Global Cities, Inc., a program of Bloomberg Philanthropies

17 Formationįor nearly a decade, the Carnegie Corporation of New York funded almost 600 of the city’s arts and social-services groups on behalf of an anonymous donor, widely assumed to be Michael Bloomberg, though his aides declined to confirm his involvement. 16 In 2010, it was reported that the foundation had invested almost $300 million in offshore investment holdings, including the tax-shelter Cayman Islands. During Bloomberg’s mayoralty, he allegedly commingled his interests as a businessman with his public role 14 allegedly improperly used city funds to conduct foundation operations 15 and used its ample resources to buy political support by rewarding friends and punishing enemies. The Bloomberg Family Foundation has been a source of controversy. 5 The foundation has spent over $100 million on Bloomberg’s environmentalist agenda including a $50 million gift to the Sierra Club to fight against the coal industry 6 has created a $50 million anti-gun organization, Everytown for Gun Safety 7 has partnered with Planned Parenthood to provide $50 million to family planning 8 and abortion-providing organizations in developing countries 9 has partnered with left-wing billionaire George Soros to respectively provide $60 million for a variety of social programs focusing on African-American communities 10 that served as a model for a national plan put forth by President Barack Obama 11 and has provided hundreds of millions of dollars 12 to support restrictive policies on individuals’ personal consumption choices. So far, the Bloomberg Family Foundation has doled out over $1.7 billion to various causes that dovetail with Bloomberg’s political priorities. 3 The Bloomberg Family Foundation is the main focus of Bloomberg’s charitable giving enterprises that are together come to be known as Bloomberg Philanthropies. Bloomberg, who has a reported net worth of nearly $50 billion, 2 has pledged to give away most of his fortune during his daughters’ lifetimes. The Bloomberg Family Foundation is the $7 billion foundation 1 created by left-leaning Democratic billionaire and former Mayor of New York City Michael R.

Global Cities, Inc., a program of Bloomberg Philanthropies