Billionaire reneges on promise to fund health institute
Benjamin Pimentel, Jessica Guynn, Chronicle Staff Writers
Wednesday, June 28, 2006
It's official: Larry Ellison is walking away from a promise to donate $115 million to Harvard University.
The Oracle Corp. founder and chief executive, the world's 15th-richest person, made headlines in 2005 when, in an interview with The Chronicle, he pledged to make a major donation to Harvard to study world health. But Ellison decided against the donation after Harvard President Lawrence Summers announced his resignation earlier this year. Summers will leave the university on Friday.
'It's official,' said Oracle spokesman Bob Wynne. 'The reason is the relationship he had with Larry Summers, who leaves this week. Larry Summers was the brainchild of this whole concept. With his "