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Google's Charity Fund

Google Set To Donate $1 Billion To Charity

The founders of the Internet behemoth Google, Larry Page and Sergey Brin decide to set up a subsidiary dedicated to charity.

The whole idea apparently came from Google's motto - "Don't be evil". Trying to do something good, Google decided to devote 1% of its stocks and profits to charitable ventures - about $1 billion.

Among the first to benefit from this are the Acumen Fund ($5 million, anti-poverty and healthcare), a research project in Kenya ($400,000, efforts to improve rural water quality) and Technoserve ($500,000, finding and funding businesses in Ghana).

"It's not a lot of money in the face of the world's problems, so we want to make sure to get the most out of it," declared Google's Vice President of Operations and Advertising, Sheryl Sandberg.