Find out more information about  
Fill out this form and a representative will contact you.
Captcha Image
Contact Us
Mayor Bloomberg's Largesse
New York City Mayor Michael Bloomberg is now officially the most generous living donor to the field of education in the United States. Last week, the Mayor and Bloomberg News magnate stepped out from behind the curtain of quiet philanthropy to announce a $350 million gift to Johns Hopkins University, his alma mater. This extraordinary gesture brings Mr. Bloomberg’s total contributions to Johns Hopkins to $1.1 billion to date. And he’s not finished yet.

Mayor Bloomberg is reportedly worth in excess of $25 billion, which puts him in the top 1% of the 1%. He has committed to donating his entire fortune during his lifetime, as a member of the Giving Pledge, an initiative created for that noble purpose by Warren Buffet and Bill and Melinda Gates. It’s a staggering proposition that is almost impossible to truly visualize.

Try to imagine the incredible good that Mr. Bloomberg and his fellow billionaires can do with that much money. More of those lucky few are stepping up to the challenge. Patrice Motsepe, founder and executive chairman of African Rainbow Minerals and South Africa’s first black billionaire, became the first African to join the Giving Pledge fraternity this week. He plans to use his contribution for education and health programs in his country.

People like Motsepe and Bloomberg have the ability to truly impact not only the health and well-being of the people served by the causes they champion, but also to help shape the future for generations to come. Who knows what discoveries may come out of the Johns Hopkins programs funded by the Mayor’s gift, or others like it? It is a fascinating as well as a heroic proposition to contemplate.

But Bloomberg is not the only hero in his philanthropic universe. The true heroes are the Johns Hopkins faculty and administrators who must have made such an impression on young Michael Bloomberg. In helping to shape the values of the man he would become, these people inspired his connection, loyalty and indebtedness to the institution, which many decades later has resulted in his unprecedented generosity.

Who doesn’t remember the words of a teacher or the kindness of a neighbor from our early lives? We should all be cognizant of the lasting impact we have on those around us, knowingly or unknowingly.

Mayor Bloomberg’s ability to expand the definition of generosity is not the result of happenstance. He planned for it. Mr. Bloomberg spent his life building a company that is a modern marvel of success, which he parlayed into one of the most influential elected offices in the country, where his focus is on public health. Love him or hate him, even his political enemies would concede that Bloomberg is a man of conviction and big thinking.

At Marcum, we work with clients every day who have achieved great success on their own terms.  They may not have amassed the personal wealth to rival Mayor Bloomberg, but they have spent their lives working toward a vision that has paid handsome dividends. Carefully, thoughtfully managing their financial assets for the present and future benefit of their families, as well as the causes that matter to them, is their ultimate legacy. We are honored to play a part in helping these clients make the decisions and implement the strategies to ensure that the legacy is fulfilled.

Mayor Bloomberg provides a model. His largesse is a particularly vivid example of people doing the right thing just for the sake of doing the right thing, paying off in ways they never could have anticipated or imagined. Who would have thought a 20-year-old Michael Bloomberg would someday be worth $25 billion? I don’t think they even thought in terms of billions back in the 1960’s.

Who knows? At any college or university in this country today, an 18-21 year old future Bloomberg, Gates or Buffet might be on his or her way to becoming a trillionaire.  Just think of what could be accomplished with that.

Go Back

The opinions expressed in this column are solely those of Jeffrey M. Weiner and do not represent those of Marcum LLP, its partners or its employees.

Meet Jeffrey M. Weiner
View Jeffrey Weiner's Profile View Profile
Download Jeffrey Weiner's Contact Card Download vCard
Connect with Jeffrey Weiner on LinkedIn Connect with Jeffrey Weiner
Follow Jeffrey Weiner on Twitter Follow Jeffrey Weiner
Subscription Preferences
Recent Posts
Change Is In the Air
Tradition of Service
Buckle Up
Because You Count
November 2016
October 2016
September 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013

New York
New Jersey
Rhode Island
Grand Cayman

Get in Touch

Get Connected
Privacy | Legal | Sitemap | Secure Mail