Larry Ellison and Jeff Bezos have seen more than $66 billion swiped from their net worths since the start of this year as AI-driven slump sees tech billionaires’ wealth free-fall | Fortune
Tech billionaires like Larry Ellison and Jeff Bezos have lost over $66 billion in wealth this year due to an AI-driven market slump and valuation concerns.Summary
The wealth of tech billionaires is experiencing a significant decline as fears of an AI bubble and doubts about valuations trigger a market slump. Larry Ellison has lost $59.2 billion since the start of the year, while Jeff Bezos’s fortune has dropped by $14 billion. A Tuesday selloff, spurred by Anthropic’s new AI tool, exacerbated the losses, wiping out at least $62 billion from the net worth of the wealthiest entrepreneurs in the software industry.
While tech companies previously benefited from the AI boom, adding nearly $700 billion to the net worth of the top 10 richest Americans between 2024 and 2025, rapidly evolving promises and “second thoughts” are now leading to substantial losses. Oracle cofounder Ellison briefly surpassed Elon Musk as the world’s richest person, but his wealth quickly declined following concerns about Oracle’s cloud deal with OpenAI.
The emergence of new competitors, like the Chinese tech company DeepSeek, is also disrupting the market and causing significant losses. In early 2025, billionaires saw a $10 billion daily increase in wealth, but this was quickly reversed, with Musk, Zuckerberg, and Ellison all experiencing substantial declines in their fortunes.
(Source：Fortune)
