Oracle’s swoon has vaulted Alphabet Inc. co-founder Larry Page past Ellison and into the number two spot on the Bloomberg Billionaires Index for the first time. (Photo: Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

A frenzied, AI-fueled rally in Oracle Corp. stock briefly made Larry Ellison the world’s richest person in September. But a prolonged slump since then has seen the tech giant give up all those gains and more, delivering a $130 billion hit to Ellison’s net worth.

Oracle’s swoon has vaulted Alphabet Inc. co-founder Larry Page past Ellison and into the number two spot on the Bloomberg Billionaires Index for the first time.

Page, 52, who served two stints as Google’s chief executive officer before it was restructured as Alphabet, now has a net worth o

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