Larry Ellison cancels planned sale of around $7.5 billion of Oracle stock

Oracle co-founder and executive chairman Larry Ellison has canceled a planned sale of his Oracle stock, the company announced on Saturday. Oracle had previously disclosed in a regulatory filing that Ellison planned to sell 50 million shares worth around $7.5 billion, according to Reuters. The company did not offer a reason for the change in plans.

“No Oracle stock was sold under that plan, and he has no other plans to sell any of his Oracle stock,” the company said.

Oracle stock is currently down 22% since the beginning of the year. The company has been spending heavily on data centers, and it recently became one of the major owners and security partners for TikTok’s U.S. operations. Ellison has also used his wealth to back his son David’s acquisition of Warner Bros., which is currently being contested in court.

Why it matters

Ellison shelving a stock sale of this size, without explanation, comes as Oracle shares have slid for months even as the company doubles down on capital-intensive data center spending — leaving investors to read into the move as they weigh Oracle’s AI-infrastructure bet against its stock’s performance.