Outlook Business Desk
Larry Ellison, Oracle's co-founder, CTO, and the world’s second-richest person after Elon Musk, has a net worth of $373 billion. His 41% Oracle stake and Tesla investments, combined with a recent AI-driven stock surge, have significantly boosted his wealth in recent months.
In 2010, Ellison pledged to donate 95% of his wealth through the Giving Pledge. He avoids traditional charities, preferring to direct his philanthropy on his own terms and schedule.
Ellison directs most of his philanthropic efforts through the Ellison Institute of Technology, a for-profit Oxford-based organisation tackling global issues like AI research, healthcare, climate change, and food security.
Meanwhile, a new Ellison Institute campus worth $1.3 billion is planned to be opened on Oxford campus by 2027. The facility will expand research on global challenges and technology innovation.
Over time, Ellison has also made notable donations, including $200 million to University of Southern California (USC) for a cancer research centre and about $1 billion to the Ellison Medical Foundation focused on ageing and disease prevention.
Although Ellison’s direct donations are smaller than some peers, his long-term pledges through the Ellison Institute of Technology and the Giving Pledge total billions. He intends to direct nearly all his wealth to charitable causes on his own terms and timeline.
However, Ellison Institute faced leadership challenges in 2024. In 2024, scientist John Bell was hired to lead research, joined by former University of Michigan president Santa Ono, but Bell resigned within two weeks, describing the project as highly challenging.