So, Google has kept to its promise.Last year, during its IPO, its founders had said they would set up a Google Foundation to do “good things for the world”.



The iconic company has set up a $1bn charity fund which will be channelized through its new philanthropic subsidiary, named Google.org, which in turn, will fund social investment projects in the developing world.



1% of Google’s stock and profits - almost $1bn (£573m) -will go to the new charitable venture.



The first beneficiaries include projects to improve water supplies in rural Africa.



One of the best things about tech entrpreneurs are that they are giving out large sums of money to causes they believe in and, most importantly, they give their time too. They monitor the funded projects closely, which is good. Maybe this is a better way of dealing with the develoiping world’s big curse: corrupt leaders and managers.



Via: BBC