Billionaire Mike Bloomberg plans to leave The business empire of a man to his philanthropic organization—in what would be one of the largest charitable donations in history.

“He has committed to giving the company away to Bloomberg Philanthropies when he dies, if not sooner,” company Ty Trippet, spokesman told the Financial Times This week, a writer published a story.

BloombergHe is estimated to be worth $94 billion. The owner of his name-brand company is expected to transfer. company to This trust will be managed by your family members and close friends. Bloomberg Philanthropies The organization is committed to perpetuity. This organization is focused on the Arts, Education, Environment, Government Innovation, Public Health, and the Environment.

Patagonia’s founder Yvon Chauinard did the same thing with his outdoor clothes last year. companyIt is a good idea to hand it out to A trust which will be using profits to Help fight the climate change 

But it’s hardly a common tactic. Chouinard said at the time: “We are turning capitalism on its head by making the Earth our only shareholder.” 

The arrangement can be arranged by Bloomberg, who runs one of the world’s most valuable private companies, would be on a much larger scale. Bloomberg Philanthropies doled out roughly $1.6 billion last year, while Patagonia estimates it’ll give its trust $100 million annually, the FT reports.

The Sunday Review The Reach Out to Bloomberg You asked for comments after normal working hours, but you did not get a reply.

Bloomberg His philanthropy is known to many. In 2010, he signed The following are some of the ways to get in touch with us. Giving PledgeA commitment to billionaires to Donate most of your wealth to Identify societal requirements. In 2019, he made an announcement of a $500-million investment to combat climate change. 

Highlights from Bloomberg Philanthropies’ giving:

This year it was a bit earlier. announced A pledge of 420 million dollars over four years to An initiative to Reduce tobacco consumption, increasing its commitment to more than $1.55 billion dollars since 2005.

In November last year, the number of people who died in the United States was up by a staggering 45% announced Public Art Challenge: Encourage mayors in U.S. Cities with at least 30,000 Residents to You can apply to up to One million dollars in funding to “create temporary public art projects that address important civic issues.”

It was the month prior to that. announced Additional $50 Million Commitment to The Global Polio Eradication Initiative has reached its target to 225 millions since 2013.

In September last year, the number of people who died in the U.S. vowed an investment More than 200 million dollars to Noting the need to protect marine habitats and coastal communities as well “the health of the ocean is critically important to people’s lives and livelihoods around the world.” 

While there’s little doubt about the direction Bloomberg Philanthropies Uncertainty still exists about the amount of funding that would be given Bloomberg’s preference for his successor at the business. 

The following is a list of the most popular ways to contact us to The FT believes that Jean-Paul Zammitt who has served as Chief Commercial Officer and been responsible for terminal sales is most likely to be the next CEO. to But you can’t. It’s not just you. Bloomberg, known for being private and patient, is keeping his team guessing—and may opt for an outsider.