Gates Foundation To Spend All Its Assets

El Lobo writes "The Bill & Melinda Gates Foundation has said it will spend all its assets within 50 years of both of them dying. The foundation focuses on improving health and economic development globally, and improving education and increasing access to technology. It also focuses on fighting diseases such as HIV/AIDS, tuberculosis, and malaria. The Seattle-based foundation plans to increase spending to about $3.5 billion a year beginning in 2009 and continuing through the next decade, up from about $1.75 billion this year." The Wall Street Journal (excerpted at the link above) called the foundation's decision "a decisive move in a continuing debate in philanthropy about whether such groups should live on forever."

Comments

give it back to registered customers

[Anonymous Coward]

after all, it's their money.
So, give it back Mr. Gates.

Actually, I don't think he should give it back, because the Gates foundation can probably do more good with it.
However, I thought I'd throw that line in there, as it is exactly the same line the Republicans used against Bill Clinton when he turned the deficit into a surplus ("give it back Mr. President" were the exact words of one GOP idiot congresswoman who conveniently forgot that the President didn't have the power to do that, while her own GOP controlled congress did).