Jeff Raikes, Gates Foundation CEO, Stepping Down
AP  |  Posted: 09/10/2013 12:41 pm EDT  |  Updated: 09/10/2013 1:58 pm EDT
SEATTLE -- Bill and Melinda Gates Foundation CEO Jeff Raikes announced Tuesday he's stepping down.
The 55-year-old Nebraska native and former Microsoft executive says he made a five-year commitment when he took the position in 2008. Raikes will remain on the job until a successor is named.
The Seattle-based foundation is largely funded by Microsoft Chairman Bill Gates and Berkshire Hathaway Chairman Warren Buffett.
The Gates Foundation funds programs to address poverty and poor health in developing countries.
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Hollywood director George Lucas is passionate about education. He has worked to foster positive growth in the education sector through, <a href="http://www.edutopia.org/" target="_hplink">Edutopia</a>, the George Lucas Education Foundation. Lucas plans to donate the majority of his fortune to this end.
Microsoft co-founder Paul Allen has supported his namesake, the <a href="http://www.pgafoundations.com/" target="_hplink">Paul G. Allen Family Foundation</a>, for more than 20 years, as well as helped advance nonprofit scientific research through the Allen Institute for Brain Science. Allen has already given hundreds of millions of dollars to charity through his foundation, and has expressed his commitment to give the <a href="http://www.huffingtonpost.com/2010/07/15/paul-allens-charity-promi_n_648142.html" target="_hplink">majority of his fortune</a> after his death.
The Rockefeller family has historically been involved in philanthropic efforts supporting University of Chicago, <a href="http://www.rockefeller.edu/" target="_hplink">The Rockefeller University</a>, the Museum of Modern Art, and the <a href="http://www.rbf.org/" target="_hplink">Rockefeller Brothers Fund</a>. David Rockfeller, the current heir, has pledged the majority of his wealth to charity.
Mayor of New York City Michael R. Bloomberg plans to give away the majority of his wealth during his lifetime, explaining that it is a better way to ensure a <a href="http://givingpledge.org/#michael+r.+_bloomberg" target="_hplink">better future for his children</a> than leaving them to inherit his fortune. According to Bloomberg, his <a href="http://www.mikebloomberg.com/index.cfm?objectid=B96D19BD-C29C-7CA2-F72C5EDC3BEDFA6A" target="_hplink">foundation</a> is currently working to find ways to prevent early deaths caused by tobacco use and traffic accidents.
Barron Hilton (left) plans to immediately pledge over $1 billion to the <a href="http://www.hiltonfoundation.org/" target="_hplink">Conrad N. Hilton Foundation</a>, which provides funds for nonprofits addressing a variety of issues, including homelessness, access to clean water and disaster relief. Hilton also plans to follow an example set for him by his father, donating the remaining 97 percent of his wealth in the future.
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Billionaire businessman and real estate mogul Eli Broad and his wife, Edythe, have pledged to give away 75 percent of their fortune within their lifetimes. The <a href="http://www.broadfoundation.org/" target="_hplink">Broad Foundation</a> supports arts organizations, funds advancements in medical science and advocates for education reform.

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