Oracle founder and chairman, Larry Ellison lost $1.6 billion on Thursday and was still able to maintain his position as the 7th richest person in the world. Dang!!
The company lost that amount of money after being sued by one of it's former employees, with Oracle's stock taking a dip. Because the bulk of Ellison's net worth is in Oracle stock, a small drop in the stock can impact his net worth by millions of dollars. Ellison ended the day with $48.1 billion fortune.