India, Sept. 25 -- A surge in Larry Ellison's net worth to rival that of world's richest man Elon Musk has put into renewed focus on his philanthropy.

The founder of Oracle Corp. and potential TikTok overlord in the US has decided to give away 95% of his wealth as part of a 'Giving Pledge' signed in 2010. He hasn't taken the traditional, non-profit route for his donations but has instead set up the Ellison Institute of Technology, a for-profit organisation in a tie-up with Oxford University. Additionally, he has set up the Ellison Medical Foundation, and owns 98% of the Hawaiian island of Lanai, where he supports sustainable agriculture and wellness retreat projects.

Essentially, much of his giving is through foundations or institutes t...