Oracle Founder Larry Ellison Pledges to Donate 95% of His Wealth

Oracle co-founder Larry Ellison, currently the world’s second richest individual after Tesla CEO Elon Musk, has made headlines not just for his wealth but for his ambitious philanthropic goals. With a net worth of approximately $373 billion, according to the Bloomberg Billionaires Index, Ellison has seen his fortune surge recently thanks to Oracle’s stock gains fueled by the AI boom. Yet few are aware that he pledged in 2010 to donate 95% of his wealth through the Giving Pledge, a commitment he continues to pursue on his own terms. 

Ellison has moved away from traditional charitable organizations, preferring to direct his philanthropy through his own channels. His main vehicle is the Ellison Institute of Technology (EIT), a for-profit organization based at the University of Oxford, which focuses on tackling global challenges including healthcare, food security, climate change, and AI research. 

A new $1.3 billion EIT campus is expected to open in Oxford by 2027, underscoring the scale of Ellison’s long-term vision. His past contributions include $200 million to the University of Southern California for a cancer research center and around $1 billion to the Ellison Medical Foundation, which focused on aging and disease prevention before it was closed. 

Ellison’s Philanthropy on His Own Terms 

While Ellison’s direct charitable payouts are lower than some of his billionaire peers, his long-term commitments—through the Giving Pledge and the Ellison Institute—amount to billions. Ellison has consistently stated that nearly all of his wealth will ultimately be directed toward philanthropic causes, managed according to his own timeline and priorities. 

Leadership Shifts at Ellison’s For-Profit Institute 

The Ellison Institute of Technology has seen some turbulence in recent years. In 2024, Ellison appointed scientist John Bell to lead research, later adding former University of Michigan president Santa Ono as a collaborator. However, Bell resigned shortly after, describing the initiative as a “very challenging project,” highlighting the complexities of managing large-scale, high-impact scientific endeavors. 

Summary:

Larry Ellison, Oracle founder and the world’s second richest person, plans to donate 95% of his $373 billion fortune primarily through the Ellison Institute of Technology. With multi-billion-dollar initiatives in healthcare, AI, and climate research, Ellison is reshaping philanthropic giving on his own terms while navigating leadership challenges at his for-profit organization.

FAQs: Larry Ellison’s Philanthropy and Wealth Pledge

1. Who is Larry Ellison?

Larry Ellison is the co-founder of Oracle Corporation and currently the world’s second richest person, after Tesla CEO Elon Musk, with a net worth of approximately $373 billion.

2. What is the Giving Pledge and what has Ellison committed?

The Giving Pledge is a campaign encouraging billionaires to commit the majority of their wealth to philanthropic causes. Ellison pledged in 2010 to donate 95% of his wealth and continues to pursue this goal on his own terms.

3. How does Ellison manage his philanthropic efforts?

Ellison primarily channels his philanthropy through the Ellison Institute of Technology (EIT), a for-profit organization based at the University of Oxford that focuses on healthcare, AI research, food security, and climate change.

4. What major projects has Larry Ellison funded?

Some of Ellison’s notable contributions include $200 million to the University of Southern California for a cancer research center and roughly $1 billion to the Ellison Medical Foundation, which focused on aging and disease prevention.

5. What is the Ellison Institute of Technology (EIT)?

EIT is a for-profit organization created by Ellison to address global challenges through research and innovation. A new $1.3 billion campus is expected to open in Oxford by 2027.

6. Why has Ellison moved away from traditional charities?

Ellison prefers to give on his own terms rather than through traditional nonprofits, allowing him greater control over how his wealth is allocated and the timing of his donations.

7. Has EIT faced any challenges?

Yes, EIT has experienced leadership turbulence. In 2024, John Bell was hired to lead research but resigned shortly after, citing the complexity of the project. Former University of Michigan president Santa Ono was also brought in as a collaborator.

8. How does Ellison’s philanthropy compare to other billionaires?

While his direct charitable payouts may be lower than some peers, Ellison’s long-term commitments through the Giving Pledge and EIT amount to billions, reflecting a strategic, high-impact approach to philanthropy.

9. When will Ellison’s Oxford campus open?

The new Ellison Institute campus in Oxford is scheduled to open by 2027, representing one of the largest investments in research infrastructure by a private individual.

10. What are the main focus areas of Ellison’s philanthropy?

His philanthropic initiatives focus on healthcare, aging and disease prevention, AI research, climate change, and food security.