Larry Ellison backs son's media deal avoiding $7.5 billion sale
Business
Larry Ellison, Oracle's co-founder, is backing a media deal linked to his son, David, by using his Oracle shares as collateral for big-bank loans, instead of selling $7.5 billion worth of stock.
This lets him raise cash without messing with Oracle's stock price or racking up huge taxes.
Ellison pledges 36% of Oracle shares
Ellison has put up about 36% of his Oracle shares (roughly 413 million shares) as loan collateral, tying into a $47 billion commitment for the Warner Bros. Discovery takeover, mostly funded by Middle Eastern investors.
The Oracle board says they trust Ellison to repay the loans and aren't worried about sudden sell-offs affecting the company's stability.