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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."'"

8 of 191 comments (clear)

  1. 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?

  2. 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

  3. 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.
  4. Favorite Charity. by Rick+Richardson · · Score: 4, Funny


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

  5. 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
  6. 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?
  7. 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
  8. 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?