A lot of money….

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.

  1. 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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