Oracle Billionaire Larry Ellison Is Down $1.8 Billion From A Symbolic Gesture (ORCL)

Investors are not happy with Oracle right now and it cost its co-founder and CTO Larry Ellison, close to $2 billion on Friday. Ellison is Oracle's largest shareholder with over 1 billion shares, a 25% stake. So he gets hurt when the stock drops as it did by about 4% on Friday. That's because Oracle reported yet another weaker-than-expected quarter on Thursday. It was a miss on both revenue and profit. The big surprise was that Ellison was relinquishing the title of CEO. He will henceforth be kno...