Warren Buffet Gates Foundation is also known as Billy and Melinda Gates Foundation. It is a private charity organization that was established in 2000 and has since earned recognition from different world corners, with many rendering it the world’s largest private charity foundation valued at $38 billion in assets. The major objective of this foundation is to enhance healthcare as well as alleviate poverty from the society alongside expanding educational opportunities as well as access to information technology.
Who Manages The Foundation?
The foundation is controlled by three stakeholders; Bill, Melinda and Warren Buffet. Additional stakeholders include William H Gates as well as Susan Desmond-Hellmann. To maintain its status in the industry, the foundation donates 5 percent of its funds annually. As of mid 2014, the foundation had three major operational units under the guidance of Susan Desmond, the chief executive officer;
• Monitoring results
• Facilitating relationships
• Setting Strategic priorities
As of November 2014, the foundation announced their intention to implement an open access regulation that allowed the publication of data and other information. The policy would also allow for the access of restricted information as well as the reuse of peer-reviewed research by the foundation. The move towards open access of information was tremendously applauded by employees and clients surrounding the Bill Gates Foundation. Until now, the access policy is still functional and supportive of various charity projects.
Warren Buffet is a partner at the Bill Gates Foundation. Recently, he graced news headlines by his generous contribution. Buffet parted with $3.17 billion from his Berkshire Hathaway stock and directed it to the foundation stating it would change other people’s lives in many ways.
Buffet became an integral part of the foundation during its launch. He has since supported it in many ways that have enabled it to leverage its services to different charity organizations as well.