Oracle's Larry Ellison adopts trading plan to sell up to $7.5 billion worth of stock

Oracle founder Larry Ellison can sell up to 50 million of his shares in the software company under a new trading plan. According to CNBC Technology, this move is by the world's seventh-richest person. The Financial Times reports that as many as 50 million shares can be offloaded.

The value of the shares is not explicitly stated in the reports, but based on the information provided by CNBC Technology, if 50 million shares were sold, it could be worth up to $7.5 billion.

The company recently posted higher revenue from data centres, but is facing investor fears that it is overcommitted to AI, the Financial Times reports.

Brief written by urgent.news from CNBC Technology, Financial Times, Fortune — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.