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المشهد العربي
Tech stock drops cut Ellison's wealth by $47B
Larry Ellison's fortune, the co-founder of Oracle, has decreased by $47 billion due to a decline in the company's stock amid a broader tech sector downturn. This has reduced his total wealth to $253.1 billion, currently ranking him as the fifth-richest person in the world. Oracle's shares fell by 2.84%, closing at $205.81, continuing a downward trend that has seen a 17% decline over the week. This comes ahead of its upcoming quarterly earnings report, which is expected to show profits of $1.96 per share and revenues reaching $19.1 billion, representing a 20% year-over-year increase.
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