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Ellison Planning to Sell 100M Oracle Shares, Could Raise $2.06 Billion

Ellison also plans to gift around two million shares to the Ellison Medical Foundation

Larry Ellison is planning to sell up to 100 million of his Oracle shares between September and June. Using the stock's $20.61 close last Friday as a yardstick, he could raise about $2.06 billion for asset diversification and sheer liquidity. Ellison also plans to gift around two million shares to the Ellison Medical Foundation, leaving him with roughly 1.173 billion shares or 22.7% of the company.

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Oracle News Desk 07/28/07 06:42:16 PM EDT

Larry Ellison is planning to sell up to 100 million of his Oracle shares between September and June. Using the stock's $20.61 close last Friday as a yardstick, he could raise about $2.06 billion for asset diversification and sheer liquidity. Ellison also plans to gift around two million shares to the Ellison Medical Foundation, leaving him with roughly 1.173 billion shares or 22.7% of the company.