PAUL ELIAS
Associated Press
SAN FRANCISCO - Oracle Corp. co-founder Larry Ellison has settled an insider-trading lawsuit by making the first payment of a $100 million donation, said lawyers representing aggrieved shareholders who sued the billionaire two years ago.
The new funding for the Ellison Medical Foundation, which he launched, comes amid a suddenly energized philanthropic movement led by the world's two richest men, Bill Gates and Warren Buffett. On Sunday, Buffett announced he would leave most of his roughly $42 billion to the Bill and Melinda Gates Foundation, which came on the heels of Gates' own bombshell that he would give up day-to-day oversight of Microsoft Corp. in 2008 to concentrate on philanthropy full time.
Ellison's donation is the result of an unusual legal settlement of a civil complaint that revolves around a $900 million gain that he generated by selling so"
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