Making way for Warren Buffett's $1.5 billion in annual contributions [1], the Bill & Melinda Gates Foundation has separated the foundation's investment work and program operations. It also announced that it will dole out all of its money within 50 years of the death of Bill or Melinda Gates, whichever comes later, in order to add a sense of urgency in achieving its charitable goals. The foundation has contributed huge sums to develop new vaccines and other therapies for diseases that have often been overlooked by the big pharma companies as unprofitable.
- check out the report [2] on the foundation from the Seattle Post-Intelligencer
Related Article:
Gates adds $287M to HIV vaccine research. Report [3]
Links:
[1] http://www.fiercebiotech.com/story/editor-s-corner/2006-06-26
[2] http://seattlepi.nwsource.com/local/6420AP_WA_Gates_Foundation_Structure.html
[3] http://www.fiercebiotech.com/story/gates-adds-287m-to-hiv-vaccine-research/2006-07-20