Google.org to spend 1.1 Billion for 'social impact'

[Rosco T.]

http://www.businessweek.com/technology/content/feb2006/tc20060222_088020.htm

FEBRUARY 22, 2006

Technology
By Jessi Hempel

Google's Brilliant Philanthropist
Founders Larry Page and Sergey Brin have tapped Dr. Larry Brilliant to spend up to $1.1 billion of the outfit's money on what ails the world

Dr. Larry Brilliant has helped the blind to see and has been instrumental in eradicating small pox in India. But these feats may pale in comparison to the challenge that now lies before him. On Feb. 21, Google said Brilliant, an epidemiologist and tech entrepreneur, will become the executive director of Google.org, the Web-search giant's charitable arm. Advertisement

Google (GOOG) founders Larry Page and Sergey Brin have promised shareholders they will make a social impact that will eventually "eclipse Google itself" by tackling the world's problems. In autumn, 2005, they outlined plans for Google.org, a network that includes both a charitable foundation with a $90 million endowment and other forms of social investing (see BW Online, 10/20/05, "Googling for Charity").

The network will focus its charitable endeavors on global poverty, energy, and the environment. Ultimately, Google.org will spend a sum that equals about 1% of the number of shares Google had when it went public. Based on the current stock price, that implies spending of more than $1.1 billion. Says Brilliant, "I'm drinking from a firehose."

(snip)

As Brilliant prepares for his new role, he's already clear on his vision. He says: "In 10 years, I'd like people to say Google changed the world less for its search engine than for the way in which it changed philanthropy to make the world a better place." Given Google's revolutionary impact on the way people search for information, Brilliant's order is a tall one indeed.

http://www.google.org/

[BlueEyedSon]

1. #1 prob: Peak Oil

[brainshrub]

3. #2 Climate change.

[electropop]

2. Brilliant.

How do you get a cool name like that? Apparently, you have to eeeaahrn it the old-fashioned way.

[BlueEyedSon]

4. The old fashioned way, for name as for wealth, is to INHERIT it.

[CJCRANE]

5. Even better is that he's Doctor Brilliant! nt

[4morewars]

6. # 3 Overpopulation

Really, I believe this to be the number 1 problem.

[joeunderdog]

7. #2 will take care of that.

The ice age should kill us all.

[BlueEyedSon]

8. I could be persuaded