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Article: Gates Foundation feeling the pinch of troubled economy.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- November 26, 2008
CopyrightCOPYRIGHT 2008 Rocky Mountain News. All rights reserved. Reproduced with the permission of Thomson Scientific by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rocky staff and wire reports
The Bill & Melinda Gates Foundation, the world's largest philanthropic foundation, expects to slow the growth of its grant making in 2009 in response to the troubled economy.
The foundation said payouts will rise by about 10 percent next year, less than previously planned.
Started by the Microsoft Corp. co-founder and his wife in 1994, the foundation's international goals include overcoming hunger, poverty and disease. In this country, its focus is on education.
The foundation had an endowment valued at $35.1 billion as of Oct. 1, down $800 million from June, according to The Seattle Times.
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