Did you know? Oracle founder Larry Ellison, world’s second-richest man, pledged to donate 95% of fortune

Larry Ellison, co-founder of Oracle and the world’s second-richest person, pledged in 2010 to donate 95 per cent of his $373 billion fortune as part of the Giving Pledge, an initiative encouraging billionaires to dedicate most of their wealth to philanthropic causes. The announcement reflected Ellison’s long-term commitment to addressing global challenges, and it remains one of the largest pledges in history.

Ellison’s net worth has grown sharply in recent months, primarily due to a surge in Oracle’s stock driven by the AI boom. According to Bloomberg’s Billionaires Index, his wealth is estimated at $373 billion, largely stemming from his 41 per cent stake in Oracle and strategic investments in Tesla. Earlier this month, Ellison briefly surpassed Elon Musk as the world’s richest individual, highlighting the rapid growth of his fortune and his influence in the tech and business sectors.

Much of Ellison’s philanthropic work is channelled through the Ellison Institute of Technology (EIT), a for-profit organisation based at the University of Oxford. The institute tackles global challenges such as healthcare, climate change, food insecurity, and AI research. Plans for the institute include a new campus featuring research laboratories, supercomputing facilities, and an oncology and wellness clinic, combining innovation with practical solutions for pressing global issues.

Unlike some of his billionaire peers who make immediate, large donations, Ellison manages his giving according to long-term plans designed to maximise impact. He has already contributed $200 million to the University of Southern California to establish a cancer research centre and around $1 billion to the Ellison Medical Foundation, which focused on ageing and disease prevention before it was closed. His approach prioritises sustainable, strategic contributions rather than short-term publicity.

Despite his substantial contributions, the Ellison Institute has faced challenges. In 2024, the institute recruited scientist John Bell to lead research, with former University of Michigan president Santa Ono joining for collaboration. Bell resigned just two weeks later, describing the project as exceptionally challenging. These early setbacks illustrate the complexity of managing large-scale, high-impact research initiatives.

Ellison’s commitment to donate the majority of his fortune underscores his focus on global challenges through strategic, long-term philanthropy. His model emphasises careful planning, innovation, and partnerships with leading institutions to ensure maximum impact. Ellison has stated that almost all of his wealth will eventually be directed toward charitable causes, following his own carefully structured plans.