American billionaire Larry Ellison loses $11 billion as Oracle shares drop 8.8%

American billionaire Larry Ellison lost an estimated $11 billion from his fortune on Nov 2 as shares of Oracle fell to their lowest level since April, following the technology company’s announcement of a $20 billion fundraising plan to support its expanding artificial intelligence and cloud infrastructure business.

According to Forbes’ Real Time Billionaires ranking, Ellison’s net worth fell to approximately $160 billion during Monday’s trading session, leaving him eighth among the world’s richest people. The decline came as Oracle shares dropped 8.8%, extending a prolonged selloff that has weighed on the company’s market valuation.

Oracle’s share price closed at $119.22 on Nov 2, down from $130.67 at the previous session’s close. The decline followed regulatory filings outlining plans to raise $10 billion through a common stock offering and another $10 billion through a bond sale.

The company subsequently priced its equity offering at $116 per share, selling 86.2 million new shares. The price represented an 11.2% discount to Oracle’s closing share price on Oct 30. The bond offering comprises five tranches with interest rates ranging from 7% to 8.65%, and maturities extending from 2029 to 2046.

Oracle said the net proceeds from the two offerings would be used for general corporate purposes, including capital expenditure, debt repayment, future investments and acquisitions, as well as dividends and share repurchases. Both offerings are expected to close on Nov 4, subject to customary conditions.

The fundraising comes as Oracle increases investment in artificial intelligence infrastructure to meet demand for cloud computing capacity. The company has maintained an annual capital expenditure target of $90 billion to $95 billion, reflecting the scale of its infrastructure expansion.

However, the financing plan has intensified investor concerns about the cost of its artificial intelligence ambitions, its borrowing requirements and the potential dilution of existing shareholders through the new share issuance.

Oracle reported $125.34 billion in borrowings as of August 31, 2026, against revenue of $67.36 billion for its 2026 financial year, according to Reuters.

Ellison co-founded Oracle in 1977 and serves as its chairman and chief technology officer. He owns roughly 40% of the software company, making his personal fortune particularly sensitive to movements in its share price.

The latest decline highlights the pressure facing Ellison’s wealth as investors reassess the financing demands and potential returns of Oracle’s artificial intelligence expansion.