by Tom Wilson Major Gifts Guru
I've never met a billionaire or asked one for a major gift. So, every time I read an article about one of them in a philanthropy context I'm eager to read on.
As some of you know, KT the youngest of our 4 children, is a dancer in New York City with the Rockettes. She's getting ready to start her third season. We get to NYC a couple of times a year and I read The New York Times every day to keep up on The City.
Mayor Michael Bloomberg is a very interesting character. He's getting ready to run for a third term as major of New York City. For someone of his wealth, his political work is highly commendable.
I new he was wealthy and I knew he was generous, but I had no idea.
In a recent article in The New York Times, it noted that Mayor Bloomberg had just reported an estimate of his last year's taxes with income and expenses in rough categories. It noted that his networth was $16 billion and that he had lost about $10 million last year in the stock market. That is an amazingly low number compared to most investors last year.
The story went on to say he gave $235 million to 1,221 organizations in 2008. This topped his giving in 2007 of $205 million. Wow. In running for office, he doesn't even mention this generosity.
To provide context. The 2008 amount is 1.5% of his networth. Not huge giving, but remember that networth and liquidity are two different issues. He owns a lot of stock in his company which he cannot spend. So of his liquid assets, this may be pretty spectacular giving. I wish I knew more about his motives and values.
On behalf of my adopted second city, New York. Thanks Mayor.
Permanent Link: Mega Gift Donors -- Trying to Understand Their Values
http://majorgiftsguru.com/2009/07/mega-gift-donors-trying-to-understand.html
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