Larry Ellison, Oracle’s billionaire co-founder, had his net worth cut by $15 billion Tuesday as the company’s stock paced its worst loss in nearly a year, after a recent earnings report that fell short of estimates, though analysts remained optimistic about the database software firm.

Ellison — Oracle Corp. 's co-founder and former CEO as well as its current chairman and chief technology officer — is who the Nashville Business Journal newsroom selected as 2024's Newsmaker of the Year. The annual profile spotlights someone who influenced and drove one or more of the year's major events and storylines.

Larry Ellison, co-founder of Oracle, saw his net worth plummet by ₹1.1 lakh crore in a single day after the company missed earnings targets.