Larry Ellison to sell up to 100 million Oracle Shares

Larry Ellison to sell up to 100 million Oracle Shares

Database industry giants Oracle Corp. has announced that their Chief Executive Larry Ellison is considering plans to sell up to 100 million of the company’s shares over the next nine months.

He is also considering gifting around 2 million shares to the Ellison Medical Foundation. This foundation supports biomedical researches.

If Ellison goes on to complete these sales of stock, he would end up with about 1.173 billion shares, or 22.7 percent, of Oracle’s outstanding stock.

And at current market price of the Oracle stock, the 100 million shares would fetch him around $2.06 billion.

Ellison is one of the richest person in the USA and was at fourth spot in the most recent Forbes magazine list.