Bill & Melinda Gates Foundation,World’s Largest Charity:Philanthropy with a Managerial Approach
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Code : SEP0010
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Region : USA
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Introduction: Bill Gates (Gates), the richest man in the world,2 has inherited the spirit of philanthropy from his parents, Mary and William Gates. Inspired by philanthropistAndrew Carnegie’s ‘TheGospel ofWealth’, Gates, with an endowment of $22 billion, established the Bill &Melinda Gates Foundation in 2000. The Foundation provides funds for various causes in the areas of global health, education, public libraries and to help the poor families in thePacificNorthwest (Washington State, and Greater Portland, Oregon). By 2006, the Foundation had donated $320 million for developing vaccines for HIV/AIDS, tetanus,malaria and other contagious diseases. It also grants scholarships for the underprivileged across the world to help thempursue higher education and computer education.However, unlikemany other charities and philanthropic organizations, Gates has brought amanagerial approach to his initiatives by regularlymonitoring the investmentsmade by the Foundation. There have been instanceswhere the Foundation has stopped funding few projects,which failed to be accountable.While Gates was appreciated for his charitable work, critics observed that his philanthropic work wasmotivated by the desire to enhance his public image.Skeptics also questionwhetherGateswould be able to disseminate the benefits ofmodern science and technology to the developing countries and succeed in upholding the family tradition of doing a ‘good deed for a noble cause’. |
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