> Oracle sponsors this sailboat for about $200 million
That's just Larry's favorite toy, I'd imagine the IRS to be interested in that as a deferred payment rather than Oracles shareholders, whatever floats Larry's boat (pun intended) is fine with them, as long as he delivers.
IIRC Oracle doesn't pay anything, they're name is just on the boat because Ellison wants it to be. He's the one paying for it. But I'm sure the boat is actually owned by a corporation that gets its own write offs.
It's owned by BMW Oracle Racing, which is a separate company whose mission is essentially the same as an F1 team's - get their sponsor's names in everyone's minds by winning stuff on TV.
Comments
> Oracle sponsors this sailboat for about $200 million
That's just Larry's favorite toy, I'd imagine the IRS to be interested in that as a deferred payment rather than Oracles shareholders, whatever floats Larry's boat (pun intended) is fine with them, as long as he delivers.
IIRC Oracle doesn't pay anything, they're name is just on the boat because Ellison wants it to be. He's the one paying for it. But I'm sure the boat is actually owned by a corporation that gets its own write offs.
It's owned by BMW Oracle Racing, which is a separate company whose mission is essentially the same as an F1 team's - get their sponsor's names in everyone's minds by winning stuff on TV.