Oracle co-founder and executive chairman Larry Ellison has withdrawn a previously announced plan to sell up to 50 million shares of the company, valued at approximately $7.5 billion based on last Friday’s closing price. The cancellation was disclosed by Oracle on Saturday, a day after regulatory filings revealed Ellison’s initial intention to execute the stock sale.

Ellison, who remains Oracle’s largest shareholder with over 38% ownership, had established the trading plan on June 22. The plan was set to expire on October 24 but reportedly did not result in any shares being sold. Oracle confirmed that Ellison currently has no alternative plans to divest his holdings.

Oracle’s stock has faced significant pressure throughout 2026, declining nearly 23% year to date amid investor concerns regarding rising capital expenditures, which have weighed on the company’s free cash flow. As of last Friday, shares were down more than 18% relative to their level before the trading plan was adopted on June 18.

The company did not provide specific reasons for Ellison’s decision to cancel the stock sale plan. Earlier this week, Oracle reported quarterly earnings that exceeded analyst expectations and showed a smaller cash burn than anticipated, indicating some financial resilience despite the broader market challenges.

Larry Ellison, 82, served as Oracle’s CEO until 2014 and has maintained a prominent role in the company’s leadership since then. The decision to forgo the planned stock sale comes amid ongoing fluctuations in Oracle’s share price and market uncertainty surrounding its capital spending strategies.