AS CREATING more monopolies is what Bill Gates is up to these days with his so-called 'charitable foundation', we thought we should take a moment to look at the foundation's role as an investment vehicle, whose choice of investments we criticised before. The reason that we do this is this new article which gives a list of companies that Gates put his money in:
Looking at the Gates Foundation’s holdings from the end of 2009, one can see that the endowment was trimming to its massive Berkshire Hathaway stake. Elsewhere, Gates was making limited moves, adding shares of Mexican broadcaster Grupo Televisa (TV) and vehicle dealer AutoNation (AN).
The Gates Foundation also held steady with large stakes in fast food chain McDonald’s (MCD), beverage maker Coca-Cola (KO), heavy equipment maker Caterpillar (CAT), waste services firm Waste Management (WM), energy giants Exxon Mobil (XOM) and BP (BP) and discount retailer Wal-Mart (WMT).
“Over in Africa, Gates and his investments in oil are killing Nigerian children...”There are many real issues that the press in the West is ignoring. Over in Africa, Gates and his investments in oil are killing Nigerian children (while the foundation is pretending to save lives over there). How about the investments in Caterpillar, which has an atrocious record when it comes to human rights and workers' rights, especially abroad? And McDonald’s? Come on. There are also newer investments in UK retailers which have nothing to do with charity, just profit without obligation to pay tax (that's what makes the foundation so valuable to Gates and Buffett, who also enjoy the PR aspect).
Those who abuse the system in this way are not without enemies. Here we have someone finding to courage to criticise Gates' sheer arrogance in the mainstream press:
By what right does Bill Gates arrogate himself above national leaders?
Microsoft chairman Bill Gates has been held in awe for many years for his business acumen. But since the world’s richest man embarked upon a career change as a global philanthropist his self-importance has blossomed.
On the occasion of the latest global mega gabfest known as the World Economic Forum in Davos, Switzerland, Mr Gates granted interviews to two German newspapers to vaunt his foundation’s work, and then to criticize and shame the Prime Minister of another European country – Italy – for not conforming to Gates’ definition of generosity. Such effrontery is almost unheard of. Is Bill Gates so involved in his own version of the finest in philanthropy that he never had time to learn diplomacy, manners or humility?
Mr Berlusconi, who has provided fodder for the prurient international press with his peccadilloes (which occurred on his Sardinian property and not in the government seat of power as with Bill Clinton in the Oval Office), has become the whipping boy of Bill Gates: his is the sole name on Gates’ “List of Shame.” What for? For allegedly reducing foreign aid as part of the Italian government’s budgetary measures to attempt to reduce a government deficit of 5.3 percent of GDP and an official debt of 115 percent of GDP.
--Barbarians Led by Bill Gates, a book composed
by the daughter of Microsoft's PR mogul