Andrew Carnegie would have had a net worth of $298.3 billion in 2007 dollars, which is huge in any respect and especially for a man who started his career as a poor telegrapher. Carnegie says that the problem of today’s age is the proper administration of wealth and that in bestowing charity the main consideration should be to help those who will help themselves. He advocates continuation of individualism, but also wants millionaire to be a trustee for the poor. Carnegie accumulated a huge fortune in steel industry. He stuck to his philosophy and promoted arts and education by funding various libraries, educational institutions and libraries. That was a little more than a few years back and Carnegie’s millionaire is today’s billionaire.
Two of Carnegie’s noted followers are two of the three richest men of today’s times: Bill Gates and Warren Buffet. They have made the Bill and Melinda Gates Foundation their platform: donating billions of dollars and making the foundation one of the richest in the world. In the U.S., the foundation is more concentrated on education (libraries, scholarships and to educational institutions) while health care and poverty-alleviation take priority globally.
In spite of their commitment towards the foundation, there have been criticisms regarding the Foundation’s mission, control, transparency and so on. It seems like the Foundation and its trustees are being constantly scrutinized. One of the key persons in charge is the CEO of Bill and Melinda Gates Foundation, Patty Stonesifer, former Senior Vice President at Microsoft. Handling an endowment of over $38 billion can be a challenge. Interestingly enough, Stonesifer is stepping down from her position in the Foundation and which adds more fuel to the Foundation’s scrutiny.
What if Warrant Buffet and Bill Gates had just spent their fortunes left, right and front, passed on most of what was left to their families and donated a small part to a trust for charity? Perhaps, they would still be criticized; but just one time! Well, I personally think that they are trying to accomplish the most with what they have and need to be applauded for it!
http://en.wikipedia.org/wiki/Andrew_Carnegied
http://en.wikipedia.ortg/wiki/Patty_Stonesifer
http://blogs.wsj.com/wealth/2008/02/26/the-toughest-job-in-philanthropy-giving-away-3te-billion/
http://philanthropy.com/free/articles/v19/i11/11005201.htm
http://en.wikipedia.org/wiki/Bill_and_Melinda_Gates_Foundation
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment