Google (GOOG) founders Larry Page and Sergey Brin have promised shareholders they will make a social impact that will eventually "eclipse Google itself" by tackling the world's problems. In autumn, 2005, they outlined plans for Google.org, a network that includes both a charitable foundation with a $90 million endowment and other forms of social investing...
The network will focus its charitable endeavors on global poverty, energy, and the environment. Ultimately, Google.org will spend a sum that equals about 1% of the number of shares Google had when it went public. Based on the current stock price, that implies spending of more than $1.1 billion.
Jessi Hempel [Via: Buisness Week]
Hopefully this won't have a negative affect on their stock value. Check out the article for more details... looks like their just beginning to build this foundation after outlining it last fall.
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