Ellison's $40B Media Bet: Philanthropic Capitalism

Larry Ellison, co-founder of Oracle, is making waves in Hollywood with a $40 billion pledge to his sons Skydance studio, merging with Paramount. This isnt charity, but philanthropic capitalism, where billionaires invest in business deals to reshape industries. Ellisons approach differs from traditional philanthropists like MacKenzie Scott, who donate to community groups and racial justice efforts. Ellison invests in extensions of his tech world, now applying it to media, aiming to control studios and platforms that shape global stories. This bold move could redefine Ellisons legacy, proving that for some moguls, true giving means steering capitalism itself toward their vision of the future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.