Billionaire Bill Gates has issued a 20-page look at the state of his foundation, saying it will give out a record amount of money in 2009 even though the stock-market rout has hurt its endowment.
In the letter, aimed at partners of the Bill & Melinda Gates Foundation, Mr. Gates said the value of the charitys endowment dropped 20 per cent in 2008, faring better than many of its peers and many large investment funds.
Kilde: www.worldbank.org