Intel Co-Founder to Put $5-Billion Into His New Family Foundation

By LAURA HRUBY

Gordon E. Moore, chairman emeritus of the Intel Corporation, and his wife, Betty,

have created a family foundation that over the next two years will receive $5-billion in Intel stock. In making the announcement, Mr. Moore said that most of his fortune — estimated by Forbes magazine to be worth $26-billion — would eventually go to the foundation.

The Gordon E. and Betty I. Moore Foundation, in San Francisco, is likely to rank among the 10 wealthiest in the nation once it receives the full $5-billion.

The foundation plans to focus its grant making in areas where the Moores see unmet financial needs and much potential for important results: higher education, scientific research, and environmental conservation. Support will go to programs in the Bay Area, across the nation, and overseas.

“We plan to take greater risks than conventional funders in order to achieve potentially greater rewards,” explained Mr. Moore, who said he intends to apply the entrepreneurial spirit of Silicon Valley to his philanthropy.

He said he expects the foundation to seek out grantees who may have difficulty finding conventional sources of funds — researchers who have recently switched fields, for example, or innovative conservation programs without a proven track record.

The new fund is scheduled to make its first grants in 2001.

A smaller fund, with assets of approximately $75-million, established by the Moores in 1986 and run by their son, Steven, will continue making grants to a number of organizations, including universities and conservation groups, that have already been selected by the Moore family.

Tradition of Giving

Mr. and Mrs. Moore are longtime philanthropists. In recent years they have given $35-million to Conservation International, an environmental charity in Washington (The Chronicle, November 4, 1999); $15-million to the University of California at Berkeley; $12.5-million to Cambridge University, in England; and $1-million to United Way Silicon Valley, in San Jose, Calif.

The Moores named Lewis W. Coleman, chairman of Banc of America Securities, as president of the new foundation.

The Moores plan to leave operational decisions to Mr. Coleman when he assumes his new role early next year.

ASSETS OF THE WEALTHIEST FOUNDATIONS: A SAMPLING