Rockefeller: Gates relaunches philanthropy Through his foundation, Microsoft founder is aiming to change charity

There’s a story about Bill Gates that his wife, Melinda, likes to tell. Shortly before the couple established their philanthropic foundation in 1997, Bill carried around in his briefcase for a month an emotional letter from an American family asking him to help a sick child who needed a kidney. “Bill agonized over it,” Melinda recalled at a digital industry conference last month in California. “Do you spend $20,000 on a single transplant or buy vaccines for many children in Africa?”
For the past 10 years, the Gateses have opted for the latter: “How can we do the most good for the greatest number with the resources we have?” Bill asked a sea of Harvard University graduates at their commencement ceremony last year.
The answer? If you’re Bill Gates — with $37.5 billion in your foundation’s coffers and as much as $100 billion to contribute over the course of your lifetime — you do it very, very carefully, say philanthropy leaders. With that kind of wealth comes unprecedented giving power: you have the world’s biggest foundation — the Wal-Mart of the global charity sector — and you’ve got the single most powerful leadership platform in philanthropy today. “One out of every 10 foundation dollars spent is going to have the Gates name on it, and that gives (Gates and his foundation) an influence that is impossible to calculate,” says Rick Cohen, the former executive director of the National Committee for Responsive Philanthropy. Adds Steve Gunderson, president of the 2,000-member Council on Foundations: “Bill Gates is now the face of philanthropy for the country, if not the world” — and like it or not, Gunderson told Contribute Media, “the Gateses will have an obligation to lead and deliver for decades to come.” (By Marcia Stepanek and Cristina Maldonado-www.msnbc.msn.com)