Plans are still sketchy about how U.S. billionaire Ted Turner's personal gift of $1 billion in Time Warner Inc. stock will be distributed to the United Nations during the next 10 years.
Although the donation most likely will be handled by a foundation, officials at the Turner Foundation in Atlanta said Mr. Turner also could create a public charity, to which others could contribute.
"It's all an open question at this time," said Peter Bahouth, executive director of the foundation, which has an environmental and world population focus. The foundation received about 3,500 proposals for assistance this year and funded about 500. Mr. Turner, his wife Jane Fonda, and their five children comprise the board.
In his unexpected announcement, which took even his financial advisers by surprise, Mr. Turner said he was putting the rich on notice about the need to donate money.