Tag: the Virgin group

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.

(more…)


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