Tag: Sir Richard Branson

Larry Ellison; Closet Philanthropist?

Comments (20) July 12, 2012

Ellison's sailing team

Ellison's sailing team

Billionaire Larry Ellison, co-founder and CEO of Oracle, has been busy competing to own the biggest island with fellow billionaires Marc Benioff and Sir Richard Branson. But while he may be fabulous at island shopping, he’s not keeping up with them when it comes to another area: philanthropy.  As we  recently wrote, in addition to his beachfront mansions and jets, Ellison does have his own foundation. But in 2010, while the executive director of Ellison’s foundation was paid nearly a quarter of a million dollars in salary, the foundation only spent about $300,000 on charitable giving. That’s .00083 percent of Ellison’s estimated net worth. Even given this, Ellison still ends up on lists highlighting the most charitable CEOs in the US. Unless Ellison is a closet philanthropist, he’s losing the billionaire giving competition. But we haven’t lost faith in Ellison, maybe he just needs some suggestions on who to give to.

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Hey Larry Ellison, what are you gonna do with all that money?

Comments (33) July 8, 2012

Larry Ellison speaks, but presumably not about philanthropy.

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
net worth.

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