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Larry Ellison cancels $7.5 billion sale of Oracle stock
techcrunch.com • • business
Key Points:
- Oracle co-founder and executive chairman Larry Ellison has canceled his planned sale of 50 million Oracle shares, initially valued at around $7.5 billion.
- The company confirmed no shares were sold under the planned transaction and stated Ellison has no other current plans to sell Oracle stock.
- Oracle stock has declined 22% since the start of the year amid heavy investments in data centers and its recent role as a major owner and security partner for TikTok’s U.S. operations.
- The company did not provide a reason for the cancellation of Ellison’s stock sale.
