Pulse of Truth

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How Larry Ellison is focusing his philanthropic efforts on the Oxford-based, for-profit Ellison Institute of Technology, promising to spend £1B on the project (New York Times) (www.techmeme.com)

submitted 1 week ago by lemmydev2 to c/pulse_of_truth

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New York Times: How Larry Ellison is focusing his philanthropic efforts on the Oxford-based, for-profit Ellison Institute of Technology, promising to spend £1B on the project — Oracle's co-founder and the world's second-richest person pledges to concentrate his vast resources on his own research institute …

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[–] rainwall@piefed.social 2 points 1 week ago* (last edited 1 week ago)

Classic tax dodge. These "charities" are fully under the billionaires control. They can use the money they "donate" on luxury events/housing/services/etc for "fundraising" that they would otherwise have to pay for directly otherwise, after taxes.

The owner of Patagonia did the same thing. Gave all his billions to a "charity" that his son runs.