bill and melinda gates foundation

Facebook's Mark Zuckerberg and Others Join Giving Pledge

Facebook's Mark Zuckerberg is the one of the latest billionaires to sign on to the Giving Pledge campaign started by Bill Gates and Melinda Gates and Warren Buffett. The Giving Pledge calls for billionaires to pledge at least half their net worth to charity, in their lifetimes or at death.

The list of those signed on to the Giving Pledge now has 57 families. The recent batch of billionaires include AOL co-founder Steve Case, investor Carl Icahn and Michael Milken who join Larry Ellison, George Lucas and Michael Bloomberg in the ultimate big givers roll call.

"People wait until late in their career to give back. But why wait when there is so much to be done?" said Mark Zuckerberg in a press release. "With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts."

A full list of those taking the pledge and personal letters by many of these pledgers outlining their commitment to give is available online at www.givingpledge.org. Carl Icahn said that "until Bill, Melinda and Warren started this project, I never considered going public with my intentions. However, I certainly see the value of a project that encourages wealthy individuals to step forward and commit to use their wealth for the common good. I hope that by adding my voice with those who are supporting this project, we will all encourage others to participate."

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Gates Foundation Loses Money, Keeps Giving It Away

by Deidre Woollard (RSS feed) —

Filed under: Charity, Big Givers

We've seen plenty of charities suffering in the recession but even the biggest, the Bill & Melinda Gates Foundation isn't immune. The AP reports that between January 2008 and April 2009 the foundation saw its wealth sink from $39 billion to $27.5 billion. The foundation, which was started in 1994, has given away $20.1 billion in the last decade. It paid $2.8 billion in grants and other charitable expenses last year and estimates that it will spend $3.5 billion in grants and related expenses in 2009.The foundation isn't reducing distributions in 2009 but the growth of the distributions has slowed. The foundation continues to be devoted to global health. It recently made a $10 million grant to the United Nation's World Food Program. Gates Foundation CEO Jeff Raikes, a former Microsoft executive, said the economic crisis has caused Bill Gates to increase his focus on the foundation.

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