with a net worth of $239.9 billion.

(With Inputs From Bloomberg)
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