reports today that Bill Gates has topped the list of corporate philanthropists with his latest donation of $6 billion (£3.7billion) worth of Microsoft shares.
This increases the Gates Foundation assets to more than $17 billion, pushing the David and Lucille Packard Foundation, who stem from the Hewlett-Packard computer firm, into second place with assets of $13 billion.
The Wall Street Journal reports that Silicon Graphic’s Richard Belluzzo has resigned as chairman and chief executive of the computer maker. He is expected to join Microsoft's Internet division.
German media company Bertelsmann AG said it recently sold half of its stake in America Online, reports The Wall Street Journal. The company announced that is has sold 7.2 million shares of AOL on Thursday leaving it with 0.7 per cent of AOL's shares. The proceeds of the stock sale will be used in the development of its Internet businesses, including the expansion of AOL Europe, its joint venture with AOL.
The New York Times reports how Metafilmics, a four year old company that specialises in entertainment with spiritual themes, is to produce a film that will be released through the Web. The movie will be distributed by Sightsound.com, a Web site that will charge a fee to those who want to download the movie.
ISP Earthlink Network and the GTE Corporation, a telecommunications company, have joined forces to expand high speed access to the World Wide Web, reports The New York Times. Earthlink announced that the service is to be offered initially in Los Angeles and then commercially in 20 other markets by the end of the year.
The Independent reports how a British firm of chartered accountants Hacker Young has been astonished by the number of visitors it has received to its Web site since it was set up a year ago. The firm was finally enlightened to the discovery that many surfers had visited the site attempting to discover hints on computer hacking.
The Telegraph reports how the software company Misys is to buy Financial Options, the chain of independent financial advisers, for £40 million. Misys, as part of its drive into online financial services, will become one of the biggest independent financial advice networks in Britain.
Newsweek reports that Bill Gates is taking up a more visionary role at Microsoft, moving away from the "Satan of Software" image portrayed by his competitors. According to the magazine, Gates is spending more time wiht his daughter and on his charitable work.
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