Bill Gates: The Philanthropist

Bill gates needs no introduction of his profession neither his development in the field of buiness. However, his life as a philanthropist is not known to the world. The difference I could find in him comparing rest of the benefactors is how his goodwill reached the entire globe and not to his own country.

Earlier this year, Bill Gates lost his title as the richest man in the world. Not because Microsoft wasn’t doing well or because he was emulating MC Hammer or Antoine Walker,  but because he gave so much of his money to charity that he lost the coveted top spot. Mexico’s CArlos Slim edged out Gates by around one billion dollars when the riches of both were ranked earlier this year.

The Bill and Melinda Gates Foundation has an endowment of more than $28 billion, with donations totaling more than $1 billion every year. The foundation was formed in 2000 after merging the "Gates Learning Foundation" and "William H. Gates Foundation". Their aim is to "bring innovations in health and learning to the global community".

Bill Gates continues to play a very active role in the workings of the Microsoft Company, but has handed the position of CEO over to Steve Ballmer. He has started that he plans to take on fewer responsibilities at Microsoft and will eventually devote all his time to the Bill and Melinda Gates Foundation.

The foundation allows benefactors access information regarding how its money is being spent, unlike other major charitable organizations such as the Wellcome Trust. As of 2007, Bill and Melinda Gates were the second-most generous philanthropists in America, having given over $28 billion to charity. They plan to eventually give 95% of their wealth to charity.

The Bill & Melinda Gates Foundation is the largest transparently operated private foundation in the world.  It is "driven by the interests and passions of the Gates family". The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty, and in America, to expand educational opportunities and access to information technology. 

To maintain its status as a charitable foundation, it must donate at least 5% of its assets each year. Thus the donations from the foundation each year would amount to over US$1.5 billion at a minimum.

The Foundation has been organized, as of April 2006, into four divisions, including core operations (public relations, finance and administration, human resources, etc.), under the  three grant-making programs:

• Global Health Program
• Global Development Program
• United States Program