Thursday, July 15, 2010

Microsoft Billionaire Allen To Give Fortune To Charity

Billionaire Paul Allen, one of the founders of Microsoft Corp., said Thursday that he is planning to leave the majority of his estate to his charity foundation, the Paul G. Allen Family Foundation. The group provides grants to nonprofits in the Pacific Northwest. Allen is worth an estimated $20 billion. According to Allen, he said the move would allow his philanthropic efforts to continue after his lifetime. Allen said "I’ve planned for many years now that the majority of my estate will be left to philanthropy to continue the work of the Foundation and to fund non-profit scientific research." The announcement was made on the 20th anniversary of the establishment of the foundation.