Larry Ellison borrowing arrangements expanded as of October 21, 2026, with holdings in Tesla, SpaceX and Paramount being used to secure additional bank loans. The financing approach allows him to retain Oracle shares rather than sell a substantial portion to help fund his son’s planned acquisition of Warner Bros. Discovery.
Key Takeaways
- Ellison had pledged 413 million Oracle shares as collateral as of September 21, 2026.
- The expanded borrowing involves other stock holdings and lenders including Citigroup and JPMorgan.
- Borrowing against shares provides liquidity without an immediate sale, but leaves repayment obligations.
Table of Contents
- Ellison borrowing draws on a wider pool of stock
- Retaining shares instead of selling to raise cash
- Conclusion
Ellison borrowing draws on a wider pool of stock
Ellison has expanded loan arrangements with banks including Citigroup and JPMorgan, using investments beyond Oracle as collateral. The additional holdings include Tesla, SpaceX and Paramount.
Oracle disclosed that 413 million of Ellison’s shares were pledged to secure personal indebtedness as of September 21, 2026. The pledged shares support personal term loans used to finance outside business ventures; they should not be confused with borrowing by Oracle itself.
Oracle’s 2026 proxy statement identifies Ellison as the company’s executive chair and chief technology officer. His personal financing arrangements are distinct from the software company’s operating results and corporate funding.
| Item | Details |
|---|---|
| Oracle collateral | 413 million shares pledged as of September 21, 2026 |
| Other holdings used | Tesla, SpaceX and Paramount |
| Named lenders | Citigroup and JPMorgan |
| Financing purpose | Personal outside business ventures, including support for a planned media acquisition |
Retaining shares instead of selling to raise cash
Ellison initially planned to sell a significant portion of his Oracle holdings to help finance his son’s acquisition of Warner Bros. Discovery, but instead opted to retain the shares and increase borrowing. The financing plan does not establish that the proposed acquisition has been completed.
A stock-backed loan can provide cash without triggering the capital gains associated with an immediate share sale. That is a timing distinction, not evidence that all future taxes disappear or that the financing has no cost.
The trade-off is that the borrower keeps both the investment exposure and the debt. Depending on the loan terms, a decline in collateral value can require additional security or repayment. Interest rates, maturities and collateral requirements for Ellison’s expanded arrangements were not specified.
Conclusion
The financing shift preserves Ellison’s shareholdings while increasing his reliance on secured personal borrowing. Oracle’s next confirmed shareholder event is its virtual annual meeting on November 18, 2026; no date for further disclosure of the personal loan terms has been specified.
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