Tech?s legacy lives on through entrepreneur Steve Kirsch and such CEOs as LinkedIn?s Reid Hoffman and Amazon?s Jeff Bezos. In 2010, Facebook CEO Mark Zuckerberg donated $100 million to Newark, N.J., public schools, a struggling district that could use the money to become a laboratory for reforms.
By Jon Swartz on Feb 07, 2012 with Comments 0. Filed under Tech/E-Commerce.
For decades, corporate philanthropy in America was synonymous with financial icons Carnegie, Rockefeller and Vanderbilt.
But technology fortunes have joined in. Hewlett-Packard co-founder William Hewlett and his wife, Flora, set up a private foundation in 1967. The Hewlett Foundation, with grants to educational and cultural institutions, is one of the largest grant-giving entities in the U.S., with assets of more than $7 billion.
The David and Lucile Packard Foundation, named after HP?s other founder, David Packard, was started in 1964 to focus on science and conservation. It has assets of $5.4 billion. ?Charitable work was a natural extension of the HP Way of giving back to the community,? says Peter Hero, founder of The Hero Group, a philanthropy-consulting firm.
Microsoft co-founder Bill Gates and his wife created the Bill & Melinda Gates Foundation, which has granted $26 billion to health and development causes. An armada of Microsoft employees, who struck it rich as the software giant?s stock soared, decided to give back, setting up a number of charitable entities.
Tech?s legacy lives on through entrepreneur Steve Kirsch and such CEOs as LinkedIn?s Reid Hoffman and Amazon?s Jeff Bezos. In 2010, Facebook CEO Mark Zuckerberg donated $100 million to Newark, N.J., public schools, a struggling district that could use the money to become a laboratory for reforms.
Read Full Article in USA Today.com
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Filed Under: Tech/E-Commerce
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