BFFs with the B&MGF
April 17th, 2007 by Eric
I don’t think it’s a secret to anyone that we’re not big fans of Microsoft’s monopolistic business practices, or the company in general. Hey, I’m using open source software to write this on an Apple computer. But he has spent years of his life and billions of dollars making social progress. It’s hard to make the case that Señor Gates isn’t a social progressive.
In 2000, he and his wife started the Bill and Melinda Gates Foundation, the largest transparent charity on the planet. In their own words, their goal is:
To reduce inequities and improve lives around the world. In developing countries, it focuses on improving health, reducing extreme poverty, and increasing access to technology in public libraries. In the United States, the foundation seeks to ensure that all people have access to a great education and to technology in public libraries. In its local region, it focuses on improving the lives of low-income families.
This foundation doesn’t directly work to make these changes, but rather gives grants to other smaller charitable organizations in a variety of fields and then acts as oversight in order to make sure they are maximizing results. Grants have gone to a broad variety of organizations, from improving agriculture technologies in underdeveloped African nations to improving public education in Texas.
So what kind of money are we talking about? It started with an endowment of $106 million and grew to over $2 billion in just two years. But last year Warren Buffet, the world’s second richest man (behind Gates), donated $30.7 billion dollars, effectively doubling the money the foundation grants each year. Since its inception, the B&MGF has granted nearly $14 billion.
Money can’t do everything, but none of these groups can operate without. If you want to get involved, the Bill and Melinda Gates Foundation website has provided information on how to work in the non-profit and philanthropic province. And if you don’t, well, it’s nice to know that such wealthy people are willing to use their children’s inheritance in the name of progress.
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