Larry Ellison, co-founder and executive chairman of Oracle, has scrapped a scheduled sale of his Oracle shares, as announced by the company on Saturday.

Earlier, Oracle had revealed in a regulatory document that Ellison intended to offload 50 million shares valued at approximately $7.5 billion, according to Reuters. The company did not provide an explanation for this alteration in plans.

“Under that proposal, no Oracle stock was sold, and he has no further intentions to sell any of his Oracle shares,” stated the company.

As of Sunday afternoon’s publication, Oracle shares have declined by 22% since the year’s start. The company has been investing significantly in data centers and has recently become a prominent owner and security collaborator for TikTok’s operations in the U.S.

Ellison has also leveraged his fortune to support his son David’s takeover of Warner Bros., which is currently facing legal challenges.