Bloomberg to Use Own Funds in Plan to Aid Minority Youth

Michael Barbaro & Fernanda Santos:

To pay for the endeavor in a time of fiscal austerity, the city is relying on an unusual source: Mr. Bloomberg himself, who intends to use his personal fortune to cover about a quarter of the cost, city officials said. A $30 million contribution from Mr. Bloomberg's foundation would be matched by that of a fellow billionaire, George Soros, a hedge fund manager, with the remainder being paid for by the city./i>

Posted by Jim Zellmer at August 6, 2011 1:26 AM
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