WORLD Bloomberg donates $1.8 billion to alma mater, Johns Hopkins

WORLD

Bloomberg donates $1.8 billion to alma mater, Johns Hopkins

AP

07:10, November 19, 2018

800.jpeg

FILE - In this Thursday, April 19, 2018, file photo, former New York City Mayor and United Nations Special Envoy for Climate Action Michael Bloomberg speaks at World Bank/IMF Spring Meetings, in Washington. (Photo: AP)

Former New York Mayor Michael Bloomberg is donating $1.8 billion to his alma mater, Johns Hopkins University.

Bloomberg and the Baltimore university said Sunday that the gift is the largest ever to any education institution in the U.S.

University President Ronald Daniels is calling the gift “transformative.” He says the contribution will allow Hopkins starting next fall to eliminate student loans in financial aid packages and commit to admitting the highest-achieving students regardless of ability to pay.

Bloomberg says America is at its best when it rewards people “based on the quality of their work, not the size of their pocketbook.”

The 76-year-old founder of the global finances services company Bloomberg L.P. is among the world’s richest people. He is also weighing a run for president in 2020.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue