Berggruen Building a Mini-Davos

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Nicolas Berggruen, an investor and art collector who heads the Berggruen Institute in Los Angeles, is joining a new wave of philanthropists who are reshaping a landscape previously dominated by Bill Gates and George Soros, the New York Times reports. The Berggruen Institute, which has made efforts to reform the California budget, will award an annual $1 million prize in philosophy beginning this year.

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