Larry Ellison, world's second richest man, launches global tech institute with Oxford
Partnering with Oxford, the Oracle co-founder’s Ellison Institute of Technology (EIT), will tackle global crises in healthcare, hunger, and climate change.
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Larry Ellison, the co-founder of Oracle and the world's second-richest man, has launched the Ellison Institute of Technology (EIT) - an initiative aimed at addressing some of humanity's most urgent challenges, as per media reports.
The new institute, created in collaboration with the University of Oxford, marks a significant departure from Ellison's earlier philanthropic path.
In a public post on X, Ellison reflected on his earlier commitment to the Giving Pledge, 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."
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“But there are additional ways that I would like to invest my time and resources in giving back to the world we share,” he continued. “Recently, my family founded a new technical institute in partnership with the University of Oxford.”
The Ellison Institute of Technology is positioned as a high-impact hub of innovation. Its mission spans three major global issues:
Healthcare: Designing and distributing a new generation of life-saving drugs.
Hunger: Engineering higher-yielding crops and developing low-cost indoor farming systems.
Climate Change: Advancing clean energy generation and storage technologies.
“So, I am amending my Giving Pledge and promising to do more by concentrating my resources on the Institute,” Ellison added. “I believe this will improve our chances of delivering practical solutions to the problems of hunger, healthcare, and climate change.”
This pivot reflects Ellison’s evolving view of philanthropy — one that fuses scientific ambition with social responsibility, placing research and innovation at the heart of giving.
About Larry Ellison
Lawrence Joseph Ellison, born in 1944, is a legendary figure in the tech world, having co-founded Oracle Corporation and led it as CEO from 1977 to 2014. He currently serves as the company's Chief Technology Officer and Executive Chairman.
As of July 2025, Ellison holds the title of the world's second-richest person, with a net worth estimated at $257 billion (Bloomberg) and $286.8 billion (Forbes). He also owns 98% of Lānaʻi, the sixth-largest Hawaiian island.
