The Fortune Of Oracle Founder Evaporated 4 Billion Dollars Overnight.
Oracle
(Oracle) share price since Tuesday.
equity market
After closing, it has dropped by about 14%, and is now hovering around 25 dollars.
The plunge led to the evaporation of more than $4 billion in net assets of its founder, chairman Larry Allison, in less than 24 hours.
Prior to this, the software industry's big man is already Forbes US 400.
Volvo
This year, one of the richest people who has shrunk in wealth this year.
As of December 15th, that is, Forbes calculated the list of rich stock assets in the past year.
increment
On the day of the contraction, Oracle's stock price has fallen by 7% this year, which is equivalent to the depreciation of Allison's wealth by US $2 billion.
This led him to match with Redubi, the RayDolby of the audio industry, in this year's third runner up.
Only Warren Buffett (WarrenBuffett) and Sheldon Adelson (SheldonAdelson) lost more than 3 billion dollars and 2 billion 200 million dollars in their achievements.
However, Oracle's performance in the second quarter of November 30th, which ended on November 30th, can be described as miserable.
According to the article by Forbes, President of the San Francisco branch of Eric Savitz (EricSavitz), Oracle said that the poor performance of the season was mainly due to the delay in the time of paction approval of some clients and the pition of a product in hardware business.
In addition, Oracle also released the expected third quarter earnings guidance.
All these triggered a sell-off of the stock.
The company said its board has approved an additional buyback of $5 billion worth of common stock.
At present, the stock of Oracle Bone inscribed in Allison's hands is worth 6 billion 700 million US dollars, which is lower than the level at the end of last year.
But don't be sorry for him. His wealth has been rising steadily over the past few years.
Even after this fall, he still had nearly $32 billion.
Net assets
It is enough for him to secure the ranking of the third richest Americans.
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