With an endowment of $38-billion that will essentially double with Warren Buffett’s 2006 commitment to distribute the bulk of his wealth to the fund, the Bill & Melinda Gates Foundation next year will be obligated to give away at least $3-billion annually to avoid paying penalty taxes, reports the Seattle Post-Intelligencer.
Mr. Gates told the newspaper that he plans to spend more time reviewing the strategy of the foundation, which has so far pledged $16.5-billion to various projects, and said he hopes to meet more with recipient organizations that have received research grants. “I’ll be out visiting those sites, talking to the scientists, and going to more conferences,” said Mr. Gates.
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