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zerohedge.comSEP 263 min read$ORCL

Larry Ellison Pledges $9 Billion More In Oracle Stock To Fund Warner Bros Deal As Price Tumbles, CDS Hits Record

Oracle's CEO Larry Ellison pledged an additional 67 million shares, worth $9.2 billion, as collateral for personal loans, a 19% increase from last year. The pledged shares support his $47 billion equity commitment to Paramount's $111 billion acquisition of Warner Bros. Discovery. Oracle's stock is near 52-week lows, and its bonds and credit default swaps have surged.

Original reporting
zerohedge.com
Published Sep 26, 2026, 6:35 PM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Sep 26, 2026, 10:16 PM UTC. Informational, not investment advice.
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Larry Ellison Pledges $9 Billion More In Oracle Stock To Fund Warner Bros Deal As Price Tumbles, CDS Hits Record — source image
Source · zerohedge.com
Decision brief

The 30-second read

$ORCLBearishHigh
01

Why it matters

The pledge increase raises concerns about Oracle's liquidity and credit risk, likely weighing on the stock and broader tech credit spreads.

02

Market read

New filing reveals a material increase in share pledging and record CDS spreads, creating a near‑term downside risk for Oracle and potentially influencing tech‑sector credit sentiment.

03

What to watch

Potential upside from the Warner Bros acquisition financing and any undisclosed cash reserves could mitigate the negative impact.

Relevance 8/10Novelty 8/10Timing: post‑market today

Background

Larry Ellison, Oracle's executive chair and CTO, increased his personal share pledge amid the pending $111 billion Warner Bros acquisition, while Oracle's CDS spreads hit record levels.

Company-level read

Ticker impact

$ORCLBearishHigh confidence
Context

Oracle disclosed a Schedule 14A filing showing Larry Ellison pledged an additional 67 million shares, raising his total pledged shares to about $9 billion and pushing Oracle CDS spreads to a record high.

Expected impact

downward pressure as investors price in higher credit risk and potential liquidity concerns.

Evidence & confidence

A 19% rise in pledged shares and a CDS record indicate market concerns about Oracle's balance sheet and its ability to fund the Warner Bros deal.

Market effects

Sector

Technology sector may see broader credit‑risk scrutiny as Oracle's pledge highlights financing risks for large‑cap software firms.

Regional

U.S. equity markets could see a modest pullback in cloud‑software stocks.

Global

Elevated CDS spreads could affect global credit markets' perception of high‑growth tech issuers.

Counterpoint

What could challenge this read

If the pledged shares are merely collateral and not sold, the market may overreact; the deal could still close, supporting the stock.

Key entities

  • individual
    Larry Ellison

    Oracle executive chair and CTO, pledging additional shares as collateral.

  • company
    Oracle Corporation

    U.S.-listed technology firm (ticker ORCL) facing higher credit risk.

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