The power of giving

Bill Gates, the founder of Microsoft, does not necessarily enjoy a reputation for being a nice guy. But few could fail to appreciate his humanitarian interests after the Bill & Melinda Gates Foundation kick‐started the Global Alliance for Vaccines and Immunization with a US$750 million grant to increase access to vaccines in developing countries and boost vaccine development. Since its creation in 2000, the foundation, led by Gates' father, William H. Gates Sr, has given more than US$3 billion to education and global health programmes that are aimed primarily at the developing world. Gates may be the richest private spender on international health, but the money that other private donors and foundations invest also makes a difference, particularly as it demonstrates that private funding is willing to tackle problems that industry and governments cannot, or will not, face.> …the money that other private donors and foundations invest also makes a difference, particularly as it demonstrates that private funding is willing to tackle problems that industry and governments cannot, or will not, faceAt a quick glance, the contribution of private money to research seems rather low: in 2002, non‐profit institutions contributed an estimated 4.2% of the total US$276 billion investment into research and development in the USA; in other countries, statistics show that this percentage is much lower (National Science Board, 2004). However, considering the US government contributed only about 12% of the US$276 billion and more than 70% came from industry, the relative impact of private money on public research becomes more apparent. In addition, private donors have one major advantage over industry or government: they do not have to satisfy shareholders or voters. This freedom, in contrast to restrictions on the use of public money, makes charitable foundations particularly powerful in specific areas. “I think this is an …