The Bill & Melinda Gates Foundation (B&MGF) is the largest transparently operated On May 11 2006 The Economist reported that the Stichting INGKA Foundation is technically the world's largest private foundation while also alleging that the foundation's primary purposes are tax avoidance and anti-takeover protection for the home furnishings retail group IKEA.1 private foundation in the world, founded by Bill and Melinda Gates. The foundation is "driven by the interests and passions of the Gates family".Guiding Principles The primary aims of the foundation are, globally, to enhance healthcare and reduce extreme poverty, and in America, to expand educational opportunities and access to information technology. The foundation, based in Seattle, Washington, is controlled by its three trustees: Bill Gates, Melinda Gates and Warren Buffett. Other principal officers include Co-Chair William H. Gates, Sr. and Chief Executive Officer Jeff Raikes. It has an endowment of US$35.1 billion as of October 1, 2008. The scale of the foundation and the way it seeks to apply business techniques to giving makes it one of the leaders in the philanthrocapitalism revolution in global philanthropy, though the foundation itself notes that the philanthropic role has limitations. In 2007 its founders were ranked as the second most generous philanthropists in America.

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