July 8, 2012 at 02:33pm
Larry Ellison could use some lessons in philanthropy. The co-founder and CEO of Oracle and third-richest American (and sixth richest person in the world) according to Forbes, has recently made headlines for his purchase of 98% of the Hawaiian island of Lanai. It reportedly cost him between $500 and $600 million. So why exactly would Ellison purchase this sleepy island, with no traffic lights and a strong commitment to native Hawaiian culture and traditions? Rumor has it Ellison bought Lanai to trump his arch rivals, Sir Richard Branson and Marc Benioff. Ellison however, is dead last behind those rivals in terms of philanthropy. Only $300,000 from his foundation went to charities in 2010. That’s only .00083 percent of Ellison’s estimated $36 billion
The Competing Billionaires
Benioff, CEO of Salesforce.com which competes with Oracle, built his own enormous compound on the Big Island of Hawaii. Sir Richard Branson, owner of the Virgin Group, goes head to head with Ellison in the America’s Cup. Lanai is over 1,000 times larger than the one Branson owns in the Caribbean. By buying Lanai, Ellison gets to one up Benioff and Branson in terms of island ownership.
But Ellison’s purchase of Lanai is just one in a long list of extravagant expenditures. He has spent over $100 million on his yacht racing team (BMW Oracle), and $970,000 for his McLaren F1 luxury car and reports have him doling out $100,000 cars to his friends. Ellison sold his yacht, Rising Sun, in 2010. It cost him over $200 million to build. One of his many properties is a 23-acre Woodside, California estate, valued at $70.4 million. After filing a claim that the Woodside home suffers from “significant functional obsolescence,” Ellison received a tax break of $3 million. The break cost the local school district $330,000 in tax revenue. So, despite his wealth, Ellison seems to guard his money like a Chihuahua guarding a squeaky toy.
Funding the Fountain of Youth?
In 2011, Ellison gave away $59.2 million – but all to his own foundation, the Ellison Medical Foundation (wanna be the first to write a review?). The Foundation’s goal is to support research on aging. (We’re glad Larry’s trying to secure his own immortality.) However, at the rate that the Ellison Foundation actually gives, it might take a while… In 2010 the Foundation’s executive director was paid a salary of $248,000 and the Foundation only spent about $300,000 on charitable giving in that same year. And two-thirds of that spending went toward a single symposium on aging. The Foundation received $9 million in grants and gifts that year.
In contrast to Ellison’s miniscule giving, his competitors, Benioff and Branson, have earned accolades for their generosity. Benioff pioneered the 1/1/1 Integrated Philanthropic Model. Under this model, companies donate 1 percent of profits, 1 percent of equity, and 1 percent of employee hours. Benioff’s Salesforce has followed this model. Among other donations, Benioff and his wife have pledged a $100 million gift to University of California San Francisco to build a new children’s hospital in the Mission Bay area of the city. Benioff has already transferred half of the funds; the other half will be given over the next five years. It’s no wonder that Barron’s has named Benioff and his wife as one of its Top 25 Most Effective Philanthropists. Sir Richard Branson is no slouch either, having set up the Branson School of Entrepreneurship in South Africa in order to provide start-ups and micro-enterprises with skills, services, networks and financial help. He also instituted the Virgin Earth Challenge, which each year awards $25 million to the individual or group that comes up with a sustainable plan to remove greenhouse gases from the atmosphere.
Benioff and Branson don’t donate to charities for the purpose of helping themselves. If Larry wants to get like Marc and Rich, he should ramp up his philanthropy, big time.
So we’re asking you, where do you think Larry Ellison should donate his money? What could your favorite nonprofit accomplish with .00083 percent of his estimated net worth? Stay tuned to see GreatNonprofits users’ suggestions about where the Ellison fortune could go!
Related GreatNonprofits posts:
Filed under: Scandals
I am not going to tell you where to spend you bucks or time. I volunteer for many good causes and wish I had more money to give than I do.
I am going to tell you that giving without expecting anything back in return will
give you joy as much as living forever. Pick your own causes, people/charities.
Just try it, you might really like it! Maybe I will see you someday at a shelter
or fund raiser and share the joy.
Dear Mr Ellison, There are many nonprofits where a small donation (<50,000$) could make a huge difference. One Step Closer Therapeutic Riding http://www.osctr.org in Morgan Hill provides physically and mentally challenged people with equine therapy. This therapy makes a difference by addressing the individual challenges with creative experiences with horses. For some, it is as simple as a chance to bond with a horse by grooming and petting the horse. For others it is riding a horse with volunteers providing safety and support by leading the horse and walking beside the horse and rider ensuring that the rider will not fall off. We have some riders who have progressed to riding independently. Every day we see miracles. It be as small as a participant who spends most of her time in pain being able to focus on the joy of being with a horse and smiling or as great as hearing of a child performing better in school because he has practiced sequencing in a fun way on the back of a horse. Your support can change lives.
Hi Mr. Ellison,
How about CommunityGrows! <http://www.communitygrows.org> Right in the San Francisco Bay Area! Getting low-income, at-risk kids out doors—growing, and eating fruits and vegetables, and giving teens stipends to learn about green jobs. These kids turn out to be less violent, better learners, more healthy, great stewards and advocates for the environment, and leaders to their peers and community. You would be supporting the future!
Hey Larry! Here are some really dedicated non-profits that could use your help.
1) Family Outreach of North Texas (Richardson, Plano & Collin County), Dallas, TX. I have been a full-time volunteer with this volunteer-based, non-profit organization for the past 20 years. We offer mentoring for "at risk families", Early Childhood, School-Age and Teen Parenting classes and provide "Good Touch, Bad Touch" programs to the children of our schools. I myself have taught (and still do) literally hundreds of parenting classes to thousands of parents at Job Corps, Prisons (adult and juvenile), Early Childhood Intervention Centers, Recreation Centers, Schools and anywhere else they/are were willing to let me in. There are 3 Family Outreach Organizations in the Dallas area and others across Texas. Several years ago, the state of Texas cut all their ties to non-profits and many of our much-needed centers found it necessary to shut their doors. Your financial help would make it possible to open those doors again!
2) The Dallas Christian Women's Job Corps, Dallas, TX. This is an outstanding non-profit who has the goal of helping women to become financially self-sufficient by providing reading, GED, computer, job-readiness and court-approved parenting classes free of charge to ANYONE who applies. They also make other much needed services such as dental and medical care available free of charge. I have taught their Parenting, Life-Skills and Healthy Relationship classes for the past 4 years. They have other locations around the Dallas area (I do their parenting classes, also) and across Texas. There is a tremendous need, in our area alone, for more of these centers to help women who are single moms, coming out of drug treatment programs and prisons or just re-entering the workforce after years of being a stay-at-home mom, to become financially self-sufficient. To open these centers requires that each one has a full-time Site-Coordinator, to oversee its programs, which is a paid position. I would also like to see this non-profit offer counseling services and childcare which would allow more women to attend.
(There are also Christian Men's Job Corps' which offer the same opportunities. Unfortunately, it is much harder to obtain the funds that are needed to give men the same opportunities that are available to women. I have made it my personal goal to change that!)
we are a non-profit working in central Uganda East Africa caring for children who have been affected by Hiv/Aids .we help children to attain education and live happy life in full,we can use the money to build a vocational institute ,and improve learning environment in our day care centre.www.stmarkinstitute.org
Dear Larry Ellison, I am the founder/CEO to Prophet Reward foundation (PRF),$300,000 will help us to recruit many development potential volunteers all over the world to volunteer abroad Africa in Kenya to improve the living standards of the talented persons in the marginalized and poor communities in Kenya and beyond the borders in community development. http://www.prophetrewardfoundation.org/
@larryellison @fgcnp Dear Larry, $300,000 can help Foundation for Global Collaboration and Peace (http://www.fgcnp.org), a peace and human-rights nonprofit highlighting scientifically proven Universal Human Commonalities, become self sustainable.
As you might know already, war and other large-scale human-induced upheaval, such as a global economic crisis, wreak havoc on both quality of life (for both humans and animals) and the environment, as well as disrupt the knowledge growth and exchange (i.e., scientific breakthroughs on say, the cure to aging and age-related illnesses) that have historically accompanied peace times.
So, by funding FGCNP and other environmentally conscious peace-building organizations, you'll not only help people all over the world build empathy toward each other and peace on local to global levels, you will also aid the continual flow of knowledge and discovery throughout the world, as well as ensure that Lanai remains pristine and unfettered by world strive well into the future.
YouInspire is a 501c3 nonprofit startup that features videos of survivors and those facing serious medical challenges who wish to share their stories of support and encouragement.
With Larry's support, we can assist our members with the following:
a) FILMING STORIES - Many of our members are interested in sharing their stories to make something productive come from their hardships; pass on the inspiration that they received when they needed it most.
b) FURTHER DEVELOP & MAINTAIN PLATFORM - Our members are asking for communication tools to connect on a deeper level with one another. And since our platform is growing with over 120+ members, hosting and maintenance fees are rising.
Larry and others can donate at http://www.youinspire.org/donate/index.do
Safety BratZ(tm) LIVE! Empowering Kids Around the World! SafetyBratZ.TV!
Kids Inc. is a 501(c)3 founded in 1990. In 2012 we launch the most important initiative there is, the empowerment and protection of children by producing cutting edge entertaining content reaching kids and teens on all communications mediums, online and interactively, by mobile device.
Safety BratZ(tm) LIVE! - Ambassadors for Childhood Safety, Worldwide. Kids Empowering kids through Entertainment! Honorary cast consisting of some of YouTube’s most talented kids from different states who’ve agreed to collaborate to produce a line of empowering valuations; Cumulatively reaching over 6 million viewers. http://SafetyBratZ.TV
Support the cast in their first production. Empower these kids so they may empower others around the world! Donations accepted directly on our channel. - Thank You! http://YouTube.com/SafetyBratZLIVE
Dear Larry, I have found several nonprofits that excite me. I would suggest that you set up an automatic monthly donation to Modest Needs, helping the working poor one individual at a time. The applicants are vetted, and the money goes directly to pay an unanticipated overwhelming bill. You will receive a personal thank you email from each funded individual. Plus, I would apply a generous automatic donation to Project of the Month on GlobalGiving. Each month one project is funded, and you receive updates and photos by email. Lastly, I would set up a matching program for donations on DonorsChoose for any area of education that you have an interest in (arts, math, etc.). You will see photos, receive thank you notes, and see exactly what your money is buying. These are up close, personal, and gratifying charities. I give to all three regularly!
Dear Larry, We are a non-profit rescue in the middle of "puppy mill" Missouri! We take in dogs and cats of all ages, health issues, lost, surrendered, mistreated, etc. We also help out the local shelters when they are full by taking some if their animals to make room. We currently have a kennel that houses approximately 175 dogs/cats and then we have about 15 families that are foster/volunteers for the remaining animals. There are times that a foster might have a many as 6 animals at their home. Plus when we have litters of puppies we have 2 designated families that take them in to start them off in a home environment and potty training. Currently we are receiving dog food donations from Wal Mart, but that is only their bags that are broke open or damaged. When we run out then we have to purchase the food. Luckily our vet center that we use lets us just "run a tab" and pay as we can. There are times our bill has been over $10,000.00! But he understands and cares about what we are doing.. It would be nice to be able to find someone that cares a much a we do that could help with a donation just to help us "get ahead"...not to worry about having enough food by the end of the month. Thank you for listening, I am sure you get asked all the time for help, but it never hurts to try! Best Regards, Mary Please visit our website at: www.furrykidsrefuge.org Read some of our success stories!!
We are an arts foundation 4 autism, pending 501c3. I have been trying to find support and funding for over a year, can not find anyone to help. We are seeking funding, donors, supporters, donations of technology, partnerships within the music industry to help people with autism. Our website is http://www.technewszone.com or http://www.youtube.com/technewszone
As an individual with high functioning Aspergersyndrome, a kind of autism, and the father of three kids who are also on the spectrum for this disorder, I have always felt a need to make a difference for the people with autism. I dream of establishing a national organization like the American Heart Association or American Cancer Society to make living on the spectrum better for those with autism related disorders. Utilizing my knowledge and passion fortechnology with my personal experience and interest inautism, I launched http://www.technewszone.com, on January 11, 2011 .
We are a tech-focused state nonprofit. As we get funded we intend to help those on the autism spectrum by using technology-tablets and related computer technology plus the gift of music and the arts, to make the lives of people with autism better, and to support their families and the educational facilities that serve them.
We have a unique approach, view point and ideas.