Larry Ellison cancels $7.5 billion sale of Oracle stock
Oracle co-founder and executive chairman Larry Ellison has cancelled his planned sale of 50 million shares worth $7.5 billion without giving a reason.
Stock photo for illustration only, not from the actual event
- Oracle co-founder Larry Ellison has cancelled his planned stock sale
- The cancelled transaction involved 50 million shares of Oracle stock
- The shares were valued at approximately 7.5 billion US dollars
- Oracle stated no stock was sold and no further sales are planned
Larry Ellison, the co-founder and executive chairman of Oracle, has decided to call off a previously arranged sale of his company stock, as announced by the firm on Saturday. The sudden reversal has drawn considerable attention from market watchers and investors alike.
Previously, regulatory filings revealed that Ellison intended to offload 50 million shares, translating to an estimated market value of around 7.5 billion dollars, according to Reuters. Despite the scale of the transaction, the corporation did not provide any specific rationale behind the change in direction.
The tech giant formally clarified the current standing by noting that no transactions took place under the original arrangement, and the executive holds no alternative intentions to liquidate any further portions of his equity holdings moving forward.
Stock photo for illustration only, not from the actual event
"No Oracle stock was sold under that plan, and he has no other plans to sell any of his Oracle stock"
Oracle's market performance has faced headwinds, with its stock price dropping by 22% since the beginning of 2026. The company has been channeling substantial capital into data center expansions, alongside stepping up as a key stakeholder and security partner for TikTok's American operations.
Ellison's decision to halt such a massive stock divestment could be seen as an effort to stabilize investor sentiment during a period when the company's shares face downward pressure, especially while funding heavy infrastructure investments required for modern enterprise and cloud workloads.
Beyond his commitments at Oracle, Ellison has also utilized his personal financial resources to back his son David Ellison in acquiring Warner Bros., a transaction that continues to navigate legal disputes in court.
Source: TechCrunch
Found something wrong in this article? Report an issue with this article
Comments
Leave a Comment