Oracle's co-founder, Larry Ellison, has recently witnessed a substantial drop in his fortune, largely attributed to a prolonged slump in the company's stock price over the past few weeks. This downturn has led to a cumulative loss of around $130 billion, causing his position on the Bloomberg Billionaires Index to slide from second to third place globally.

Previously buoyed by significant orders from OpenAI, Oracle's stock price had surged, leading to a staggering $89 billion increase in Ellison's assets in just one day. This brief surge even propelled him past Elon Musk, making him the world's richest person for a short period. However, as market anxieties grow over a potential AI bubble and concerns about circular financing among tech giants mount, Oracle's stock price has taken a sharp downturn.

Currently, Oracle is gearing up to issue $38 billion in bonds to finance the construction of AI data centers, with its adjusted net debt nearing $100 billion.

In contrast, Google's co-founder, Larry Page, has climbed to the second spot on the Bloomberg Billionaires Index, boasting assets worth $256.9 billion, second only to Musk. Page's wealth increase can be traced back to the favorable market reception of Google's Gemini AI model, which has revitalized investor confidence in Google's competitiveness within the AI sector.