Posted by bardonthewire
What would you do, if you ran a foundation with a $60 billion endowment? A rhetorical question, you don’t necessarily have to answer.
Posted on June 27, 2006, in Uncategorized. Bookmark the permalink. 6 Comments.
For me it’s not a rhetorical question (one which doesn’t require an answer)…it’s an imaginary question (one which doesn’t require the question at all.)
What does that figure MEAN????
That’s the kind of money at the disposal of the Gates Foundation, which was set up by Bill & Melinda Gates. A couple of days ago, Warren Buffet willed away close to $30 billion to the foundation, to add to Bill G’s original $30 billion endowment.
Not all that imaginary, really 🙂
I know *WHAT* that figure was, about one rich man giving money to the foundation run by another….but what I was trying to say was….that figure is something I just cannot visualize, it is utterly meaningless to me. I cannot “visualize” more than ten thousand, I think.
oh, that way. 🙂 Sorry, thought you weren’t aware. Yeah, I guess, beyond a point, it’s just a number.
In terms of the ability to do good, the amount the UN and all its associated brachnes/organizations spends is about $10 billion a year. $60 billion, if distributed equally among all the inhabitants of the world, would mean everyone gets $10. If distributed among only those who live below the poverty line in India, that would mean that every one of those poor folks would get about $200, or about Rs.9000.
The United Nations High Commission for Refugees (UNHCR) provides aid, food, shelter and healthcare to the refugees of the world – those displaced by civil war etc. Their projected overall assessed needs for 2006 is $2.35 billion. Their allocated budget is 0.865 billion, leaving them with a $1.785 billion shortfall (money that they need but will never get). The $60 billion, if invested at 5% interest, will provide for enough money to operate the ENTIRE UNHCR programme, forever, and still leave a little money over!! So technically, $60 billion is the amount that can sustainably solve the problems of all the refugees in the world.
Interesting. I guess, the foundation is more focused on education and healthcare, at least for now. Whatever the focus, one has to hope that a lot of good will come out of the money. Maybe even help in changing politics, for the better.
Thanks for the comment.
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