Following on from news that Bill Gates is retiring from Microsoft to concentrate on his philantropic interests, and that Warren Buffet is contributing a high percentage of his wealth to the Gates Foundation comes the news that Oracle CEO, Larry Ellison, is struggling to pay his charitable pledges.

Ellison, despite picking up a cool $1.6bn profit last week and Oracle posting record profits, is shying away from a $115m pledge to Harvard University for the establishment of the Ellison Institute of World Health. Despite shaking hands on the deal, although no contract has been signed, the money has not been received by the university and Ellison is now reported to be not returning calls. All this has resulted in three top officials working for the institute being laid off and the 130 jobs that were being created left in limbo.

Ellison is also mired in controversy over a charitable pledge made as part of a lawsuit settlement back in 2004. The unique settlement involved Ellison giving $100million to charity following a civil complaint by Oracle shareholders. The complaint revolved around $900million of Oracle stock Ellison dumped shortly before the company's shares plummeted in 2001. The first $5m of the settlement was paid earlier this month.

So is Ellison feeling the pinch? Are the loan repayments on his brand new 452-foot $250million yacht causing headaches, or has he just found the fuel bills to be a little on the high side? He may have lost the Harvard cheque in the side draw of one of his many houses, or left it on the private jet. Of course there's also the time taken to count the cash, run Oracle and win the America's Cup, all of which may mean that world health will have to wait its time.

The announcement that Bill Gates is to slowly step down from Microsoft over a period of two years, so that he can concentrate his time on the Bill and Melinda Gates Foundation, may have commentators and investors pondering over the future of the Redmond giant but it appears to have struck a chord with Warren Buffett.

The Berkshire Hathaway CEO had previously announced that he was to distribute his wealth on his death, as he felt he would be most able to increase it while he was still alive, leaving more to charities when he did eventually pop his clogs. He's now decided that 85% of his fortune will be distributed gradually, starting immediately, with most going to the Gates' charitable foundation.

To put all this in to contrast, back in April Kiwi Philanthropist, Gareth Morgan, pledged $NZ47m (£17m) to charity. While it dwarfs in comparison to Gates' and Buffett's, Morgan's pledge was the entirety of the windfall he received after the sale of his sons internet auction website, of which he held stock.


Kiwi Philanthropist Donates Website Windfall To Charity

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