Differences Between Public and Private Philantropy: The Bill and Melinda Gates Foundation

The gap between wealthy people and the poor has slowly increased over the past decade. Since the beginning of capitalism, along with the spread of globalization, many injustices have attracted public attention. With these moves, the government is also increasingly pressured to help civilians suffering in the world as well. Unfortunately, government aid is considerably limited in development due to government aid programs that may conflict with security problems and the government's own interests.

Melinda Gates has promoted social transformation through the Bill and Melinda Gates Foundation, the world's largest private charity organization, for the past 16 years. She and her husband host donation funds growing to $ 39.6 billion - they also joined Warren Buffett as the third steward. The Foundation funds initiatives aimed at strengthening global health care, reducing global extreme poverty, and expanding educational opportunities and information technology in the United States. However, even if you acquire such a wide license, you can not do everything.

Today, the world is facing new challenges and the demand for innovative solutions is equally enormous. The Bill and Melinda Gates Foundation inspired by the public and private partnership for centuries, the National Institutes of Health Foundation, the Welcome Trust, and the Canadian Institute of Health founded the Grand Challenge in 2003. The premise of the contest is that the task is simple. If you have innovative ideas that could lead to breakthroughs related to complex health issues, any department individuals or organizations can apply for grants. For example, the Great Challenge Exploration Program provides incentives for the world's most talented people, finds solutions to the most pressing problems faced by people in developing countries, and provides groundbreaking ideas for world health We will provide you a million dollars to a million dollars.

Impact of technological innovation: The big challenge requires hundreds of years of history to solve the world's most difficult health problems

The bulk of the funds of the Bill and Melinda Gates Foundation is attributed to Gates' personal assets, starting with a $ 94 million Microsoft stock to establish the William Gates Foundation in 1994. At the age of 43 in 1998, Gates donated one billion dollars to the Foundation. In 1999, Gates and his wife Melinda donated $ 16 billion to Bill and Melinda Gates Foundation. In 2006, investor Warren Buffet dedicated his life to Berkshire Hathaway's equity fund, $ 31 billion. Gifts are paid annually in installments and the most recent donation was $ 2.42 billion on July 10, 2017. So far, Buffett donated $ 2.188 billion to BMGF.