Ellison to sell shares

Oracle CEO Larry Ellison has announced that he plans to sell $1.32 billion of his stock in the software giant over the next ten months. Ellison plans to sell at least 50 million of his shares by the end of June this year.

Oracle spokespeople said that this sale is part of Ellison’s "strategy for asset diversification and liquidity."

The sale will still leave Ellison with 1.13 billion shares, which equates to 22.3% of Oracle’s outstanding stock, so there’s no chance of Ellison losing any of his grip over the dominant software company.