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Michael Bloomberg’s Legacy: Is the New York Times The Answer?
33
14.06.2015
Michael Bloomberg has the kind of rich-person problem most of us can barely dream of. Namely, how will he fulfil his commitment to give away much of his $37bn (£23.8bn) fortune before he dies?
One possible solution might be for Bloomberg to retain the source of much of his wealth – his 88% stake in financial-information behemoth Bloomberg – and then bequeath the company, in his will, to the Bloomberg Philanthropies, his charitable arm. The Philanthropies could then be charged with giving away the company’s profits every year.
One possible solution might be for Bloomberg to retain the source of much of his wealth – his 88% stake in financial-information behemoth Bloomberg – and then bequeath the company, in his will, to the Bloomberg Philanthropies, his charitable arm. The Philanthropies could then be charged with giving away the company’s profits every year.
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