Michael Bloomberg donates 1.8 billion dollars to his Alma Mater

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Billionaire Michael Bloomberg donates 1.8 billion dollars to his old university, Johns Hopkins. It is the largest donation that an American university has ever received.

The university will use the money to allow children from poorer families to study. Through the donation, student loans that are intended for this can be replaced by scholarships.

“The US works best when we reward people based on the quality of their work, not the size of their scholarship,” Bloomberg said in a statement. With his donation, Bloomberg raises above Bill and Melinda Gates, who made $ 1 billion in 1999 for scholarships.

Charities

The 76-year-old Bloomberg earned a fortune with the financial news company of the same name. He is net worth 50 billion for Forbes, eleventh in the global rankings of billionaires.

In the past, Bloomberg has already donated 6 billion to good causes, such as weapons legislation and climate change. He also donated 80 million to support candidates before the elections in the US, earlier this month.

Democrat, Republican, independent

Bloomberg was elected mayor of New York as a Republican in 2001, after having previously been a member of the Democratic party. In 2009 he won a third term as an independent candidate.

The billionaire has been thinking about a run for the presidency for years. In the run-up to the 2020 elections he has again become a member of the Democratic party.


By: Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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