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Zoltan Acs


  • Originally published 02/06/2013

    Why Philanthropy Matters

    Via Flickr.On Sunday, January 27, New York City mayor Michael Bloomberg announced his latest donation to Johns Hopkins University. His $350 million gift will be the largest in the university's history. Over the last four decades Bloomberg has given $1.1 billion dollars to his alma mater, a truly staggering amount of money. This makes him the most generous donor to any educational institution in the United Sates.Reading Bloomberg's giving pledge letter sheds light on what he hopes to accomplish by giving money away. "If you want to fully enjoy life -- give. And if you want to do something for your children and show how much you love them, the the single best thing -- by far -- is to support organizations that will create a better world for them and their children. Long term, they will benefit more from your philanthropy than your will. I believe the philanthropic contributions I am now making are as much gifts to my children as they are to the recipient organizations." Bloomberg has set up a foundation to give away the bulk of his $25 billion fortune before he dies.