Bill & Melinda Gates Foundation set conditions so that these contributions do not simply increase the foundation's endowment, but effectively work as a matching contribution, doubling the foundation's annual giving. Bloomberg News noted, "Buffett's gift came with three conditions for the Bill & Melinda Gates Foundation: Bill or Melinda Gates must be alive and active in its administration; it must continue to qualify as a charity; and each year it must give away an amount equal to the previous year's Berkshire gift, plus an additional amount equal to 5 percent of net assets. Buffett gave the foundation two years to abide by the third requirement."
Preston Gates & Ellis Preston Gates & Ellis Preston Gates & Ellis, LLP, also known as Preston Gates, was a law firm with offices in the United States, China and Taiwan. Its main office was in the IDX Tower in Seattle, Washington. In 2007 the firm ceased to exist, merging with Kirkpatrick & Lockhart Nicholson Graham to form K&L Gates. The "Gates" in the firm's name is William H. Gates, Sr., father of Microsoft founder Bill Gates. Gates retired from the firm in 1998. In 1883, Harold Preston, born 1858 in Illinois, the son of Brig. Gen. Simon Manly Preston, arrived in Seattle and