Larry Ellison has abandoned a plan that could have transferred as much as $7.5 billion worth of his Oracle shares into the market, just one day after the arrangement became public.

Oracle (NYSE: ORCL) said Saturday that its co-founder would not sell any stock under the plan. The Austin, Texas-based company had disclosed the previous day that Ellison had been authorized to sell up to 50 million shares by the end of October.

“No Oracle stock was sold under that plan, and he has no other plans to sell any of his Oracle stock,” Oracle said. The company did not provide a reason for the reversal.

According to Oracle’s latest quarterly filing, the plan was established in late June. Based on Oracle’s Friday closing price of $150 per share, the maximum number of shares covered by the arrangement was worth approximately $7.5 billion.

Ellison withdraws sale as Oracle’s AI costs rise

The abandoned stock-sale plan came shortly after Oracle reported improved revenue performance in its data-center division on Thursday. The company’s shares nevertheless continued to decline as investors assessed narrowing margins, which have been pressured by Oracle’s substantial investment in AI infrastructure.

Oracle shares are now trading 50% below the level recorded after the company announced its $300 billion partnership with OpenAI in September.

A source familiar with Ellison discussed his views on the stock but declined to say whether he planned to buy additional Oracle shares in the coming months.

Ellison currently owns 40% of Oracle and is the company’s largest individual shareholder. According to Oracle’s most recent proxy statement, he had pledged 346 million Oracle shares as security for personal borrowings as of September 2025.

His financial commitments also extend beyond Oracle. Ellison is involved in several major investments and projects linked to his family’s expanding position in U.S. media. In December, he agreed to personally support $40 billion in equity financing for his son David Ellison’s hostile bid for Warner Bros. Discovery (NASDAQ: WBD).

David Ellison leads Paramount Skydance (NASDAQ: PSKY), which has agreed to pause the proposed transaction until as late as next June while 12 U.S. states seek to block it on antitrust grounds.

Larry Ellison is also funding research projects, including the Ellison Institute of Technology in Oxford and the Ellison Medical Institute in Los Angeles.

Meanwhile, Oracle, which Ellison founded nearly 50 years ago, is being reshaped by rising demand from AI companies for large amounts of data-center capacity and computing power.

Oracle borrows, cuts jobs and works to complete its OpenAI buildout

Ellison has not participated in Oracle’s latest earnings calls, despite having been one of the company’s most prominent figures for decades. A person close to him said he remains “super active” in daily decision-making.

Ellison has also played an active role in promoting Oracle’s AI data centers. That business was a key factor in the contract that temporarily made him wealthier than Elon Musk. Bloomberg’s billionaire index values Ellison’s fortune at $204 billion and ranks him seventh among the world’s richest people.

Oracle’s OpenAI agreement, however, has faced difficulties, including issues involving permits and regulations. The company has had to borrow substantial amounts and issue new shares to finance the related projects.

The costs have also appeared elsewhere in the business. Oracle has carried out major layoffs, and on Friday it said it had set aside another $700 million for severance payments over the next year. That comes after the company spent $2.1 billion on severance during the previous fiscal year, when tens of thousands of workers were laid off.

Jim Cramer discussed Oracle’s results during the September 11, 2026, episode of Mad Money. He identified the company’s revenue backlog as the key figure in its first-quarter balance sheet.

“We’re talking roughly $332 billion worth of contracted business. Two years ago that backlog was just 99 billion. The scale of the opportunity here has changed dramatically,” Cramer said.

Cramer said the quarter left him more positive on Oracle than he had been for a long time. He described the earnings call as calm and normal, saying Oracle was bringing new capacity online, receiving customer cash and keeping its spending forecast under control under its current plans.