Oracle · CNBC Technology
Oracle's Larry Ellison adopts trading plan to sell up to $7.5 billion worth of stock
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Oracle founder Larry Ellison has entered into a trading plan that would allow him to sell up to 50 million of his shares in the software company, or $7.5 billion worth of stock at the current price.
Key facts
- Oracle founder Larry Ellison has entered into a trading plan that would allow him to sell up to 50 million of his shares in the software company, or $7.5 billion worth of stock at the current price
- Ellison adopted the plan on June 22, and it's set to end on Oct. 24, according to a regulatory filing published Friday
- Ellison, the world's seventh-richest person, helped finance the 2025 merger of his son David Ellison's production company, Skydance, with Paramount
- It's an unusual move for Ellison, who has held onto a substantial part of the company that he launched in 1977
Summary
Ellison adopted the plan on June 22, and it's set to end on Oct. 24, according to a regulatory filing published Friday. It's an unusual move for Ellison, who has held onto a substantial part of the company that he launched in 1977. Since the start of this century, Ellison has never sold more than 25,000 Oracle shares at any given time, according to FactSet. Ellison, 82, has helped turn Oracle from a legacy software maker into a major player in artificial intelligence infrastructure.