S. Taylor Glover, President and Chief Executive Officer of Turner Enterprises, Inc., today issued the following statement regarding Ted Turner’s $1 billion gift to the United Nations:
“In 1998, Ted Turner created the United Nations Foundation to steward his historic $1 billion gift to the United Nations. The entire amount of the gift was placed in a trust overseen by the Foundation. To date, $760 million has been spent and, per the initial agreement, the rest will be expended by the end of 2014.
The payment schedule was created in close consultation with the United Nations in order to leverage the money most efficiently and have the largest global impact.
Since the UN Foundation was created it has invested more than $1.6 billion — $760 million from Ted Turner’s gift and more than $900 million from individuals, corporations, governments, and private charities—to programs that address key global challenges. The UN Foundation reports that for every dollar it spends, it leverages an additional $1.25 from partners.”