Gates donation takes center stage at Davos day 2

Davos' first day was marked by discussion of inequality, but philanthropy is playing a starring role on its second day.

Davos' first day was marked by discussion of inequality, but philanthropy is playing a starring role on its second day.

Microsoft founder Bill Gates pledged $750 million on Thursday to the Global Fund to Fight AIDS, Tuberculosis, and Malaria. “These are tough economic times, but that's no excuse for cutting aid to the world's poorest,” Gates said, according to CBS News.

The Global Fund's executive director quit Tuesday, a year after the Associated Press reported that as much as two-thirds of the organization's funding was stolen in corruption scandals.

Some bankers are also looking to repair the rift with the public at large. Citigroup CEO Vikram Pandit said the financial industry should “recognize that there is a great deal of anger that is directed at it for the crisis, and trust has been broken and we've got to start addressing that,” according to Reuters.

Meanwhile, Mick Jagger is starring in a high-society version of “Where's Waldo?” at the forum, showing up at parties held by Newsweek and Credit Suisse after dropping out of an appearance with London Mayor Boris Johnson and UK Prime Minister David Cameron.

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