Larry Ellison, co-founder and longtime major shareholder of Oracle Corporation, has withdrawn plans to sell up to $7.5 billion worth of Oracle shares, the company announced on Saturday. This reversal came just one day after the technology firm disclosed Ellison’s intention to offload up to 50 million shares, which were valued at approximately $7.5 billion based on recent trading prices.

In a statement, Oracle clarified that no shares were sold under the previously announced plan, and that Ellison currently has no other plans to divest any of his Oracle holdings. Ellison has maintained a significant ownership stake in Oracle since the company’s founding in the 1970s, making him one of the wealthiest individuals globally.

According to reports, Ellison’s net worth is estimated at around $200 billion, although a substantial portion of his fortune—roughly 24 percent—is pledged as collateral. Notably, more than $40 billion of his wealth has been mortgaged to support his son David Ellison’s aggressive attempt to acquire Warner Bros. in a transaction valued at nearly $80 billion.

Oracle, meanwhile, is preparing to raise as much as $50 billion through stock and debt sales this year. The funds are earmarked for the development of new data centers tailored to meet a projected surge in artificial intelligence-related computing demands. Analysts at Morgan Stanley anticipate that the company may require an additional $100 billion in financing throughout 2027 and the first half of 2028 to sustain its expansion plans.

The company’s share performance has faced pressure amid concerns about its rising debt levels. Oracle’s stock price has declined by over 23 percent year to date, even as the Nasdaq composite index has advanced more than 13 percent over the same period.

Ellison has previously faced scrutiny over share sales. In January 2001, he sold nearly $900 million worth of Oracle stock shortly before the company’s shares fell nearly 22 percent following disappointing earnings results. That episode resulted in a lawsuit alleging insider trading, which was subsequently settled with Ellison agreeing to a $100 million charitable contribution.

The latest decision to halt the share sale signals a shift in Ellison’s approach to managing his substantial Oracle stake amid ongoing financial and market dynamics.