Larry Ellison, World’s Second-Richest Man, Pledges To Give Away 95% Of His Fortune
New York : Larry Ellison, the co-founder of Oracle and the world’s second-richest person after Elon Musk, has pledged to give away most of his fortune. Ellison’s net worth is estimated at $373 billion, largely due to his 41% stake in Oracle and investments in Tesla.
Much of his philanthropy is channelled through the Ellison Institute of Technology (EIT), a for-profit organisation based at the University of Oxford. EIT works on global challenges such as healthcare, climate change, food insecurity, and AI research. Ellison has made several high-profile donations.
He gave $200 million to the University of Southern California to set up a cancer research centre and donated around $1 billion to the Ellison Medical Foundation, which focused on ageing and disease prevention before it was closed. While his direct giving is smaller than some peers, his long-term commitments through EIT and the Giving Pledge total billions of dollars.
Ellison’s for-profit institute has faced some challenges. In 2024, he hired scientist John Bell to lead research, with former University of Michigan president Santa Ono joining to collaborate. Just two weeks later, Bell resigned, calling the project very challenging.
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