Larry Ellison has abruptly shut down the foundation he spent years setting up - 2020-09-02
Larry Ellison is abruptly shutting down the work of his charitable foundation, Recode has learned, yet another whiplash moment in the philanthropic history of one of the world's richest people.
Ellison has decided to disband the team and program that worked for his sole philanthropy organization, the Larry Ellison Foundation, as part of an attempt to refocus his giving on combating the coronavirus, according to an email sent by the leader of one of Ellison's grantees and obtained by Recode. Ellison will run that upcoming program through a "medical philanthropy" — one that does not currently exist. It is unclear what shape this new effort will take.
The sudden decision reverses at least two years of costly work by Ellison's aides to plot a new path forward for the philanthropic efforts of the Oracle founder, who was seeking another chance to give away his $70 billion after decades of false starts and unmet promises.