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."
Bill Gates Sr. 1946. He attended the University of Washington (UW) under the G.I. Bill, where he earned a B.A. in 1949 and a law degree in 1950. While at Washington he joined the Chi Psi Fraternity. He co-founded Shidler & King in 1964, which later became Preston Gates & Ellis LLP. He practiced with the firm until 1998, and the firm was merged into the firm now known as K&L Gates (Bill Gates Sr. is not affiliated with the firm). Gates also served on the board of Planned Parenthood. In 1998, Gates retired from PGE. He currently serves on the Board of