Tuesday, January 28, 2014
5 of the Wealthiest Charities in the US
Most billionaires, frugal or not, are big on philanthropy and give back to their communities by donating generously to various causes. Many have started their own charities, and through them, they aim to help those who have less – much less – than them. This is a list of five charities in the US that have the most money to give.
Known as the largest non-operating private foundation in the world, the Bill & Melinda Gates Foundation’s endowment as of June 2013, was calculated at $38.3 billion. It was founded in 1997 as the William H. Gates Foundation with an endowment of $94 million. The name was changed in 1999, and it merged with the Gates Learning Foundation. The charity aims to improve healthcare globally, and to create more access to education and technology in the United States. It relies on its three trustees: Bill and Melinda Gates, and Warren Buffett – who started foundation with a donation of 10 million Berkshire Hathaway Class B shares in 2006.
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