Despite Oracle’s recent reversal from all-time highs, Ellison’s wealth has still increased by US$60 billion since Jan 1. However, the structure of Ellison’s fortune means that turning those gains into cash to fund a potential backstop could present challenges. Ultimately, it relied instead on more traditional debt and third-party investors, as well as cash from Musk, who sold Tesla stock worth nearly US$23 billion that year. Ellison’s decision to hold on to his stake has reaped him tens of billions as the company’s stock has soared this year. Ultimately, Warner Bros favoured Netflix’s cash-and-stock offer, partly over concerns about the reliability of Ellison backstopping Paramount’s bid without guaranteeing the bid personally.

Source: The Edge Markets December 23, 2025 08:17 UTC