Larry Ellison, the co-founder of tech giant Oracle and the second-richest person in the world, has announced a transformative philanthropic venture — the launch of a global technical institute focused on solving some of humanity’s most pressing issues.
This groundbreaking initiative, titled the Ellison Institute of Technology (EIT), has been established in collaboration with the University of Oxford, one of the world’s most prestigious academic institutions.
Ellison took to X (formerly Twitter) to share the news, stating:
“Years ago, along with Bill Gates, Warren Buffett and others, I declared support for the Giving Pledge because I believed and continue to believe that practicing philanthropy by giving to nonprofit organizations that pursue public good is important.”
However, he also expressed a desire to evolve his approach to philanthropy, adding:
“But there are additional ways that I would like to invest my time and resources in giving back to the world we share. Recently, my family founded a new technical institute in partnership with the University of Oxford.”
Ellison laid out the primary mission of the Ellison Institute of Technology, focusing on high-impact, scalable solutions to three of the world’s most critical challenges:
“EIT’s humane endeavors include transforming healthcare by designing and distributing a new generation of life-saving drugs, combating world hunger by engineering higher yielding crops and building a global network of low-cost indoor growing systems, and slowing climate change by developing efficient clean energy generation and storage systems.”
This initiative positions EIT as a tech-driven think tank and innovation hub that merges science, engineering, and humanitarian goals.
In a clear statement of intent to go beyond traditional philanthropic giving, Ellison concluded:
“So, I am amending my giving pledge and promising to do more by concentrating my resources on the Institute. I believe this will improve our chances of delivering practical solutions to the problems of hunger, healthcare and climate change.”
This move signals a strategic redirection of Ellison's immense wealth toward impact-focused technological development — with a goal of delivering measurable change.
Lawrence Joseph Ellison, born on August 17, 1944, is one of Silicon Valley’s most iconic figures. He co-founded Oracle Corporation in 1977 and served as its CEO until 2014. Currently, he holds the roles of Chief Technology Officer and Executive Chairman of the company.
As of July 2025, Ellison's estimated net worth stands at:
$257 billion, according to Bloomberg
$286.8 billion, according to Forbes
In addition to his business ventures, Ellison owns 98% of Lānaʻi, the sixth-largest island in Hawaii, where he has invested in sustainable agriculture and wellness tourism.
Larry Ellison’s launch of the Ellison Institute of Technology marks a significant evolution in philanthropic strategy—shifting from traditional charitable donations to innovation-led problem-solving. By partnering with the University of Oxford, Ellison aims to harness world-class academic expertise to develop impactful solutions in healthcare, agriculture, and clean energy.
This initiative is not only a testament to his long-standing commitment to the Giving Pledge but also a reflection of his belief in using technology to drive humanitarian progress. As the world grapples with interconnected crises like climate change, hunger, and health inequities, the EIT represents a bold step toward sustainable global transformation. \
With Ellison dedicating a substantial portion of his vast wealth—estimated at over $280 billion—to this cause, the institute has the potential to become a powerful force for good. Ultimately, Ellison’s endeavor may inspire other billionaires to reimagine how their resources can deliver measurable, long-term global impact.