The Bill and Melinda Gates Foundation rose to No. 1 after the billionaire couple joined forces with Warren Buffett, chairman of Berkshire Hathaway Inc., to create and promote the Gates-Buffett pledge in which people donate 50 percent or more of their net worth to charity, the weekly newspaper said in its Dec. 6 edition. Gates’ ranked 7th in 2009 because their investments in medical research could take more than a decade to see results, Barron’s said.
Barron’s compiled the list with the consulting firm Global Philanthropy Group, focusing on the “ripple” effect of the gift rather than the amount of money, according to Barron’s.
Omidyar, founder of EBay Inc., ranked second this year for investing in crucial projects including solar-powered light source developments that would provide power for those who live without electricity, Barron’s said.
Jeff Skoll, founder of Capricorn Investment Group LLC and Participant Media, was fourth on the list for his efforts to solve the public school system and other social problems through documentary films, Barron’s said. Jamie and Chris Cooper-Hohn rounded out the top 5 for setting aside profits from their hedge funds to save the lives of children, Barron’s said.
The Gates-Buffett pledge may lead to as much as $239 billion in donations as 40 people worth a combined $254 billion have already committed, Barron’s reported.
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