He was a C student — but turned in to an A-plus donor.
Mayor Bloomberg yesterday announced a $350 million gift to his alma mater, Johns Hopkins University, bringing his lifetime contribution to $1.1 billion.
“Johns Hopkins University has been an important part of my life since I first set foot on campus more than five decades ago,” Bloomberg said in a statement released by the university.
Bloomberg, who made his fortune creating financial data and news firm Bloomberg LP, is believed to be the first person to give more than $1 billion to an institution of higher learning, Johns Hopkins says.
He’s given the money despite being a self-admitted mediocre student. “I remember having nothing but fun in college,” Bloomberg once said.
Another time, while discussing grade-school promotion rules, he described himself as a “straight-C student.”
But he’s believes his donations have been good investments.
“Each dollar I have given has been well spent, improving the institution and, just as importantly, making its education available to students who might otherwise not be able to afford it.”
A large chunk of Bloomberg’s latest gift — $250 million — will go to university programs close to the mayor’s heart including research on water resources, health care, global health, the science of learning and urban revitalization.
Some of the remaining $100 million will go to Bloomberg Scholarships, destined for 2,600 need-based undergraduate students.
The university says that the gift will also endow 50 Bloomberg Distinguished Professors.
“This latest initiative allows us to greatly accelerate our investment in talented people and bring them together in a highly creative and dynamic atmosphere,” university President Ronald J. Daniels said in a statement.
“It illustrates Mike’s passion for fixing big problems quickly and efficiently.”
Among Bloomberg’s past gifts was $120 million toward the construction of a children’s section at the John Hopkins Hospital in honor of his late mother.