Bill & Melinda Gates' $24 Billion Charity "The Gates Foundation often makes grants only on condition that governments or other nonprofits match them, and requires that recipients meet regular goals for performance—or risk losing their funding. (That hardball approach has met with criticism from some members of the philanthropic community, who argue that holding people to ambitious standards may make sense in Redmond but not in places where millions can’t read.) And experts have calculated that improvements in health care themselves have a huge ripple effect in the poorest countries: if parents believe their children will live longer, they save more and reproduce less. That will help create capital for investment, which will spur more development and so on, in a "positive feedback loop," as the techies like to say in Redmond."
posted by owillis
on Jan 31, 2002 -
speaking about socio-economic investments (whether the $200 billion the government is investing into producing the joint service fighter will benefit
our society more if invested elswhere)... the seattle times carried an interesting article about the bill & melinda gates foundation on sunday. with an endowment of $24.2 billion, it must find ways to give away the equivalent of $3.3 million each day, in order to meet federal tax rules to remain a non-profit/tax-free organization.
with so much fund at his disposal, it seems bill gates is attacking neglected social and health problems around the world with more resources than the u.s. government has been doing in some areas. with a small (and less bureaucratic?) staff, the foundation appears to be efficient and focused (reflecting the drive, passion, and result-orientation of bill gates). it will be interesting to watch the progress (and impact) bill has on the world besides what he does at microsoft. i wish him success.
posted by kliuless
on Oct 29, 2001 -