Oracle says Larry Ellison cancels $7.5 billion stock sale plan
The tech giant confirmed co-founder Larry Ellison withdrew his intention to sell up to 50 million shares, valuing the transaction at approximately $7.5 billion based on recent market prices.
Oracle stated on Saturday that its executive chairman Larry Ellison canceled a prearranged trading plan intended to sell up to 50 million of its own shares. This specific transaction, scheduled for expiration on October 24, 2026, involved stock worth roughly $7.5 billion at Friday's closing price. A regulatory filing from June 22, 2026, originally established the trading window.
Oracle explicitly confirmed no stock was sold under this plan and stated Ellison has no other sell-off arrangements in place. The decision followed a period of significant volatility for Oracle shares. During the year-to-date period, the stock declined nearly 23%, having previously dropped more than 18% below its June 18 closing price before Ellison initiated the plan.
Earlier weekly reporting showed conflicting signals regarding corporate finances. While quarterly results on Friday topped Wall Street estimates with a smaller cash burn than expected, analysts noted investor concerns over soaring capital expenditure continue to pressure free cash flow. Additionally, the company announced restructuring costs of approximately $700 million, which include job cuts.
Oracle provided no explanation for Ellison's decision to cancel the sale. He remains the company's largest shareholder, holding more than 38% of the company according to LSEG data.
