Larry Ellison cancels $7.5 billion sale of Oracle stock

Oracle said on Saturday that co-founder and executive chairman Larry Ellison has scrapped a previously disclosed plan to sell Oracle shares. The company had earlier reported that Ellison intended to offload 50 million shares, roughly valued at $7.5 billion, but provided no explanation for the reversal.

By AI NewsroomPublished about 2 hours agoUpdated about 2 hours ago0 views

Larry Ellison cancels $7.5 billion sale of Oracle stock

Why It Matters

The canceled sale removes a large potential supply of shares that investors had been expecting, and comes as Oracle shares have fallen about 22% year-to-date while the company invests heavily in data centers and takes on new strategic roles such as a major owner and security partner for TikTok U.S. operations. Ellison’s broader financial activities also include backing his son’s bid for Warner Bros., which is facing legal challenges.

Key Facts

Planned sale disclosed: 50 million Oracle shares were previously disclosed as planned for sale
Estimated value: Around $7.5 billion
Cancellation announced: Oracle said the planned sale was canceled and no shares were sold under that plan
Current sale plans: Oracle stated Ellison has no other plans to sell his Oracle stock
Stock performance: Oracle shares were down about 22% since the start of the year as of Sunday afternoon publication time

Oracle announced on Saturday that Larry Ellison has abandoned a previously disclosed program to sell a large block of his Oracle shares. The company had earlier reported in a regulatory filing that Ellison intended to sell 50 million shares, a stake with an estimated value near $7.5 billion, but Oracle did not offer a reason for the change in plans.

In its statement, the company said no stock was sold under that proposed plan and that Ellison does not currently intend to sell any of his Oracle holdings. The reversal removes a significant potential source of supply that market participants had been watching when the initial disclosure was made.

The announcement comes as Oracle shares have fallen roughly 22% since the start of the year, and the company has been pursuing large capital expenditures on data-center capacity. Oracle also recently became one of the principal owners and a security partner for TikTok’s U.S. operations, moves that have reshaped investor attention on the firm.

Outside of Oracle, Ellison has used his personal wealth to support other high-profile deals, including backing his son David’s acquisition of Warner Bros., a transaction that is currently being contested in court. Oracle’s statement leaves Ellison’s stock plans unchanged for now, while the company continues to pursue its strategic investments and partnerships.