Court Rules Ellison Must Donate $100M to Charity

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."'"

I've got just the charity!

[Anyd]

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

Re:Tax Break

[Frankie70]

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?

In Other News: Ellison to Borrow Page From T-Rex

[The Amazing Fish Boy]

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

Re:Tax Break

[Anonymous Coward]

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

At press time, charity unreachable

[AEton]

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

Favorite Charity.

[Rick Richardson]

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

Re:At press time, charity unreachable

[Basehart]

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

New Ellison Business Plan

[trurl7]

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 ??????

In other news

[FidelCatsro]

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

Charitable contributions

[$RANDOMLUSER]

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

To Larry

[dolmen.fr]

Here is a suggestion: the PosgreSQL project [postgresql.org].

Re:In other news

[iamdrscience]

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.

A tip for L.E.

[Veneratio]

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 :)

Re:here's a little high school math problem for yo

[dwandy]

Math is hard.

Re:$100 million or $100 million of Oracle software

[glwtta]

$100 million of Oracle software

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

No no no. The Bill & Melinda Gates Foundation

[Genady]

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.