Larry Ellison's fortune drops $49 billion as AI shakes software
Oracle co-founder Larry Ellison just saw his fortune drop by $49 billion this year, landing at $199 billion after a rough January for software stocks.
The main reason? Oracle's shares slid 5% in a single day, contributing to those losses amid a broader, multi-day rout in software stocks triggered by Anthropic's plugins, and worries are growing that new AI tools—like Anthropic's plugins—could make big software companies less essential.
Musk, Zuckerberg also feel the pinch
It's not just Ellison feeling the pain. Tech giants like Elon Musk and Mark Zuckerberg also lost billions as software stocks took their worst hit in recent years, with the S&P North American Software Index down 15% in January.
The shakeup shows how fast AI is changing the game for even the biggest names—and why everyone's watching what happens next.