Billionaires pledge fortunes to charity
Forty of the wealthiest people in the U.S., including T. Boone Pickens, George Lucas and Ted Turner, have pledged to give at least half of their fortunes to charity, commitments that ultimately could total more than $150 billion, Reuters reported Aug. 4 (see billionaires story). The billionaires joined a campaign started by Warren Buffett and Bill Gates.
Investigation could dampen donations to Livestrong
Donations to the cancer foundation started by cycling-great Lance Armstrong could suffer as federal investigators dig into allegations that Armstrong used performance-enhancing drugs, say philanthropy experts, The Los Angeles Times reported Aug. 3 (see Livestrong story). Admitted doper Floyd Landis has accused Armstrong of using banned substances.
Pledges of the ultra-rich should spur ordinary Americans to give
The 40 mega-wealthy individuals who recently pledged to give at least half their fortunes to charity should serve as an example, encouraging all Americans who have the capacity to give to support their local communities as well as causes around the world, The Mercury news wrote in an editorial Aug. 6 (see wealthy donors story).
Department of Education awards mega-grants
The U.S. Department of Education awarded $50 million each to Teach for America and the KIPP Foundation as part of its $650 million Investing in Innovation grant competition, The New York Times reported Aug. 5 (see Department of Education story). In addition, the Success for All Foundation received $49 million and Ohio State University received $46 million.