Tag Archives: Larry Ellison

Reuters reports: President Donald Trump signed an executive order on Monday ordering the U.S. Treasury and Commerce Departments to create a sovereign wealth fund and said it may purchase TikTok. “We’re going to stand this thing up within the next 12 months. We’re going to monetize the asset side of the U.S. balance sheet for the American people,” he told …

CBS News reports: President Trump is set to announce billions of dollars in private sector investment to build artificial intelligence infrastructure in the United States, CBS News has learned. OpenAI, Softbank and Oracle are planning a joint venture called Stargate, according to multiple people familiar with the deal. SoftBank CEO Masayoshi Son is expected at the White House Tuesday afternoon, …

Ars Technica reports: Elon Musk, Larry Ellison, and other current and former Tesla board members agreed to return over $735 million to settle a shareholder lawsuit that alleged Tesla directors “grossly” overpaid themselves. The Tesla directors, who also include Musk’s brother Kimbal Musk, further agreed to forego stock options and other compensation for board service in 2021, 2022, and 2023. …

The Washington Post reports: Larry Ellison, the billionaire co-founder and chairman of the software company Oracle and the biggest backer of Elon Musk’s attempted Twitter takeover, participated in a call shortly after the 2020 election that focused on strategies for contesting the legitimacy of the vote, according to court documents and a participant. The Nov. 14 call included Sen. Lindsey …

Axios reports: Elon Musk just reported some new friends — equity partners for his Twitter takeover, including some of the biggest names in Silicon Valley. Musk has raised $7 billion in funding for his $44 billion purchase of Twitter, according to a filing released by the Securities and Exchange Commission on Wednesday. Musk said in the filing that he has …

The Verge reports: Oracle CEO Larry Ellison donated $250,000 to a super PAC supporting Sen. Lindsey Graham’s (R-SC) reelection campaign as his company closed in on a coveted position as TikTok’s US technology partner. FEC documents show that Ellison made the $250,000 donation to the Security is Strength PAC on September 14th. The Security is Strength PAC has bought ads …

Bloomberg News reports: Oracle Corp. edged out rival Microsoft Corp. in negotiations for the U.S. operations of TikTok, people familiar with the talks said, as the Chinese-owned music-video app attempts to avoid getting shut down in a clash between the world’s two superpowers. Oracle has nurtured a relationship with Trump since before his administration began. In 2016, Chief Executive Officer …

CNBC reports: President Donald Trump has sought and received advice on tackling the coronavirus crisis in private conversations with several of his allies in the business world, according to people familiar with the matter. There are at least four executives Trump and his team have been in regular contact with, according to the people, who declined to be named due …

Reuters reports: Zoom Video Communications Inc said on Tuesday it has started using Oracle Corp’s cloud computing service to help handle the surge in online video call volumes brought on by the novel coronavirus pandemic. As corporations and schools shift to remote work and billions of people subject to stay-at-home orders seek ways to remain connected, Zoom has seen daily …

NBC News reports: A top HHS official who said he was transferred from his post for pushing back on “efforts to fund potentially dangerous drugs promoted by those with political connections” felt pressured to rush access to chloroquine treatments for coronavirus after Trump had a conversation about it with a mega-rich donor, a source close to the doctor told NBC …

Axios reports: The Trump administration is siding with Oracle in the database giant’s dispute with Google before the Supreme Court — a move that comes as Oracle’s founder hosts a high-dollar fundraiser for the president. Billions of dollars — and, Google argues, the future of software innovation — are at stake as a long-running copyright dispute between the two giant …

USA Today reports: Oracle Chairman Larry Ellison has become one of the few tech moguls to publicly back President Donald Trump’s reelection bid after announcing a Feb. 19 campaign fundraiser to be hosted at his golf course and estate in the California desert. Less than two weeks before California’s Super Tuesday primary election, Ellison will host supporters on a golf …

Billionaire former Oracle CEO Larry Ellison pumped millions into the Romney campaign and he’s about to do the same for Marco Rubio. Ellison will host a fundraiser for the Florida Republican’s White House bid at his mansion in Woodside, Calif., on June 9, according to an invitation obtained by POLITICO. A VIP reception and photo opportunity with Rubio will cost …