Intel co-founder gives $5 billion for new foundation
bayarea.com
Posted at 5:54 p.m. PST Wednesday, Nov. 15, 2000
SAN FRANCISCO (AP) -- Intel co-founder Gordon Moore plans to donate about $5 billion of his own Intel stock to establish a new family foundation focusing on education, scientific research and the environment.
Moore's personal fortune of $26 billion ranked him fifth among the nation's wealthiest people in the most recent such survey done by Forbes magazine.
Creation of the Gordon E. and Betty I. Moore Foundation, which will be based in San Francisco, was announced Wednesday.
Lewis Coleman, who will leave his post as chairman of Banc of America Securities to become president of the foundation, said the organization will spend most of next year hiring 50-100 people and could be ready to begin giving out grants in late 2001.
Coleman said the foundation, which will be among the nation's richest, will try to focus on ``scientific research and worthy projects that wouldn't normally be funded by the government.''
``I think on the environment we're probably going to have more of a biodiversity focus as opposed to a cleaner air or cleaner water focus,'' said Coleman, who will begin work at the new foundation early next year.
Moore also is one of the principal financiers behind SETI, the Search for Extraterrestrial Intelligence, but Coleman said such research will not be the focus of the Moore Foundation |
