As His Foundation Has Grown, Gates Has Slowed His Donations
By RANDALL SMITH, NYT
May 26, 2014 9:48 pm
Bill Gates, who as the richest American has become one of the foremost advocates of philanthropy, has reduced the pace of his own giving to the Bill & Melinda Gates Foundation over the last decade.
After starting the foundation with gifts of $356 million from 1994 to 1997, Mr. Gates, the co-founder of Microsoft, vastly expanded it into the nation’s largest with a burst of gifts totaling $24.6 billion over the next four years.
Since then, however, he has dialed back this giving. From 2002 to 2012, he gave $3.7 billion, according to foundation disclosures and data from a Gates spokesman. In that same period, he sold an estimated $22 billion in Microsoft stock.
The pullback reflects the foundation’s rapid growth — to a size that has tested its ability to give away money at the pace required both by law and by the fast-rising contributions of another donor, Warren E. Buffett.
(More here.)
May 26, 2014 9:48 pm
Bill Gates, who as the richest American has become one of the foremost advocates of philanthropy, has reduced the pace of his own giving to the Bill & Melinda Gates Foundation over the last decade.
After starting the foundation with gifts of $356 million from 1994 to 1997, Mr. Gates, the co-founder of Microsoft, vastly expanded it into the nation’s largest with a burst of gifts totaling $24.6 billion over the next four years.
Since then, however, he has dialed back this giving. From 2002 to 2012, he gave $3.7 billion, according to foundation disclosures and data from a Gates spokesman. In that same period, he sold an estimated $22 billion in Microsoft stock.
The pullback reflects the foundation’s rapid growth — to a size that has tested its ability to give away money at the pace required both by law and by the fast-rising contributions of another donor, Warren E. Buffett.
(More here.)
Powered by Blogger
0 Comments:
Post a Comment
<< Home