Bloomberg to Donate $30M

New York City Mayor Michael Bloomberg will donate $30 million of his personal fortune toward a far-reaching city program to help educate and improve the lives of young black and Latino men. Bloomberg’s contribution will be matched by billionaire George Soros, and a matching half will come from public funds. Bloomberg is expected to announce his donation in a press conference Thursday when he addresses New York’s disparity between minority men from the ages of 16 to 24 and the rest of the city; although New York has roughly the same amount of white, black, and Latino men, minorities make up 84 percent of the city’s detention facilities and nearly all those admitted to children’s and family services. Under the program, the city’s Probation Department will open five satellite probation offices in neighborhoods with the highest crime rates and inside community organizations that offer services from which young men might benefit.