­­Some folks who’ve more cash than they’ll probably spend in a lifetime make a valiant effort and simply keep spending. The preliminary endowment consisted of 75,000 shares of Hughes Aircraft stock. ­The Howard Hughes Medical Institute was based in 1953 by aviator, mov­iemaker, and millionaire industrialist Howard Hughes to advertise medical analysis and training. In that year alone, the muse gave out almost $530 million in grants for projects centered on neighborhood and financial development, ed­ucation, media, arts, peace, social justice, and human rights. ­Others take a more philanthropic method, setting u­p foundations to distribute their wealth in areas reminiscent of ed­ucation, medication, or expertise. Immediately, the muse’s mission contains selling democracy, improving training, and decreasing poverty. In June 2006, Warren Buffett, the world’s second richest particular person (behind Gates), pledged ten million shares of his company’s stock (price nearly $31 billion) to the Bill & Melinda Gates Basis. The inspiration distributes grants worldwide within the areas of global growth, training, performing arts, reproductive well being, and environmental points. ­­Founded in 1936 by Edsel Ford and two Ford Motor Company executives, the purpose of the Ford Foundation was to fund scientific, academic, and charitable initiatives. Along with his ample financial gifts, Bill Gates has additionally pledged his time to the foundation, announcing that he will section out of his managerial position at Microsoft by July 2008 to give attention to charity work. The Lilly Endowment is the biggest private basis within the United States to contribute mostly to local projects, with 60 to 70 p.c of its annual funds going to charities in its dwelling state of Indiana. In 1937, Lilly Endowment, Inc., was established by Josiah Ok. Lilly, Sr., and his sons with inventory from Eli Lilly pharmaceuticals firm. The muse’s targets include bettering health care and education, fighting extreme poverty, and offering increased access to info know-how. The Wellcome Belief was founded in London in 1936 on the death of pharmaceuticals mogul Henry Wellcome. The muse’s major recipients are in group improvement, schooling, and religion. Ready to be taught more about the largest foundations on the earth and who runs them? While the endowment, which now totals $10.Eight billion, is 13 p.c of the corporate’s inventory, the inspiration is separate from the pharmaceuticals firm. As of April 2006, the foundation’s endowment exceeded $33 billion, which signifies that to maintain its charitable standing, it should make approximately $1.65 billion in annual charitable contributions. The foundation focuses primarily on bettering the well being of all Americans by helping to provide high quality well being care at an affordable cost, enhancing the standard of care for individuals with chronic illnesses, selling wholesome lifestyles, and lowering the problems attributable to substance abuse. In 2005, the inspiration distributed round $75 million in grants to advertise schooling, international understanding, science and analysis, and health and humanitarian assist. ­The Robert Bosch Stiftung (Robert Bosch Basis) was established in Germany in 1964 to meet the philanthropic and social pursuits of Robert Bosch, founding father of the automotive parts firm Robert Bosch GmbH. Today, the foundation has an endowment of approximately $6.9 billion, of which ninety two p.c is stock in Robert Bosch GmbH. To check out extra of our prime lists, see the hyperlinks on the following web page. With more than $8 billion in assets, the Hewlett Basis donates approximately $300 million annually. Throughout the 2005-2006 fiscal year, the W. K. Kellogg Basis funded $329 million in grants, together with $39 million to areas devastated by Hurricane Katrina. As of September 2005, Wellcome’s endowment was roughly $23.2 billion, making it the biggest charitable foundation in Nice Britain and the second largest on the planet. ­Hewlett-Packard cofounder Invoice Hewlett and his spouse, Flora, formed the William and Flora Hewlett Basis in ­1966 to address social and environmental issues. ­Believing that “all individuals have the inherent capacity to effect change of their lives, in their organizations, and in their communities,” breakfast cereal magnate Will Keith Kellogg founded the W. K. Kellogg Foundation in June 1930. All through his lif­etime, Kellogg donated greater than $sixty six million in Kellogg inventory and different investments to the endowment, which at present has belongings of more than $7.8 billion. Go to the subsequent page to get began. ­The Robert Wooden Johnson Foundation was established in 1936 by Robert Wooden Johnson II, the son of Johnson & Johnson founder Robert Wood Johnson and later a World Battle II army common. ­­Believing that “each life h­as equal worth,” Microsoft cofounder Bill Gates and his wife, Melinda, established their foundation in 2000 with $106 million. ­In 1964, David Packard, the other half of the Hewlett-Packard crew, and his wife, Lucile Salter Packard, established the David & Lucile Packard Basis. With an endowment estimated at $9.Four billion, the Robert Wooden Johnson Foundation made $403 million in grants in 2006 to help these causes. The mission of the Wellcome Trust is to advertise analysis, enhance human and animal well being, and enhance the understanding of science and drugs. It additionally funds applications to help underprivileged communities within the San Francisco space where the inspiration has its h­eadquarters. After Hughes’ dying in 1976, the endowment quickly grew from $4 million in 1975 to $15 million in 1978. Throughout this time, the institute turned extra involved with genetics, immunology, and molecular biology. In its early years, the foundation supported National Academic Television, which was changed by the general public Broadcasting Service in 1970. At the top of 2006, the muse’s endowment was approximately $12 billion. One other improve within the endowment occurred within the mid-1980s when Common Motors purchased Hughes Aircraft, and by September 2005, it had reached practically $15 billion.