How much influence should a ‘mega-foundation’ have?
June 26th, 2008Posted by: admin
Tomorrow is Bill Gates’ last official day at Microsoft. His energy will now be reoriented toward philanthropic efforts at the Bill & Melinda Gates Foundation. The foundation’s assets currently exceed $37 billion. In 2006, Warren Buffet pledged roughly $31 billion in Berkshire Hathaway stock — at rate of approximately $1.5 billion per year — to the Gates Foundation. The exact dollar value of his pledged donation is impossible to calculate, since it is directly tied to the performance of his stock. Regardless, the current assets and pledged donations to the Gates Foundation exceed $60 billion.