Oracle founder Larry Ellison, currently the world’s second richest person after Tesla CEO Elon Musk, has pledged to donate 95 per cent of his wealth. According to Bloomberg’s Billionaires Index, Ellison’s net worth stands at $373 billion, driven largely by gains in Oracle’s stock during the ongoing AI boom.
Ellison first committed to the Giving Pledge in 2010 but has since preferred to direct his philanthropy on his own terms rather than through traditional nonprofit channels. A significant part of his giving is managed through the Ellison Institute of Technology (EIT), a for-profit organisation based at the University of Oxford. EIT focuses on tackling global challenges such as healthcare, food insecurity, climate change, and AI research.
A new EIT campus worth about $1.3 billion is set to open in Oxford by 2027, marking one of Ellison’s most ambitious philanthropic projects. Over the years, he has contributed $200 million to the University of Southern California to establish a cancer research centre and approximately $1 billion to the Ellison Medical Foundation, which studied ageing and disease prevention before closing.
Although his direct charitable contributions appear smaller compared to some peers, Ellison has made it clear that nearly all his fortune will eventually be channelled into philanthropic work. His commitments through the Giving Pledge and the Ellison Institute already amount to billions.
Recent leadership changes at the Ellison Institute have brought challenges. In 2024, scientist John Bell was appointed to lead research, but he stepped down shortly after, describing it as a “very challenging project.” Former University of Michigan president Santa Ono has since been brought in to collaborate on the institute’s initiatives.
Ellison’s fortune is tied mainly to his 41 per cent stake in Oracle and a substantial investment in Tesla. Despite leadership hurdles at EIT, his long-term vision is clear—most of his wealth will go towards solving pressing global issues through technology-driven solutions.
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