Oracle's Ellison Abandons $7.5 Billion Stock Sale Plan Amid Net Worth Drop

Oracle's CEO Larry Ellison cancelled his plan to sell $7.5 bln worth of shares after a $200 bln drop in his net worth over the past year. The plan, adopted on June 22, was set to end on Oct. 24 but was cancelled on Sept. 12, one day after public disclosure. Oracle's single-quarter capital expenditure hit $28 bln and free cash flow turned negative $5 bln, despite its AI cloud backlog reaching $664 bln.