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January 28, 2013

Bloomberg's Hopkins Giving Tops $1-Billion With New Pledge

New York Mayor Michael R. Bloomberg is donating $350-million to his alma mater, The Johns Hopkins University, to finance interdisciplinary research and hundreds of new scholarships, reports The Baltimore Sun.

The pledge boosts Mr. Bloomberg's total giving to the university to more than $1.1-billion, which Hopkins officials said makes him the largest donor to any U.S. college or university. His first contribution was $5 in 1965, the year after he graduated.

The new gift includes $250-million over five years to support 50 faculty members charged with research and teaching across disciplines that will tackle complex global issues, such as urban revitalization and environmental sustainability. The other $100-million will provide financial aid for estimated 2,600 undergraduates over a decade.