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April 07, 2015

Michael Bloomberg's 'Letter on Philanthropy' Outlines Giving Mission

Issuing his first "Annual Letter on Philanthropy" Monday, Michael Bloomberg codified his principles for giving, focusing on partnerships with governments to catalyze change in health, the environment, and other areas, Politico writes. The billionaire media magnate and former New York City mayor called philanthropy "a way to embolden government" to experiment and innovate."

"By leveraging our resources, and forming partnerships with government, philanthropic organizations can help push those changes forward," wrote Mr. Bloomberg, whose foundation, Bloomberg Philanthropies, spent $462 million last year, up by $10 million from 2013. "That mindset may be untraditional, but it is at the heart of nearly everything Bloomberg Philanthropies does."