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Court Rules Ellison Must Donate $100M to Charity

Posted by CowboyNeal on from the forced-benevolence dept.

PokeyPenguin writes "As part of a settlement for insider trading allegations, a California judge has ordered that Larry Ellison donate $100 million to charity. CNet reports, 'The charity payments are an unusual way to settle such a case. Typically, settlement payments would go directly to the company, in this case Oracle. "But with Mr. Ellison owning a quarter of Oracle's stock, much of such a direct payment, in effect, would have gone to him."'"

16 of 191 comments (clear)

  1. I've got just the charity! by Anyd · · Score: 3, Funny

    It's called "Feed the Anyds." Seriously though, I'm hungry!

  2. Re:Tax Break by Frankie70 · · Score: 4, Funny

    Won't he get a tax break therefore saving money in the long run?

    Why don't you donate all your money to charity & save money using this
    ruse?

  3. In Other News: Ellison to Borrow Page From T-Rex by The+Amazing+Fish+Boy · · Score: 5, Funny

    http://qwantz.com/index.pl?comic=667

  4. Re:Tax Break by Anonymous Coward · · Score: 1, Funny

    I'm sure the IRS will be aware of the decision.

  5. At press time, charity unreachable by AEton · · Score: 5, Funny

    Representatives from Ellison's selected charity - the little-known 'Human Fund' - were unavailable for comment.

    --
    We recently had heard in the office over one of the Yellow Machine that's made by Anthology Solutions.
    1. Re:At press time, charity unreachable by Basehart · · Score: 2, Funny

      I hear it all went to the SBF (Strange Beard Fund).

  6. Favorite Charity. by Rick+Richardson · · Score: 4, Funny


    Mr. Ellison's favorite charity: LINUX !!!!!

  7. New Ellison Business Plan by trurl7 · · Score: 2, Funny

    Larry Ellison's new business plan:

    1) Change Oracle's status to "Charity"
    2) Donate $100B to the Oracle Charity Fund
    3) Change Oracle's status back to "For Profit Corporation"
    4) Profit!!!

    There's something wrong up there though.... what could it be ??????

  8. In other news by FidelCatsro · · Score: 4, Funny

    Me Ellison recently announced a $400M Dividend to be paid to shareholders

    --
    The only things certain in war are Propaganda and Death. You can never be sure which is which though
    1. Re:In other news by iamdrscience · · Score: 2, Funny
      Was that a slip of the tongue?
      Maybe if he's typing with his mouth.

      Seems like that would get the keyboard a little slobbery though.
  9. Charitable contributions by $RANDOMLUSER · · Score: 2, Funny

    I hear most of it is going to Ellison's own Diplomas are for losers campaign.

    --
    No folly is more costly than the folly of intolerant idealism. - Winston Churchill
  10. To Larry by dolmen.fr · · Score: 1, Funny

    Here is a suggestion: the PosgreSQL project.

  11. A tip for L.E. by Veneratio · · Score: 2, Funny

    As a student in the school of life (and a great follower of the BOFH) I follow the religion called "Order of the Shiny Aura" which requires you to give up all your worldly possessions to achieve the Shiny Aura of happiness! All my wages are directly sent to the church each month.

    Its a good thing i founded that religion myself 2 weeks ago. Its great for a slushfund, perfect for taxes and i can always claim religious days off whenever im on a bender from drinkies with suppliers :)

    --
    "Sarcasm is for *winners*, Alan." - Charlie Harper (Two and a Half Men)
  12. Re:here's a little high school math problem for yo by dwandy · · Score: 4, Funny

    Math is hard.

    --
    If you think imaginary property and real property are the same, when does your house become public domain?
  13. Re:$100 million or $100 million of Oracle software by glwtta · · Score: 4, Funny
    $100 million of Oracle software

    That's what, licenses for a cluster of 2 machines with 4 CPUs each?

    --
    sic transit gloria mundi
  14. No no no. The Bill & Melinda Gates Foundation by Genady · · Score: 5, Funny

    Ellison's lawyers filed an appeal under the 8th Amendment when it was revealed that Ellison would have to give the $100m to the Bill and Melinda Gates Foundation.

    --


    What if it is just turtles all the way down?