Some people think Michael Bloomberg’s $1.8 billion donation to Johns Hopkins University is a ‘dangerous distraction’ [MarketWatch]
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Source: MarketWatch
Some people think Michael Bloomberg’s $1.8 billion donation to Johns Hopkins University is a ‘dangerous distraction’ Former New York City mayor Michael Bloomberg’s $1.8 billion donation to Johns Hopkins University has made headlines for its sheer size — it’s the biggest gift ever to a single institution. The money, to be used for financial aid, will let the school open its doors to qualified students who otherwise couldn’t afford to attend. But to some the donation is a symptom of a troubling trend in American philanthropy. Charitable giving is becoming increasingly top-heavy, with megadonations like Bloomberg’s and the $2 billion that Amazon AMZN, -5.09% founder and CEO Jeff Bezos recently announced to fight homelessness and improve early education becoming more frequent, and increasingly setting the agenda for America’s nonprofits. Those donations are, of course, a good thing on their face — more money going to worthy causes — but to many observers they’re the latest examples of
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