World's 2nd-richest person Larry Ellison is going broke
Larry Ellison, Oracle's co-founder and now the world's second-richest person, pledged in 2010 to donate 95% of his wealth—yep, that's most of his $373 billion.
His fortune soared thanks to the AI-fueled boom in Oracle's stock.
This move follows a promise he made back in 2010 when he signed the Giving Pledge, aiming to use his money for more than just traditional charity.
Ellison's big bets in philanthropy
Ellison is putting big resources into the Ellison Institute of Technology at Oxford, which tackles healthcare, climate change, and AI research. The institute is getting a massive new $1.3 billion campus by 2027.
He's also supported cancer research at USC with $200 million and given about $1 billion through his medical foundation—all while making sure he stays involved in how these funds are used.