Mike Bloomberg’s Foundation Donated $500 Million To Charity The Year He Ran For President. Here’s Where The Money Went

Mike Bloomberg spent a record-breaking sum running for president last year—more than $1 billion. The former New York City mayor, who Forbes estimates is worth $70 billion, still had plenty leftover. His foundation gave away about $500 million more to nonprofits and charitable organizations focused on areas like public health, education and climate change, according to a review of the Bloomberg Family Foundation’s 2020 annual filing.

That document shows that Bloomberg put $822 million into the foundation, which in turn gave away $497 million in grants to nearly 200 organizations. Individual grants ranged from $10,000 to $60 million.

Just 10 organizations received about 60% of the funds. The top recipient was Bloomberg’s alma mater, Johns Hopkins University. The school received multiple gifts totaling $74.5 million—$60 million of which went toward the Bloomberg American Health Initiative, which focuses on specific public health issues like addiction and gun violence.  

Several other universities received big gifts as well. New York University got $20.3 million. Four historically Black colleges and universities—Howard University, Meharry Medical College, Morehouse School of Medicine and the Charles Drew University of Medicine and Science—accepted a total of $58.6 million.

At least 40% of the grants went toward public health initiatives. An organization named Vital Strategies received $47.2 million, Campaign for Tobacco-Free Kids received $39.2 million and the CDC Foundation got $16.5 million.

More than 15% went toward environmental causes. The Sierra Club Foundation took in $20.7 million, and ClimateWorks Foundation received $15.1 million.

The Bloomberg Family Foundation is just one part of Michael Bloomberg’s larger philanthropic operation, Bloomberg Philanthropies. In addition to money that flowed out of the foundation, Bloomberg personally gave another $1.1 billion to charities through other avenues last year.

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