Billionaire Adoptions

$WSJ reports on Lyubov Vereshchakova, a Russian billionaire who has basically adopted the Siberian area of Chukotka. He is the area's governor. But more importantly he has used his own money to finance much economic improvement for the area's 50,000 people. The people there love him.

This is a great model for economic development. Perhaps U.S. billionaires could adopt towns of 50,000 or so in Africa and run everything but pay for government services with their own money.