New Delhi, June 10 -- Amid Oracle's stock slump ahead of the upcoming earnings report, more than $47 billion has been wiped off founder Larry Ellison's net worth in under a week. Ellison's fortune fell from a peak of roughly $296 billion on June 2 down to $249.7 billion, according to Forbes' Real-Time Billionaires List.

A broader sector-wide selloff in technology and AI-related stocks has reportedly decreased Ellison's personal fortune in less than a week, pushing him from the world's second-richest person down to fifth place on Forbes' Billionaires rankings.

Driven by market anxieties ahead of Oracle's upcoming earnings report, the company's shares fell more than 4% on Tuesday, June 9, capping off a rough week that saw total losses rea...