Michael Bloomberg, the billionaire who has made reducing smoking one of his signature causes as mayor of New York City, is committing $220 million to his charity to go toward reducing tobacco use in countries that are home to millions of smokers.
He was expected to announce his four-year commitment to Bloomberg Philanthropies at the 15th World Conference on Tobacco or Health in Singapore on Thursday. The new commitment will bring the total amount he has directed to his eponymous charity to over $600 million since 2007.
“Tobacco kills every day, so we need to keep the fight moving forward and keep the momentum going,” Bloomberg said in a statement.
Bloomberg, who made his fortune in the financial services industry, was ranked fifth on the Chronicle of Philanthropy’s list of 50 of the “most generous donors” for 2011.
His new commitment will go toward evidence-based initiatives including smoke-free laws, graphic pack warnings and raising taxes, charity officials said. The focus will be on country-level change, particularly in China, India, Indonesia, Russia and Bangladesh, which officials say account for the largest share of tobacco use in the world.
As mayor of New York City, Bloomberg has steered public health policy to ban smoking in restaurants, bars, parks and beaches; launch numerous advertising campaigns to alert consumers to the hazards of tobacco use; and raise the price of cigarettes through taxes.
Join the official YWN WhatsApp status
One Response
Perhaps Bloomy would like to earn some Olam Habba and donate even 10% of this amount to establish a scholarship fund to help yeshiva parents pay tuition?