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Frank Franklin Ii / AP
New York City Mayor Michael Bloomberg is giving $350 million to his alma mater Johns Hopkins University, making him the school's largest-ever philanthropic benefactor.
New York Mayor Michael Bloomberg is giving $350 million of his multibillion-dollar fortune to his alma mater, Johns Hopkins University, in a gift that will bring his total lifetime donations to the institution to over $1 billion, the school said on Saturday.
Bloomberg's giving to the university over the years makes him its largest-ever philanthropic benefactor, the school said in a statement.
Of the new gift, $250 million will go toward the university's work to tackle global challenges such as the preservation of water resources, while the other $100 million will provide financial aid to undergraduate students, according to the school.
When he was an undergraduate at the Baltimore university, Bloomberg paid for his tuition by taking loans and working as a parking lot attendant. His first Johns Hopkins gift was $5 in 1965, a year after he received his bachelor's degree in engineering.
"Johns Hopkins University has been an important part of my life since I first set foot on campus more than five decades ago," Bloomberg said in a statement. "Each dollar I have given has been well-spent improving the institution and, just as importantly, making its education available to students who might otherwise not be able to afford it."
Bloomberg, now 70, went on to found financial news and information company Bloomberg LP and amassed a fortune estimated by Forbes magazine at $25 billion.
Bloomberg, who was elected mayor of New York in 2001, has said he will give away his fortune before he dies and has set up Bloomberg Philanthropies to distribute gifts. Besides education, his donations have targeted public health initiatives, the environment and the arts.
Bloomberg, chairman of the university's board of trustees from 1996 to 2002, has given the school a total of $1.118 billion, it said.
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Copyright 2013 Thomson Reuters. Click for restrictions.
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He may have his good moments, but also just another rich baffoon shoving his agenda's down people's throats, with his money and influence. Sadly sometimes we get good and the bad from some people.
Where is Fiesty, miss piggy, alaska, and the rest that always are on here?
Feisty is having her gov't funded abortion, as she forgot to take her gov't funded birth control.
LOL AMEN to that! She is too embarassed to support some like Doomburg because he is filthy rich. It's against her religion to like rich people. Fiesty is a filthy pig in need of a government bath!.
Bloomberg=Liberal POS
Like many of these rich liberals, they made their fortune off the blood, sweat and tears of many working people. I show most of my respect to the hard working people, that don't have a lot, but would give the shirt off their back. These are the true great American people.
GEEZ. Cant anyone just say something nice? What have any one of you done lately for your fellow-man except offer up complaints?
Thank you, Mr. Bloomberg, for your generosity. A lot of people will benefit from your kindness.
#1.10 - Sun Jan 27, 2013 9:25 AM PST
A lot of people EXCEPT the thousands that are still without power in New York. Screw you !!!
The less money he has, the less dangerous he is. Keep giving, "Mayor." Feel free to retire also, to someplace where you can give your elitist moral superiority a rest.
Best I can do.
Probably couldn't find a 24oz Pepsi on campus after that. 350 million dollars buys a lot of cave ins to an agenda. Thank goodness that President Stinky (bo) did EVERYTHING for the victims of Sandy, so Bloomie don't have to! When Katrina hit, and it was obvious that Bush the incompetant wasn't doing ANYTHING to help those affected, I openned my wallet to help. Thank GOD we had Sandy to help reelect the President, and thank GOD that Stinks took care of EVERYTHING for those people, so nobody else had to!!
God bless Stinky, and keep that fat-bottomed moochie the fat bottomed moochie that she is. Amen!
Mayor Bloomberg. Based on your statements, I'm hopeful you give it all away very soon.
He have set a fund to give this money to people who lost everything in the hurricane.I think they are much deserving.
Hey Bloomburg! You do know there are still thousands without power in New York from hurricane Sandy???!!! Why don't you donate this to help YOUR citizens. What a joke! This money could help a lot of people who are now homeless. Why isn't the media reporting that there are still thousands without power 3 months later??? Is it they do not want you to know FEMA is a failure? I have family in New York. There are still a LOT without power . This guy is a joke. They need Gulianni back. He was a REAL mayor. Doomburg is a joke.
He is a rich elitist and money will not ever buy him any true friends, just this oldmans opinion he is a stinking jerk.
All of these politicians don't do things like this from the kindness of their heart because if they did then they would give the money to a cause that will help people rather than giving money to a college that probably doesn't need it.
Dear Mayor Bloomberg,
Thank you for choosing to donate money to Johns Hopkins; it will help the University in the the next decade. I did not attend the University; but I have given to schools, because I want to help future generations. I have not given that much just small sums and the schools have not been my Alma mater. I gave to these schools because of the work they perform. Again Sir, thank you for a lifetime of giving.
For all you people that says he should give his money to Victims of Hurricane Sandy; how do you know he did not? When people are rich a lot of them give anonymously and we are not alerted to them giving. He has been giving to the school for years, so this is a normal course of action. The school made the press release because they were excited. They had no idea that they would receive a gift this large. But for your people to sit and judge this man on giving is just duplicitous! You really need to pray about your life and start living before your souls die. Let GOD handle any short comings that people have in their lives, we all just need to work on making sure are lives are worthy. So take 6 months and make the changes in your life and take the next six months and make sure you stay on task. I promise you will not have time to worry about other people's lives.
Have a great year, GOD Bless you and keep you safe!
I wondering if, as a condition of the donation, the school cafeterias are prohibited from serving any soda larger than 16 oz.
Hey Bloomberg! Stay in NYC please with the other freaks. Or, better yet, please emigrate back to Russia.
What's it like to have that kind of money...?
.Sure, it's a nice gesture to a worthy institution... but what about the people in his own state who were affected by Hurricane Sandy? These people lost EVERYTHING and are struggling to survive! I'm sure his donation would have made things a lot easier for them.
It would have been much better to give that money to Hurricane Sandy survivors that are struggling to still find housing. Those "alma maters" already have plenty of money.
So they can squander it?
Some people say you can't take your money with you but they must not keep up on the news witch say the banks are going to hell so why not keep it after you die!?. It would be better to give to help others but how many of the others are dead ass lazy and expect everything given to them?, just think about it for a moment WHO would you give it to?, myself I would give it to who would help out everybody in the world , LIKE whoever is working on the way to save our water-ice caps-forests and places that don't pollute the planet and to fight those that do. But how do you keep the thieves out of those organization that do without SPELLING OUT HOW IT'S USED?. put limits to those salaries. Mr. Bloomberg earned his money and he has a right to spend it as he pleases soooo everyone quit crying about his riches and let him do as he wishes.
Ban soda!!
Can you imagine how much $350 million to disaster relief could do for Sandy victims? I think he suffers from misguided charity when his constituents are out in the cold begging for help. Don't break your arm patting yourself on the back. And let us not forget to applaud the Liberal media for giving him a big kiss on the a*s. I think its also interesting how the Liberals demonized Mitt Romney for being wealthy with around $500 million net worth but its OK for an Elitist Liberal like Bloomy to amass $25 BILLION. The media also doesn't happen to mention of the top 10 wealthiest in Congress, 8 are Demoncrats. You Liberal supporters are docile little sheep easily led and easily brainwashed by your morally corrupt elitist politicians. I wish we didn't all have to pay the price.
Elitist donating to the creation of more elitist. Romney was demonized for giving so much to his church and BYU. Hypoctites.
It never fails to amuse me the depth of ignorance, jealousy and hatred associated with some of these posts. He has earned his money. He can do what he choses to do with it. What are you doing with yours? What has been your contribution to society, your community? You dont have to be a billionaire to donate time or money, so why not go out there and do something other than complain about what other people are doing. And for those who claim its a "bad" time to announce his donation, please let me know when is a good time. When all the natural disasters, crime, violence and poverty ceases to exist? And no, its not his responsibility as Mayor to go into his own pocket and fix NY. Thank you for your generosity Mayor Bloomberg.
VERY WELL PUT! Jamnurse you are wise. I was on the island of mindinoa helping people out of tree tops during a typhoon, it rained over 60 inches in 24 hrs. we used p500's (pump that removes 500 gallon of water a minute) to pump water out of the boat to stay afloat and take them to safe grounds, we moved @ a hundred people and THAT was a great feeling to help save those people and that didn't cost me anything but fuel for the pumps.
Typical Liberal bias. Liberal Elitist EARN their money but the wealthy Republicans only get their's thru
evil. Hypocrites!
jamnurse.....we know its not his financial responsibility to help his constituents but maybe a little moral responsibility might be nice. I know its a difficult concept for liberals to understand.
For those who say help out all those who lost because of that sandy bitch that came ashore, Well I have to buy insurance to cover storms why can't they do the same! The gov. didn't tell you to live next to or on the water and your beach house should not be covered by the tax payers for your luxuries. I was in typhon karen in 1962 wind speed 190 knots (210mph) I survived without tax payers help & The breeze that hit oregon in 62 was 140 to 170 mph, It wasn't even classed as a hurricane. Quit crying and get to work on cleaning it up and be glad your still alive.
It's all nice for Bloomberg to give so much money away. But why all that to one school? To make it a more elitist's school? I suppose this is still a lot better than Romney giving to "his" charity, the Mormon church.
Hypocrite! Another bigoted liberal zealot suffering from Mormon phobia. Our ancesters came here to get away from religious bigotry. I'm not a Mormon but how can giving to ones church and university(BYU) be evil but its okay for elite liberals to promote their university to help build more elitist?
At least it keeps his mind off of "illegal" (all) guns and 32 ounce drinks.
The gun thing should be left to another thread, but when 80% of Americans are overweight, banning oversized sweet water is bad?
He should give his billions towards the National debt.
The GOPs would not agree to that even if Bloomberg wanted it. They claim it's not about revenue, but spending! The more revenue the government has, the more it would spend, so Bloomberg's money would not be welcomed. Of course, they also don't want to cut any military spending, either.