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HEWLETT-PACKARD FOUNDER TO TRANSFER SHAREHOLDING TO FOUNDATION

Hewlett-Packard Co co-founder David Packard – like Apple, it was born in a garage – plans over the next few years to transfer most of his shares in the company – currently worth some $2,000m – to the David & Lucile Packard Foundation, giving it $100m or so income a year to spend on programmes chosen by Mr Packard: children’s health concerns will feature strongly in honour of one of the principal concerns of his late wife, and support for family planning in the third world; fellowships in engineering and science; and education, family and youth problems, including grants to black colleges will also benefit.

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