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January 18, 2017

Daily News Roundup: Gates Foundation Plans $9.6 Billion Berkshire Sell-Off

Gates Fund to Sell Most Berkshire Hathaway Stock by 2020: A regulatory filing by the Bill & Melinda Gates Foundation details plans to sell 60 million shares — worth about $9.6 billion at current prices — over the next three years to fund its health and education programs, reports Bloomberg. The grant maker, a chief beneficiary of Berkshire head Warren Buffett’s giving, holds more than 68 million shares in the investment firm.

Lilly Endowment Grants $100 Million to Indianapolis Human-Service Groups: Fifteen charities serving the homeless, the hungry, and other vulnerable populations will get $5 million to $10 million each from the foundation, the Indianapolis Star writes. Much of the money will go toward establishing or strengthening endowments for the nonprofits.

Trump Backer and Museum Trustee Has Given Millions to Climate Skeptics: Rebekah Mercer, an American Museum of Natural History board member and adviser on the president-elect’s transition, has donated through her family foundation to groups like the Heartland Institute that dispute the scientific consensus on global warming, writes The New York Times.

The Mercer Family Foundation is also the source of most of the money raised by the Government Accountability Institute, the conservative nonprofit that published the book Clinton Cash, a highly critical look at the Clinton Foundation’s finances, according to Bloomberg.

Court Halves $433 Million Settlement to K.C. Health Foundation: Ruling in the long-running legal fight between the Health Care Foundation of Greater Kansas City and for-profit medical company HCA over the latter’s purchase of a nonprofit hospital chain, an appellate court reduced the firm’s payment to the foundation to $205 million, the Kansas City Star reports.

GOP Launches New Salvo Against Planned Parenthood: No longer facing a likely presidential veto, congressional Republicans moved to slash Medicaid reimbursements for the women’s- and reproductive-health nonprofit as part of the GOP push to repeal the Affordable Care Act, The Washington Post reports.

Gun-Rights and Suicide-Prevention Groups Forge Alliance: After a year of talks on a possible partnership, the National Sports Shooting Foundation and the American Foundation for Suicide Prevention will advocate together for safe firearms storage in hopes of reducing gun suicides, the Associated Press reports.