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$34 billion was wiped from Larry Ellison’s net worth days after briefly becoming the world’s richest as ‘AI bubble’ fears grow

Elon Musk was the world’s richest person for nearly 300 days before Oracle co-founder Larry Ellison experienced a 101billionovernightwealthsurge,takingthethronefromtheTeslaexecutive.Buthishighwasshortlived,asinthedaysfollowingOraclesbreakoutearningsreport,Ellisonsnetworthplummeted101 billion overnight wealth surge, taking the throne from the Tesla executive. But his high was short-lived, as in the days following Oracle’s breakout earnings report, Ellison’s net worth plummeted 34 billion while Musk enjoyed a $35 billion surge. An economist tells Fortune the fall could be caused by “second thoughts” over Oracle’s recent deal with OpenAI. Elon Musk had steadily held ...