Larry Ellison, the world’s second-richest person, has pledged to give away 95 per cent of his fortune. He is the co-founder, chairman and CTO of the software giant Oracle. His wealth has grown rapidly in recent months, thanks to a surge in Oracle’s stock driven by the AI boom. The 81-year-old billionaire briefly surpassed Elon Musk as the world’s richest person earlier this month. But why does Ellison want to donate most of his wealth?

Ellison's pledge in 2010

Ellison made his pledge in 2010 as part of the Giving Pledge, promising to donate 95 per cent of his wealth. However, he hasn’t taken the traditional, non-profit route for his donations. Rather, he established the Ellison Institute of Technology (EIT), a for-profit organisation in a partnership with Oxford University. EIT work

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