Oracle Founder Larry Ellison Adopts Plan to Sell Up to $7.5 Billion in Stock
The trading plan would allow Ellison, ranked the world's seventh-richest person, to sell as many as 50 million Oracle shares.
Oracle co-founder Larry Ellison has adopted a new trading plan that would permit him to sell up to 50 million shares of the software company, a stake valued at as much as $7.5 billion, according to a report by CNBC.
Ellison, who is Oracle's largest individual shareholder and serves as the company's chairman and chief technology officer, is currently ranked as the world's seventh-richest person, CNBC reported.
Details on the specific terms of the trading plan, including its duration and the timing of any share sales, were not immediately available from the report.
Trading plans of this kind are commonly used by corporate executives and major shareholders to sell company stock over a set period, in accordance with securities regulations governing sales by insiders.
Oracle has not issued a separate statement regarding the trading plan beyond the disclosure reported by CNBC.
Sources
- Oracle's Larry Ellison adopts trading plan to sell up to $7.5 billion worth of stock — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Related articles
Dangote Refinery's $1.6 Billion Share Offer Seen as Out of Reach for Many Nigerians
Africa's richest man, Aliko Dangote, is seeking $1.6 billion from investors to fund a major expansion of his oil refinery, but analysts say the offer may be unaffordable for ordinary Nigerians.
Venezuela's PDVSA Signs Energy Cooperation Deal with TotalEnergies Subsidiary
Acting President Delcy Rodriguez oversaw the signing of an agreement between state oil company PDVSA and TotalEnergies E&P New Ventures in Caracas, according to Anadolu Agency.
Fair Featuring Veteran-Owned Businesses and Craft Producers Held at Carpathian Economic Forum
Event brought together local artisans and businesses run by veterans as part of a wider regional economic gathering
Japanese agencies help employees quit without telling their boss directly
New intermediary services in Japan enable workers to end their employment in less than 15 minutes without having to face their managers directly.
Chiltern Railways becomes sixth train operator to enter UK public ownership
The London Marylebone-to-Birmingham operator is the latest to be nationalised as Labour presses ahead with plans to bring all major passenger rail services under public control by the end of 2027.
Senegal: Sadio Mané launches construction of mango agro-industrial park in Casamance
The Senegalese international footballer laid the foundation stone for a mango processing facility, named SM10 Agro, presented as a project aimed at supporting economic development in his native region.
Comments
Loading comments…