News
Market Update
Oracle's Larry Ellison Donated $45M to Pro-Trump Group
Suhaib
Executive summary
Oracle cofounder Larry Ellison contributed approximately $45 million to a nonprofit backing President Trump's 2024 election campaign, according to people familiar with the fundraising. The donation, which was not subject to disclosure rules, came to light through recent reporting and has drawn attention given Oracle's subsequent business wins under the Trump administration.
What happened
Larry Ellison, Oracle's 81-year-old cofounder and the world's sixth-richest person, donated roughly $45 million to a tax-exempt political nonprofit supporting Trump's 2024 presidential campaign. Such contributions are not subject to public disclosure requirements, and the funding had not been previously reported. Ellison has continued making donations to Trump-aligned groups following the election, with Oracle now listed as a corporate sponsor of Freedom 250, an organisation planning events for the nation's 250th anniversary. Unlike many Big Tech executives who have maintained a more public presence alongside Trump, Ellison has taken a quieter approach, skipping high-profile events such as Trump's state visit to China, a White House tech dinner, and the president's 80th birthday UFC celebration.
Why it matters
The previously undisclosed donation has raised questions about the relationship between political contributions and business outcomes for Oracle. The day after Trump's second inauguration, Oracle secured a central role in Stargate, a $500 billion initiative to build AI data centers across the United States, announced at the White House with Ellison present. Oracle also joined the investor group that took over TikTok's U.S. operations following a government-brokered deal, with Trump stating in September 2025 that Oracle and Ellison would play a major role in the app's security and operations. In the same month, Oracle reported $455 billion in remaining performance obligations, representing a 359% year-over-year increase. Federal disclosure documents show Trump's investment accounts actively traded Oracle shares earlier this year, with transactions exceeding $1 million each. The Trump Organization stated the president does not personally direct his investment decisions. The White House has denied favouritism, with spokesperson Kush Desai emphasising Trump's commitment to working with all American businesses.
Bigger picture
Ellison's donations and Oracle's subsequent business gains reflect a broader pattern of Big Tech engagement with the Trump administration. Many technology executives, including Elon Musk, Tim Cook, Kelly Ortberg, and Jensen Huang, have maintained visible relationships with the president through public appearances and events. Ellison's approach differs in its lower profile whilst achieving significant business results. The relationship has also extended to Ellison's family. His son David Ellison, 43, has built a media empire with apparent administration support. The Trump administration approved the merger of David's company, Skydance, with Paramount last year, which closed shortly after Paramount settled Trump's lawsuit against CBS for $16 million. In early 2025, the Justice Department cleared Paramount Skydance's $81 billion takeover of Warner Bros. Discovery without requiring divestitures, despite concerns from some antitrust staff. The deal would give the family control of CNN, a network both Ellison and Trump have criticised. According to people familiar with the matter, the elder Ellison told Trump that a Paramount victory could enable a CNN overhaul. However, California Attorney General Rob Bonta has stated the Warner Bros. Discovery deal remains under investigation by his office. Trump has publicly praised David Ellison, predicting he would outshine his father. Critics note that CBS has undergone changes following the Skydance-Paramount merger. Ellison has not always supported Trump; during the 2024 race, he initially backed Senator Tim Scott of South Carolina and encouraged Trump to select Scott as his running mate before Trump chose JD Vance.
What to watch
Investors should monitor Oracle's execution on the Stargate AI data center initiative and its ongoing role in TikTok's U.S. operations, both of which represent major growth opportunities. The final outcome of the Paramount Skydance-Warner Bros. Discovery merger remains uncertain given California's continuing investigation, and any regulatory obstacles could affect the transaction. Oracle's remaining performance obligations figure of $455 billion and its ability to convert these commitments into revenue will be key metrics in upcoming earnings reports. Broader scrutiny of relationships between political contributions and business outcomes in the technology sector may intensify, particularly regarding undisclosed donations to tax-exempt political groups. Any further developments in federal ethics reviews or disclosure requirements could impact how technology companies engage with government officials.
