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News & Press: National Philanthropy News

"$1.1 Billion in Thanks From Bloomberg to Johns Hopkins"

Monday, January 28, 2013   (0 Comments)
Posted by: Buffy Beaudoin-Schwartz
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January 26, 2013

New York Times

[Mayor Michael Bloomberg's] gratitude toward the university, starting with a $5 donation the year after he graduated, has since taken on a supersize, Bloombergian scale.

On Sunday, as he makes a $350 million gift to his alma mater — by far the largest in its history — the New York City mayor, along with the president of the university, will disclose the staggering sum of his donations to Johns Hopkins over the past four decades: $1.1 billion.

That figure, kept quiet even as it transformed every corner of the university, makes Mr. Bloomberg the most generous living donor to any education institution in the United States, according to university officials and philanthropic tallies.

The timing of his latest donation, as the mayor's third term draws to a close, offers a glimpse of the sky-is-the-limit philanthropy that he and his aides say is likely to dominate his life after City Hall.

The mayor, who is 70, has pledged to give away all of his $25 billion fortune before he dies, and he has built up a foundation on the Upper East Side of Manhattan to carry out the task.

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