Software Mogul Expected to Give Harvard $115-Million
July 21, 2005 | Read Time: 1 minute
Lawrence J. Ellison, chief executive of Oracle software company, plans to give $115-million to Harvard University, in Cambridge, Mass., to study global health.
University officials said they had not agreed yet on the terms of the gift, but after a report in the Harvard Crimson, the university’s student newspaper, they confirmed that they were in discussions with Mr. Ellison.
A spokeswoman for Mr. Ellison said a gift was in the works, but would not provide details about how the money would be used.
The Crimson, however, said the money would be used to set up five professorships scattered throughout the university’s schools, and to establish an institute that will seek to determine whether global-health projects financed by governments, philanthropies, and others are making a difference. Mr. Ellison told The Wall Street Journal that he hoped the money would monitor spending such as that done by the Bill & Melinda Gates Foundation. Mr. Gates founded Microsoft, one of Oracle’s business rivals.
Mr. Ellison said his money would be used to publish a journal and hire statistical experts to figure out what projects were working efficiently and what ones were not.
Mr. Ellison, who is worth $18.4-billion, according to Forbes magazine, last year reported to The Chronicle that he had given $40-million to the Ellison Medical Foundation.
The Bethesda, Md., organization supports biomedical research on aging, and gives to other causes that have trouble attracting support elsewhere. Mr. Ellison ranked No. 31 on The Chronicle‘s annual list of top donors.