1. Bill Gates
Microsoft (MSFT) founder Bill Gates' $37 billion philanthropic organization, the Bill & Melinda Gates Foundation could benefit from a higher interest rate scenario according to IBIS, adding a small silver lining to the default scenario.
The Foundation focuses on solving problems of extreme poverty and poor health in developing countries, while in the U.S. it is working on improving the education system.
Billionaire investor Warren Buffett has teamed up with Gates in their charitable effort. In 2006, he announced that he would start giving much of his fortune to philanthropic causes, including a pledge to donate 10 million shares of Berkshire Hathaway (BRK-A) stock to the Bill & Melinda Gates Foundation Asset Trust.In the 2011 annual letter, Gates made a special plea to governments to not cut their foreign aid. "Although foreign aid accounts for less than 1 percent of governments' total budgets, it is one place being considered for cuts. As a result, health and agricultural assistance that saves lives and puts poor countries on a track for self-sufficiency is at risk," he wrote. "..In the past some aid was sent to countries to buy friendship without real regard for its impact. However, today a significant portion of foreign aid is spent on hugely beneficial programs that improve people's lives in both the near and long term." --Written by Shanthi Bharatwaj in New York
>To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: email@example.com. Free Download: TheStreet's free iPad app offers breaking economic news on the go. Watch video demonstrations of the app's capabilities here, or download it directly from the iTunes store.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV