Bloomberg Tells Gates Where to Spend It
It's not enough that New York City Mayor Michael Bloomberg kicked smokers out of restaurants and onto the curb. He wants them to kick the ...
Bloomberg started an anti-tobacco initiative three years ago, hoping his example -- he kicked in $125 million out of his own charitable wallet -- would prompt others to take up the cause. That strategy is now paying dividends, with the Bill and Melinda Gates Foundation now on board.
Bloomberg and Gates just held a news conference where they announced that Bloomberg will put up an additional $250 million, while the Gates Foundation pledges to spend $125 million, including $24 million going directly to Bloomberg's effort.
p.s. The Gates Foundation is spending much more money -- $500 million -- on its new downtown Seattle headquarters. Hey, they're entitled.