Word: ellison
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Dates: during 2000-2009
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...JOSE, Calif.—Oracle Corp. Chief Executive Officer Lawrence J. Ellison rescinded a year-old pledge to donate $115 million to Harvard on Wednesday, saying that he had lost confidence in the University’s ability to spend the money now that University President Lawrence H. Summers has resigned...
Summers declined to comment on Ellison's decision, according to his spokesman, John D. Longbrake...
Ellison–whose total net worth is approximately $16 billion and is the 15th richest person in the world, according to Forbes–also announced this week that he will donate $100 million dollars to the Ellison Medical Foundation. That donation was part of an unusual settlement to an insider-trading lawsuit filed by Oracle shareholders after Ellison made $900 million through selling Oracle stock just before its price fell...
That donation is unrelated to the $115 million donation originally intended for Harvard, and Ellison will announce a major gift to another institution in the next few weeks, Oracle spokespeople told Bloomberg...
...when Ellison began discussing his plans for a major donation of more than $100 million dollars, he told the Wall Street Journal that the donation would go to either Harvard or Stanford University...