Intel co-founder Gordon Moore is donating $5 billion to create what will become the seventh-largest charitable foundation in the U.S., the San Francisco Chronicle reported Nov. 16.
The Gordon E. and Betty I. Moore Foundation, which will be financed with part of Moore’s own Intel stock, will focus on scientific research and higher education.
The foundation also will adopt the billionaire’s long-standing commitment to the environment.
In 1998, Moore and his wife donated $35 million to Conservation International to create the Center for Applied Biodiversity Science, a think-tank in Washington D.C.
Moore, the fifth wealthiest man in the U.S., according to Forbes magazine, joins Microsoft chief Bill Gates and computer pioneer David Packard in financing charitable foundations with personal fortunes gained from the success of the computer industry.
The new foundation will bump the Rockefeller Foundation, which reported assets worth $3.8 billion in 1999, from the ranks of the 10 largest U.S. foundations.
For full story, go to the San Francisco Chronicle.