Pot loads of cash .... Thank you Mr Buffett
Warren Buffet. What a very lovely man.
Many of you may have heard - Mr Buffet, multi-gazillionaire, owner of Berkshire Hathaway (and hence half the world .... including a good part of Tescos, McDonalds, Coke etc) .... and apparently stock-market investor to God .... has donated almost all his personal fortune to charity .... the great bulk of which will be given to the Gates Foundation and its fight for improved global health and education. Apparently he and Bill play bridge together ...
The exact amount varies according to who you read ... and will definitely vary long term since it's all stocks/shares related ... but essentially its estimated at somewhere between $30 and 40 billion on current valuations.
On of the largest donations ever made by an individual.
In addition he has given several billion to other eponymous charities - which are pro-choice and promote family planning.
And his generosity in one fell swoop elevates the Gates Foundation into being the wealthiest and probaly the most influential player in the game of international health .... not least due to the fact that the charity must spend the amount donated per year within that year .... essentially they must give away over $ 1.5 billion a year .... greater than the GDP of a good few African nations ....
As I have alluded to before - Bill Gates is thankfully unencumbered by ideological chains .... but it is worrisome that the alpha male funding body of the international health world is entirely subject to one man and his wife's idiosyncrasies. It is rather ironically - very unhealthy.
Now I don't want to post yet another polemic about a funding source .... but it does make you think about the role of traditional multilateral funding organisations, and the rise of such personal foundations to fill the gaps.
Perhaps this is inevitable after the self-interested and bungled development packages of the 70s, 80s and 90s. Mistrust is high. At least with such charities - to a greater degree - what you see is what you get .... and the fewer strata you have to deal with ... the less opportunity for "leakage" and the more for accountability. But .... it is worrisome if we keep having to rely on the Bill Gates and Warren Buffetts of this world ...