Historic Eagle and Child pub set for revival amid billionaire-funded Oxford projects
Billionaires fund labs, pubs, and restaurants in Oxford, raising both opportunities and concerns for local resident
Last updated 11th Mar 2026
Major plans for labs, pubs and restaurants funded by billionaires are moving forward across Oxford, despite concerns about the controversies surrounding their donors.
The Ellison Institute of Technology, which was established by American tech tycoon Larry Ellison, is building a campus at Oxford Science Park in Littlemore, which is set to open in 2027.
The institute also bought the Eagle and Child pub at St Giles for £8 million and is moving ahead with plans to revamp it.
More recently, it launched plans to convert the Chapel and Lodge in Littlemore Hospital into a new restaurant, which are awaiting approval from the council.
Fellow billionaire and founder of Blackrock Stephen A Schwarzman donated £185 million to create the Stephen A Schwarzman Centre, which would be the new home for the University’s humanities department.
Independent Oxford Alliance councillor David Henwood, who represents Rose Hill and Littlemore, said: “On a local level it’s good to see some big developments come to Oxford.
“However, you cannot have your cake and eat it – it brings with it a pandora’s box of other things.
“Will it increase the cost of housing, yes it will.
“It’s difficult to have a view on that when it does actually keep people in work in Littlemore. It’s a doubled edged sword.
“The Ellison Institute should be looking at employing local staff, that’s something I would really push for.”
He added that local residents had been “canvassing the Ellison Institute for play equipment”, which was promised as part of the application for the science park but has not been delivered.
“They should be far more willing to improve the lives of local people. Local residents have put up with a lot.”, Mr Henwood said.
A spokesperson for the institute said that they had contributed funding for the play equipment as part of their developers’ contributions, and that it was down to the council to decide how to spend this funding.
The institute described the new restaurant at the Chapel, which is close to Oxford Science Park, as a place to “host and gather some of Oxford’s greatest minds to share a drink, enjoy a meal, and connect”.
Mr Henwood added: “We do not have a restaurant in Littlemore and it would be great if we could have one, but it has to be affordable.”
The Eagle and Child has been closed since 2020, and is set to reopen in 2027.
Labour councillor Susanna Pressel, who represents Jericho and Osney, said: “A lot of us are fed up with the building work on the Eagle and Child site.
“It has been going on for a long time, it is blocking the pavement and the road, and it looks horrible.
“It will be lovely when the work is finished and we can get our very special pub back.
“A few years ago there were plans to turn the building into a hotel, but now the upper floors will be used for academic purposes.
“This will certainly be more popular with the neighbours.
“There are planning conditions to ensure that the ground floor will see the famous pub restored, so that we can once again go there to remember famous patrons like J.R.R. Tolkien and C.S. Lewis – as well as to have a drink.”
The donors have faced criticism for their political views.
Mr Ellison, who founded Oracle and was briefly named richest man in the world, made a $16.6 million donation to the Friends of the Israel Defence Forces in 2017.
Oxford Against Genocide set up camp outside Magdalen College last May, to protest against the college renting out lab space to Mr Ellison due to these donations.
Both Mr Ellison and Mr Schwarzman are also friends with and supporters of Donald Trump.
An open letter was launched in 2019 opposing the Schwarzman Centre, after Blackstone was identified as a main contributor to the global housing crisis in a UN report, which Blackstone has refuted.
Ms Pressel said: “A lot of residents wish that Oxford University did not keep getting money from controversial people with unsavoury connections.
“We have had Mr Said and Mr Blavatnilk, who I believe were arms-dealers, and more recently Mr Schwarzman and Mr Ellison, who I think are friends of President Trump.
“On the other hand, it is very good for the world of research and discovery to have these massive investments, and of course very good for the old University.
“The city council works hard to make sure there is as much benefit for the city as possible from each of these projects.
“The Ellison development is paying part of the cost of the new Cowley branch line and a new railway station in Littlemore, among other things.
“Much of the ground floor of the new Schwarzman building on the former Radcliffe Hospital site is open to the public and we will also have access to a concert hall, recital studio and 250-seat theatre.
“In many ways Oxford is lucky to be a city with a global reputation.”
A spokesperson for the Ellison Institute of Technology said: “EIT’s contribution and commitment to the city of Oxford is clear in our recent investments.
“On the Cowley Branch Line, for example, we’ve spent over a £1m directly to help progress the project and have committed more than £10m towards the scheme overall which will help boost the city’s economic growth.”
A spokesperson for Oxford University said: “Funders have no influence over how Oxford academics carry out their research, or on our teaching and robust policies on academic freedom.
“All donors are subject to our policies on the acceptance of gifts, and all significant donors and funders must be approved by the University’s Committee to Review Donations and Research Funding, which is a robust, independent system taking legal, ethical and reputational issues into consideration.
“We take the security of our academic work seriously, and work closely with the appropriate Government bodies and legislation.”