From Iran, A.I., CBS to Oracle, Trump friend Larry Ellison may be losing his grip.
Slate • • business
Key Points:
- Larry Ellison's Oracle has gained significant benefits from its close ties to former President Trump, including a major stake in TikTok, favorable AI deals, and stock price increases, enabling his son David to pursue costly media acquisitions like Paramount and Warner Bros. Discovery.
- These acquisitions are heavily financed through multibillion-dollar guarantees from Gulf sovereign funds, whose support is now uncertain due to regional instability caused by the U.S.-Iran conflict and shifting investment priorities in the Middle East.
- Oracle's stock has fallen to half its peak value amid skepticism about its technological expansion plans, leading to hiring freezes, potential layoffs, increased debt, and legal challenges from bondholders over transparency and costs.
- Paramount Skydance faces declining viewership, financial losses,
