Michael Bloomberg Tops Record of American | International Market Information
Michael Bloomberg, 83, topped the listing of Individuals who donated probably the most money to nonprofits final 12 months, in keeping with the Chronicle of Philanthropy’s Philanthropy 50 listing for 2024. It was the second 12 months in a row that Bloomberg led the listing.Bloomberg gave $3.7 billion to charitable causes in 2024 in help of the humanities, training, public health teams, and metropolis authorities enchancment packages. He made his contributions immediately and thru his charitable group Bloomberg Philanthropies.One sizable donation Bloomberg made was a $1 billion grant to Johns Hopkins College in July 2024 to cowl the price of medical college for college kids.Associated: MacKenzie Scott’s Practically $20 Billion in Donations Has Had a ‘Transformative Impact,’ In line with a New Research. This is How.”I’ve never understood people who wait until they die to give away their wealth,” Bloomberg advised the Chronicle in an electronic mail. “Why deny yourself the satisfaction? I’ve been very lucky, and I’m determined to do what I can to open doors for others and to leave a better world for my children and grandchildren.”
Michael Bloomberg. Photographer: Lionel Ng/Bloomberg by way of Getty ImagesFive different particular person donors or {couples} joined Bloomberg in gifting away $1 billion or more final 12 months. They had been: Netflix co-founder Reed Hastings and his spouse Patty Quillin (second on the listing), Dell Applied sciences founder Michael Dell and his spouse Susan Dell (third), Warren Buffett (fourth), Meta CEO Mark Zuckerberg and his spouse Priscilla Chan (fifth), and retired pediatrics professor Ruth Gottesman (sixth).The majority of the donations went to funds that supported causes like scientific analysis and training. Gottesman made a transfer just like Bloomberg’s by donating $1 billion to the Albert Einstein School of Medication in Bronx, New York in February to make the medical college tuition-free as of August 2024.Associated: Former Pediatrics Professor Donates $1 Billion, Makes Albert Einstein School of Medication Tuition-FreeThe high 50 donors on the listing gave a collective $16.2 billion for philanthropic causes in 2024. The median quantity they gave was $100 million.Paychex founder Thomas Golisano was the eighth most beneficiant donor on the listing, gifting away $500 million in 2024. Most of his donations, or about $400 million, had been no-strings-attached contributions to over 100 nonprofits in New York and Florida. One of his areas of focus is organizations that help people with disabilities.Former investment banker Ok. Lisa Yang (spouse of Broadcom CEO Hock E. Tan) was the thirty fourth donor on the listing. She gave away $74.5 million this 12 months, principally to MIT and Cornell College. In February, Yang gave $35 million to Cornell School of Veterinary Medication’s Wildlife Middle to help wildlife conservation. Enterprise capital investor Michele Kang (No. 28) donated $84 million in 2024, giving $4 million to the USA Girls’s Rugby crew.The Philanthropy 50 rating has been working for 25 years. In that span of time, Buffett has been the largest donor, gifting away $49.4 billion.Invoice Gates and Melinda French Gates had been second general, giving $34 billion collectively, whereas Bloomberg, Jeff Bezos, and Elon Musk had been third, fourth, and fifth respectively in general charitable contributions.Bezos dedicated $10 billion in 2021 to the Bezos Earth Fund to guard nature and battle climate change whereas Musk has donated round $7 billion since 2020 to his group, The Musk Basis, which helps renewable vitality analysis and science and engineering training.Associated: ‘Sudden Funding’: Paychex’s Founder Donates $85 Million to 41 Nonprofits. This is The place the Cash Is Going.
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