Oracle boss Ellison faces major setback after sacking workers in India at Trump’s behest, loses Rs 1306050000000 in single day, company’s stock down by…

The domestic stock market witnessed a rally on Tuesday. This led to a sharp rise in the net worth of Mukesh Ambani and Gautam Adani.

New Delhi: In a major move, Oracle has recently laid off 10 percent of its employees in India. The decision came after the company officials met US President Donald Trump. The timing of the move has raised several questions, with many believing that the company acted at Trump’s behest. On Tuesday, the shares of the company fell by nearly 6 percent. According to the reports, the drop in the share has hit USD 15 billion blow to the wealth of Oracle’s founder and former CEO, Larry Ellison. Ellison holds more than a 40% stake in the company.

According to the Bloomberg Billionaires Index, Ellison’s net worth now stands at $286 billion. His wealth has surged by USD 94.4 billion this year. Ellison led Oracle for nearly 37 years before resigning as CEO in September 2014. He currently serves as the company’s Chairman and Chief Technology Officer (CTO).

Last year, Oracle had 28,824 employees in India, with offices in Bengaluru, Hyderabad, Chennai, Mumbai, Pune, Noida, and Kolkata.

Who are in the top list?

Elon Musk is now the only one left in the 300-billion-dollar club. With a net worth of 371 billion USD, he is the richest person in the world. This year, his net worth has fallen by 61.4 billion USD.

• Mark Zuckerberg of Facebook is third with 264 billion USD
• Jeff Bezos is fourth with 249 billion USD
• Larry Page is fifth with 180 billion USD
• Steve Ballmer is sixth with 175 billion USD
• Sergey Brin is seventh with 169 billion USD
• Bernard Arnault is eighth with 161 billion USD
• Jensen Huang is ninth with 153 billion USD
• Warren Buffett is tenth with 146 billion USD

Here are some of the key details:

• The domestic stock market witnessed a rally on Tuesday. This led to a sharp rise in the net worth of Mukesh Ambani and Gautam Adani.
• Reliance Industries Chairman Mukesh Ambani’s net worth increased by $3.03 billion, pushing him back into the USD 100 billion club.
• His wealth has grown by $12 billion so far this year.
• He has now reached the 17th position on the list of the world’s richest.
• Adani’s net worth rose by $2.32 billion to USD 79.6 billion, placing him at the 20th spot on the global rich list.