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Ellison reverses $100 million Harvard donation

June 27, 2006

SAN FRANCISCO (Reuters) – Oracle Corp. Chief Executive
Larry Ellison has reversed his decision to donate some $100
million to Harvard University following the resignation of the
school’s president, Larry Summers, an Oracle spokesman said on
Tuesday.

The decision comes the same week Berkshire Hathaway Inc.
Chief Executive Warren Buffett gifted the bulk of his $44
billion fortune to charity and just after Microsoft Corp.
founder Bill Gates said he would ease out of his day-to-day
role at the company to focus on philanthropy.

Oracle spokesman Bob Wynne said Ellison reconsidered his
decision to fund a program at Harvard to study the quality of
governmental health-care problems worldwide because Summers’
participation was critical.

Harvard officials were not immediately available for
comment.

Summers sparked controversy last year when he said innate
differences between men and women explain why so few women work
in the academic sciences and he became embroiled in several
feuds with faculty members during his time as president. He
announced his resignation in February.

“In light of Summers’ resignation, Larry Ellison has
decided to reconsider his decision,” Wynne said. “There was
never a formal agreement but it had been talked about.”

Instead, Ellison will announce a different contribution
within the next several weeks, although Wynne said he did not
have details about the size of the donation or the recipient.

Oracle also said earlier this week that Ellison would give
$100 million to the Ellison Medical Foundation as part of a
settlement to a shareholder lawsuit charging him with insider
trading.


Source: reuters



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