Larry Ellison, the World’s Second Richest Man, and His Unique Philanthropy [Tech Talk]

Larry Ellison Establishes Research Institute at Oxford
Alleviating Poverty Through Profit-Making, Not Simple Donations
Tech Billionaires Seek 'Effective Giving' Methods

Larry Ellison, the founder of Oracle and, following Elon Musk, the second richest billionaire in the world as of November 2, 2025, is not only a prominent figure in the tech industry but also a passionate philanthropist. He has pledged to donate up to 95% of his wealth. However, Ellison's approach to philanthropy differs from that of other billionaires. The charitable organization he operates prioritizes profit-making activities in a manner similar to a private enterprise.

Solving Poverty Through Technology... Oracle Founder Builds Mega Research Institute

In addition to Oracle, Ellison also serves as chairman of the Ellison Oxford Institute of Technology (EIT). EIT is a charitable organization he established after signing the Giving Pledge in 2010, promising to share 95% of his wealth with the world. The institute is driven by a vision to solve global poverty and inequality through science and technology.

Larry Ellison, Founder of Oracle. The Asia Business Daily DB

EIT was created in collaboration with the prestigious University of Oxford in the United Kingdom. Ellison purchased a site of approximately 185,000 square meters near the small Oxford village of Littlemore, where he is constructing a state-of-the-art research institute scheduled for completion in 2027. The construction alone has required an investment of about 1.2 billion dollars (approximately 1.71 trillion won). On October 23, he announced an additional investment of 10 billion pounds (about 19 trillion won) to hire 7,000 scientists.

EIT develops technologies related to infectious disease vaccines, climate change management, artificial intelligence and robotics, and food security. All of these are closely linked to global poverty issues. However, the technologies developed by EIT are not provided free of charge to poor countries. EIT clearly states on its website that "all our programs will be commercialized in the long term." In other words, the institute intends to directly sell its products and technologies.

"Solving Social Problems Through Profit-Making Activities"

Ellison's "for-profit philanthropy" sets him apart from the typical approach of American tech billionaires. For example, Bill Gates, the founder of Microsoft, established the Bill & Melinda Gates Foundation with his former wife Melinda French Gates and continues to serve as a trustee. The Bill & Melinda Gates Foundation also supports various scientific projects to address poverty and wealth inequality, but these are nonprofit activities for the purpose of donation.

In contrast, Ellison believes that pursuing private interests can have a more positive impact on the public good than simple donations. In August, The New York Times quoted EIT officials in the UK as saying, "Ellison believes that profit-making activities are better suited to solving difficult problems than traditional philanthropy."

EIT serves as a "public interest startup incubator." Research teams that develop technologies to address inequality and poverty with EIT's support are spun off as private companies. These companies actively expand their market share and deliver innovative technologies that benefit humanity. EIT, in turn, accumulates investment returns and continues to grow. Ultimately, EIT aims to become "an organization that achieves financial independence through its own revenue and reinvests to expand its scale and promote scientific advancement."

Expected Completion Level of Ellison Oxford Engineering Institute (EIT), with an investment of over 20 trillion won. EIT Homepage

Regarding this, Ellison previously wrote on his X (formerly Twitter) account, "I will continue to donate to nonprofit organizations, and I believe nonprofit charities are positive for society," but added, "There are other ways to help the world. I will invest my wealth and time directly to give back to society."

Silicon Valley Grapples With 'Effective Giving'

Ellison is not the only tech billionaire seeking new forms of philanthropy that go beyond simply donating wealth to contribute to society. In 2021, Elon Musk stated, "If you can show exactly how 6 billion dollars (about 8.6 trillion won) can solve world hunger, I will sell my Tesla stock right now." He emphasized, "Effective giving is extremely difficult," and added, "I don't just want to feel satisfied by donating; I want the donation to actually lead to good results."

At one point, a trend called "effective altruism" swept through Silicon Valley as an alternative to traditional charity models. Effective altruism is a theory that suggests greater public good can be achieved through systematic actions based on science, technology, and data analysis. Musk has commented that this approach is closest to his own view of philanthropy. In addition, Dustin Moskovitz, co-founder of Facebook (now Meta), and Jason Matheny, CEO of the RAND Corporation, also identify themselves as effective altruists.