Larry Ellison has abruptly reversed course on a plan to unload a massive chunk of his holdings in Oracle, canceling a proposal to sell up to 50 million shares. Based on current market prices, the move would have seen the company’s founder offload approximately 7.5 billion dollars worth of stock. This sudden change of heart comes just one day after regulatory filings revealed the existence of a trading plan that had been in place since late June and was scheduled to run through October.
According to a news release issued on Saturday, not a single share had actually been sold under the specific rule 10b5-1 plan before it was scrapped. Company representatives noted that Ellison currently has no further intentions of selling any additional shares. At 82 years old, the tech mogul remains deeply entwined with the empire he started in 1977, maintaining an ownership stake of more than 40 percent.
The decision arrives at a volatile time for Oracle as it attempts to transition from its roots as a legacy software provider into a powerhouse for artificial intelligence infrastructure. While this strategic pivot has positioned the firm as a key player in the AI race, it has come with significant costs. The company has taken on a heavy debt load to fund its expansion, contributing to a rough year for investors who have watched the stock price slide about 23 percent.
Beyond his corporate duties at Oracle, Ellison continues to be a central figure in high stakes media deals involving his son, David Ellison. As the CEO of Paramount Skydance, David is currently pursuing an acquisition of Warner Bros. Discovery, with Larry providing critical financial backing for both the initial Skydance merger and the broader bid for WBD. That particular deal remains stalled however as it faces legal hurdles via an antitrust lawsuit filed by state attorneys general.