by Playfuls Staff |
29th June 2006
Larry Ellison, chief executive of Oracle Corp., has decided to abandon plans to give at least $100 million to Harvard.[more]
Ellison, speaking in Europe, cited the resignation of Harvard President Lawrence Summers, who leaves the university Friday, as the reason for withdrawing the gift, the Boston Globe reported.
Ellison last year said he was giving Harvard as much as $115 million. The Globe said Harvard was developing "the Ellison Institute for World Health," with the idea that Ellison's endowment would fund the project.
"One can only speculate that this was sort of meant to punish the university for not continuing on with (Summers)," said Walter Willett, chairman of the department of nutrition at the Harvard School of Public Health.
© 2006 UPI
