The deal is expected to close next month, with Oracle, Silver Lake and MGX owning 45% of TikTok’s U.S. business.

TikTok announced a deal to sell its U.S. assets to a group of three companies. One of them was co-founded by this Florida billionaire.

After Paramount takeover Oracle’s Larry Ellison gains a TikTok stake while waging a takeover fight for Warner Bros. Discovery

Three months after Larry Ellison briefly became the world’s richest person, a historic slide in Oracle Corp. shares sent his net worth plunging by $24.9 billion.

Larry Ellison saw his wealth plunge after Oracle's earnings miss spooked investors and raised fresh questions about the company's massive AI spending.

Oracle’s stock fell more than 12% on Thursday on growing fears about the software giant’s massive AI spending — shaving more than $30 billion off co-founder Larry Ellison’s fortune. The Texas-based tech company’s stock tumbled to $194 a share from around $223 a share at the start of trading — wiping out $90 billion in market capitalization.

Larry Ellison dropped among the ranks of the world’s richest people on Thursday, falling to No. 3 as Oracle’s stock paced its worst single-day rout in nearly a year after the cloud services firm reported quarterly revenues that fell below Wall Street’s expectations.

Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Brody Ford and Drake Bennett report on Larry Ellison’s bet to return Oracle to the forefront of the tech world.

Larry Ellison shares two children with his ex-wife, Barbara Boothe: David Ellison and Megan Ellison. Here's everything to know about Larry Ellison's kids.

For a moment earlier this year, Larry Ellison was the richest man in the world. Although the Oracle co-founder only briefly stole the top spot from Elon