The epitome of a kind heart and what wealth was meant for
Bill Gates the founder of Microsoft has taken a new direction with his retirement. Over the last decade the Bill and Melinda gates Foundation has grown from a basement operation to the worlds largest philanthropic organization.
Gates is taking control of this charitable war chest worth $38 billion, soon to be joined with another famous billionaire and the pressure to spend it has increased dramatically. A new headquarters is currently being developed to house the 500 plus employees and it’s expected to double in the next year or so.
The other billionaire behind the organization is none other than the infamous Warren Buffet. This will double the size of the organization capital for expenditures and make the requirement to donate a minimum of $3 billion per year to avoid tax implecations.
Read all about it Gates Foundation is following new paths with philanthropy in the S.F. Chronicle http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/29/BU7211GEKE.DTL&hw=bill+gates&sn=004&sc=862
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Tagged with: bill gates • land banking • new direction • philanthropy • riches • Ryan Wegman • wealth
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