philanthropy

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According to Zimmer, “Philanthropy is important because it provides opportunities. Philanthropy supports projects and endeavours that may be too unpopular or controversial to gain widespread of support of the general public or the government.” (Zimmer, n.d, Importance para 1). In a modern democratic society, Philanthropy is considered and important source of funds to projects and organisations. As private entities, they are not bound to anyone or any government, thus having full control on choosing which projects that they wish to lend their backing. This is the essence of Modern Philanthropy. This assignment will identify three well known philanthropists which are the Bill and Melinda Gates Foundation, Warren Buffet and George Soros. It will then provide details on how their wealth had contributed to make a difference on the global stage.

The first notable Philanthropists are Bill and Melinda Gates, Through Their foundation they have given $15 million to provide means to fund new projects Innovative Sanitation Solutions across the Asian region. Bill Gates achieved his fortune by developing a company named Microsoft Corporations. The company is one of the pioneers to enter the computer software market. Having said that, a huge sum of his wealth is managed by Cascade Investment LLC as well as investment in Ecolab and FEMSA. In 2013, Asian Development Bank in collaboration with the Bill and Melinda Gates Foundation are to finance “more than $28 million in non-sewered sanitation and septage management projects across the region in the next five years” (B&MF,2014, para 2). The projects that are to be funded is the South Asia Urban Knowledge Hub, Pilot and Demonstration Activity Facility and the Septage Management in Coastal Towns ...

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...e poverty are “simple and inexpensive [as] nutrition, health, water, sanitation, education, women's status, agriculture, communications, roads and electricity can lift rural Africans out of severe poverty” (Harch,2014, para 8). In short to help solve the poverty issues in sub-Saharan African region The Open Society Foundation led by George Soros had contributed $50 million.

In short, this assignment indicated that the Bill and Melinda Gates Foundation, Warren buffet and George Soros are three of the most renowned modern philanthropist. Through their wealth they have provided to support change on an international level. From the research that had been undertaken, contributions from philanthropist have helped to provide opportunities. From their contributions, they are able to support projects and endeavours which had difficulties raising funds to support the cause.

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