On Thursday, Oracle shares dropped 10.83% to $198.85 per share. In pre-market trading on Friday, the stock fell another 0.88% to $197.10.
The sell-off followed a weaker-than-expected earnings report, which showed Oracle's quarterly revenue, including revenue from its cloud computing division, falling short of analyst's forecasts.
As a result, Ellison's net worth declined by $24.9 billion in one day to $258 billion, pushing him down to third place in the global billionaire rankings.
Google co-founder Larry Page took the second place with $268 billion, while US billionaire entrepreneur Elon Musk remained at the top of the list with $462 billion.
Founded in 1977 and headquartered in Austin, Texas, Oracle is one of the world's largest software companies.