Larry Ellison Cancels Plan to Sell $7.5 Billion Worth of Oracle Stock
Oracle founder Larry Ellison has canceled his plan to sell up to 50 million shares, valued at approximately $7.5 billion based on current prices. The reversal occurred just one day after a regulatory filing revealed the trading plan, which had been scheduled from June 22 through October 24 but saw no actual stock sales before its cancellation. Ellison remains Oracle's largest shareholder with over 40% ownership since founding the company in 1977. The decision to halt his share sale comes amid a challenging period for Oracle, which has accumulated significant debt during its transition toward AI infrastructure and experienced roughly a 23% stock price decline this year. Ellison is also involved with efforts by Paramount Skydance, led by his son David Ellison, to acquire Warner Bros. Discovery (WBD). The elder Ellison supports the proposed merger but it faces delays due to antitrust concerns raised in an ongoing lawsuit.
