Big Bet Philanthropy: These Gifts of $25 Million or More Target Society's Toughest Problems
By Kerry A. Dolan
Large fortunes beget large gifts, and more than ever, prominent philanthropists and foundations are anteing up $25 million-plus to help tackle problems of poverty, disease, substandard education and more. Boston's Bridgespan Group found 74 such gifts in 2016, totaling $6.7 billion. Its panel of outside experts then ranked the 10 most promising.
Michael Bloomberg/Bloomberg Philanthropies tied for the fifth spot, recently giving $360 million towards tobacco control.
Building on $600 million he has given since 2007, New York's ex-mayor aims to reduce tobacco use in developing countries where smoking remains widespread. The initiative aims to save 100 million lives by 2050. “Reducing tobacco use is one of our greatest opportunities to save lives and prevent suffering, because we know that strong policies really do make a difference…,” Bloomberg said.
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