Larry Ellison Cancels Plan to Sell Up to $7.5 Billion of Oracle Stock

Oracle founder Larry Ellison has canceled plans to sell up to 50 million of his shares in the company, worth around $7.5 billion at current prices, Oracle said on Saturday. The announcement came a day after Oracle disclosed that Ellison had adopted a trading plan to sell the shares by late October.

Oracle’s share price has come under pressure over concerns about the company’s heavy spending on an AI infrastructure buildout. Oracle said on Saturday that Ellison hadn’t sold any shares under the plan and that he has no other plans to sell any of his stock in the company. Ellison has separately pledged more than $40 billion to support his son, Paramount Skydance CEO David Ellison, in his effort to acquire Warner Bros. Discovery.