No real news here - but the magnitude is still surprising:

"Google Inc. hopes to eclipse its success as a company by committing nearly $1 billion to help solve problems including poverty and environmental destruction.

The Mountain View search engine formally unveiled its philanthropic plans Tuesday with the introduction of Google.org, an umbrella organization charged with making the world a better place.

Google's founders, Larry Page and Sergey Brin, outlined their altruistic vision in a letter last year that was part of their company's high-profile initial public offering. The organization they have created will make contributions to nonprofit groups from a foundation, in addition to funding private companies that promise social change. "