A surge in Larry Ellison’s net worth to rival that of world’s richest man Elon Musk has put into renewed focus on his philanthropy.
The founder of Oracle Corp. and potential TikTok overlord in the US has decided to give away 95% of his wealth as part of a ‘Giving Pledge’ signed in 2010. He hasn’t taken the traditional, non-profit route for his donations but has instead set up the Ellison Institute of Technology, a for-profit organisation in a tie-up with Oxford University. Additionally, he has set up the Ellison Medical Foundation, and owns 98% of the Hawaiian island of Lanai, where he supports sustainable agriculture and wellness retreat projects.
Essentially, much of his giving is through foundations or institutes that he controls, rather than non-governmental organisations that are non-profit. Against that backdrop, here’s a look his recent philanthropic moves:
$100 Million For Ellison Institute of Technology
Built at a cost of $1.3 billion, the Oxford-EIT campus is expected to be fully operational by 2027 with research labs, supercomputing facilities, an oncology and preventive care clinic, etc. The priorities are health, climate change, food security, artificial intelligence and government innovation. He recently pledged $100 million for research at the institute.
$200 Million For Cancer Research To USC
Ellison gave $200 million to the University of Southern California for a cancer research centre — the Lawrence J Ellison Institute for Transformative Medicine of USC. The gift is intended to support interdisciplinary work to improve detection, prevention and treatment of cancer, as well community outreach, wellness and preventive programs.
Scholarships Via Oxford/EIT
Ellison is set to fund the education—including tuition, living expenses and internships—of 20 scholars every year at Ellison Institute of Technology. The program is set to begin in October 2025.
{{/usCountry}}Ellison is set to fund the education—including tuition, living expenses and internships—of 20 scholars every year at Ellison Institute of Technology. The program is set to begin in October 2025.
{{/usCountry}}Additionally, and quite controversially, he has made a donation of $16.6 million to ‘The Friends of the Israeli Defence Forces’ for well-being facilities on a new training campus for co-ed infantry units.