IN 1997, Time-Warner owner Ted Turner pledged US$1bil to the United Nations, translating into a commitment of US$100bil annually for 10 years.
Even though this seems to be the largest gift ever for charitable purposes, Turner’s ability to deliver the promise is very much dependent on the performance of the share market as his net worth of US$3bil is largely in Time-Warner stakeholding. Bill Gates has also setup a perpetual trust fund foundation dedicated to add value to the needy.
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