« Business Filter posts in today's print Boston Globe | Main | Pop goes the soda »

Monday, June 26, 2006

The business of philanthropy

Source: Don Dodge's blog

Warren Buffet and Bill Gates have now combined their vast fortunes to create the largest philanthropic pool of money in history. While the amount of money involved is staggering, $30 billion, the way the money will be spent is also what makes it revolutionary. Gates approaches human problems like a business. He wants results - on time and on budget. By applying standard business principles to philanthropy, Gates will likely accomplish things that the U.N. and the Red Cross have never been able to crack. Which isn't to say the Red Cross, the U.N. and countless other humanitarian agencies haven't done a world of good for humanity. They have, they continue to do so, and we need them all. But Buffett knows a good business model when he sees one.

Updated 6/27/06