Larry Ellison cancels $7.5 billion sale of Oracle stock

Oracle co-founder and executive chairman Larry Ellison has canceled a planned sale of his Oracle stock, the company announced on Saturday.

Oracle had previously disclosed in a regulatory filing that Ellison planned to sell 50 million shares worth around $7.5 billion, according to Reuters. The company did not offer a reason for the change in plans.

“No Oracle stock was sold under that plan, and he has no other plans to sell any of his Oracle stock,” the company said.

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