Larry Ellison cancels plan to sell Oracle stock worth up to $7.5 billion

Oracle revealed on Saturday that its co-founder and executive chairman, Larry Ellison, had canceled a plan to sell up to 50 million shares of the company worth approximately $7.5 billion at Friday's closing price. The decision to cancel the trading plan was announced following Oracle's regulatory filing on June 22, 2026, which stated that the plan was set to expire on October 24, 2026.

Contrary to expectations, no Oracle stock was sold under this plan, and Larry Ellison has no further intentions to liquidate any of his Oracle shares, according to Oracle's statement on Saturday.

The cancellation of the plan comes amid ongoing investor concerns over Oracle's increased capital expenditure, which has strained its free cash flow. Over the course of the year, Oracle's shares have experienced a decline of nearly 23%, and they were more than 18% below their closing level on June 18, the trading day preceding the plan's adoption. Oracle did not provide a reason for the cancellation of Ellison's trading plan.

Larry Ellison, currently 82 years old, served as Oracle's CEO until 2014 and remains the company's largest shareholder, holding over 38% of its shares, as per LSEG data. Earlier in the week, Oracle had announced stronger-than-expected quarterly results and a smaller-than-anticipated cash burn, which helped alleviate some concerns about its debt-driven spending and led to a rise in share prices on Friday.

However, the stock later experienced a reversal as analysts indicated that a recovery in cash flow was still a considerable distance away. Additionally, Oracle disclosed that its restructuring costs, as part of a broader plan that includes job cuts, would increase by approximately $700 million.