September 24, 2008 | Read Time: 1 minute
The highlight of this year’s Clinton Global Initiative for most people was a session that focused on Billanthropy — that is, the giving of Bill Clinton and Bill Gates.
In an Oprah-style setting, the former president peppered the technology tycoon with questions about philanthropy, AIDS, and the current economic environment.
Given the financial crisis, Mr. Gates said to get more rich people to give money to charity, “we have to show them it’s fun and there’s impact.”
And despite the stock-market volatility, he said that smart corporations realize that charitable programs will help build future business opportunities in the developing world and help recruit talented people out of college.
“That type of activity will give them an edge,” he said.
He advised the crowd of donors to emulate the Bill & Melinda Gates Foundation’s decision to pick a narrow range of charitable goals to focus on. “At some point, you really do just have to pick,” he said. He said grant makers would be more effective if they adopted that style of giving.
But once those goals are chosen, he encouraged donors to back a variety of approaches. For example, his foundation supports six different efforts to create a vaccine for malaria.
Mr. Gates also said he is enjoying his transition into a full-time role in philanthropy since leaving the Microsoft Corporation this summer. “It’s fun to focus on the foundation,” he said. “I spent all day Monday on malaria.”
