Mayor Michael Bloomberg has finally been revealed as the anonymous donor that over four decades has transformed the education landscape of his alma mater John Hopkins University.
During the presentation of another staggering donation of $350M to the school yesterday, officials revealed that the 70-year-old financial giant has gifted over $1.1 billion since his graduation in 1964. Such philanthropy, not even counting his other charitable gifts to additional institutions, would make him the most generous living donor to any education institution in the United States.
“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 said in a statement issued through the university. “Giving is only meaningful if the money will make a difference in people’s lives, and I know of no other institution that can make a bigger difference in lives around the world through its groundbreaking research — especially in the field of public health.”
Bloomberg’s generous donations to Hopkins have funded a physics hall, a children’s hospital, a school for public health, a malaria institute, a building for stem cell research, and a new library wing. Additional funds have also financed 20 percent of all need-based financial aid grants to undergraduates over the past few years and various art installations.
“The modern story of Hopkins is inextricably linked to him,” said Ronald J. Daniels, the university’s president, to the Times. “When you look at these great investments that have transformed American higher education, it’s Rockefeller, it’s Carnegie, it’s Mellon, it’s Stanford — and it’s Bloomberg.”
And it’s not over. Bloomberg has stated several times that he will give away his entire $25 billion dollar fortune while he still alive. At age 70, you can expect the frequency of these record-breaking gift to increase rapidly over the next decade – a trend we’re more than happy to see realized.
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