Larry Ellison Pledges 95% of His $350 Billion Fortune to Philanthropy: Inside the Oracle Co-Founder's Giving Journey

Oracle co-founder Larry Ellison has pledged to donate 95 per cent of his fortune. The 81-year-old billionaire is the world's second-richest person, with a net worth estimated at $350 billion, as per Forbes.

His immense wealth has been significantly enhanced by Oracle's stock surge, driven by the artificial intelligence boom. Earlier this month, he momentarily surpassed Elon Musk to claim the position of the world's wealthiest individual.

Larry Ellison made his philanthropic commitment back in 2010 as part of the Giving Pledge initiative, promising to donate the majority of his vast fortune. As Oracle's Chief Technology Officer, his dedication to giving has materialized in several significant ventures.

He established the Ellison Institute of Technology (EIT), a for-profit organization working in collaboration with Oxford University. This institute concentrates on addressing critical global challenges including healthcare improvement, climate change mitigation, food insecurity solutions, and artificial intelligence research advancement.

Previously, Ellison founded the Ellison Medical Foundation, which focused primarily on aging research and disease prevention before its operations were concluded.

However, concerns have emerged regarding his philanthropic endeavors. In 2024, Ellison appointed scientist John Bell to lead EIT's research initiatives. By August, former University of Michigan President Santa Ono joined to collaborate with Bell, but Bell departed just two weeks later, describing it as a "very challenging project."

The New York Times reported tensions regarding "how best to commercialize Mr Ellison's scientific research, along with persistent questions about how much the institute could trust Mr Ellison to deliver on his financial commitments."

Throughout the years, Ellison has made notable philanthropic contributions. He donated $200 million to the University of Southern California to establish a cancer research center and approximately $1 billion to the Ellison Medical Foundation.

The Oxford EIT campus, valued at an impressive $1.3 billion, is scheduled to open by 2027, representing another significant philanthropic investment.

Ellison's enormous wealth stems primarily from his 41 percent ownership stake in Oracle, substantial investments in Tesla, and nearly 50 percent ownership in media company Paramount Skydance.

He served on Tesla's board from 2018 to 2022, owning 45 million split-adjusted shares before stepping down. In 2020, Ellison relocated to the Hawaiian island of Lanai, which he had purchased almost entirely in 2012 for $300 million.