Saturday, July 08, 2006
Gates' money alone can't cure Africa
The world's reigning king of charity made a declaration: Supersize me, Bill Gates said.
Warren Buffett, the second-richest man in America, made Gates' wish come true last week. Buffett, who is 75, agreed to donate $30 billion of his vast wealth to the charity founded by Gates, the only man in America richer than he is. In accepting Buffett's historic gift, Gates created a breathtaking problem for himself: When it comes to giving away money, is bigger better?
The temptation to choose the path of gigantism is overwhelming, at least for an American business hero. Why Gates and his wife Melinda, who already have by far the world's largest foundation, with more than $30 billion in assets, would want an even better-endowed outfit, is understandable.
See full Article.