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Larry Ellison Cancels $7.5 Billion Oracle Stock Sale
Confirmed
In Short: Oracle co-founder Larry Ellison has canceled a planned sale of his Oracle stock, eliminating a potential multibillion-dollar insider sale at a pivotal moment for the technology giant.
Larry Ellison, co-founder of Oracle, has canceled a planned sale of up to 50 million shares of Oracle stock, worth around $7.5 billion, according to the company's announcement on Saturday. The decision comes as Oracle faces concerns over its heavy artificial-intelligence spending and job cuts to conserve cash, with shares down 22% since the beginning of the year.
Oracle had previously disclosed in a regulatory filing that Ellison planned to sell the shares through a Rule 10b5-1 trading arrangement, which would have allowed him to sell the shares through October. The cancellation of the sale may ease some of these concerns, as Oracle stated that no shares were sold under the plan before it was canceled and that Ellison currently has no other plans to sell his Oracle holdings.
The decision is significant for investors, especially as Oracle is expanding its infrastructure to meet the demand for computing capacity required to train and operate artificial intelligence models. According to reports, Ellison believes Oracle shares are undervalued and remains the company's largest shareholder, controlling more than 38% of the company.
Scrapping the planned stock sale may also reflect Oracle's current financial situation, as the company has been cutting thousands of jobs to conserve cash and has reported thinner gross margins. The cancellation of the sale comes just one day after the company revealed Ellison's intention to use the trading program, highlighting the timing's importance for the company's stock and its expansion plans.
What's confirmed
- Oracle followed up with a blunt statement: "No Oracle stock was sold under that plan, and he has no other plans to sell any of his Oracle stock." The reversal landed just one day after the company revealed he had sought to use a trading program that would have permitted selling those shares through Oct.
- Disrupt 2026: OpenAI, Anthropic, Replit, and more take over 6 industry stages. 25% off tickets now Back by popular demand: Save up to $300 on Disrupt Oracle co-founder and executive chairman Larry Ellison has canceled a planned sale of his Oracle stock, the company announced on Saturday.
What's still developing
- Ellison has also used his wealth to back his son David’s acquisition of Warner Bros., which is currently being contested in court.