Larry Ellison adopts plan to sell up to 50 million Oracle shares

Oracle founder Larry Ellison has adopted a trading plan that could let him sell up to 50 million shares of the software company, equal to about $7.5 billion at recent prices. The plan was adopted on June 22 and is scheduled to run through Oct. 24, according to a regulatory filing published Friday. Ellison has historically sold very little of his Oracle stake, making the move notable for an executive who still controls more than 40% of the company. Oracle has been pushing deeper into artificial intelligence infrastructure, but that expansion has also increased its debt burden and raised investor concerns. The company’s shares are down about 20% this year even after Oracle reported strongerthanexpected quarterly results and cloud infrastructure revenue growth.