Stock Sale

Oracle co-founder Larry Ellison has canceled plans to sell up to 50 million shares, valued at $7.5 billion. No shares were traded under the original 10b5-1 plan, and Ellison has no current intentions to sell more. This move is seen as a strong vote of confidence in Oracle’s future, particularly its AI ambitions, despite the company’s increased debt and stock decline. Ellison’s influence also extends to Skydance Media’s media acquisition pursuits.

VeriSign announced that Berkshire Hathaway is selling 4.3 million shares of its common stock at $285.00 per share in a secondary offering underwritten by J.P. Morgan Securities. The sale aims to reduce Berkshire Hathaway’s ownership below 10%, avoiding regulatory oversight. Berkshire Hathaway has agreed to a 365-day lock-up period on its remaining shares. Underwriters have an option to purchase an additional 515,032 shares. Proceeds will go to the selling stockholders, not VeriSign.

Jeff Bezos has completed the sale of 25 million Amazon shares, netting roughly $5.7 billion, according to an SEC filing. The sales, part of a prearranged plan initiated earlier this year, concluded on July 24th. Bezos’s divestitures coincided with his recent wedding in Venice. Amazon’s stock has risen 38% since late April. He has a history of selling Amazon stock to fund ventures like Blue Origin and plans to sell more shares before January 2025. Bezos currently ranks third on the Bloomberg Billionaires Index.