Michael Bloomberg has been one of the leading achievers in finance, media and politics. After being laid off from the Salomon Brothers investment firm, Bloomberg started his own financial services and information company, Bloomberg L.P., which operates the Bloomberg financial television network and BusinessWeek magazine. He also won three consecutive terms as mayor of New York City, serving from 2001 to 2013. He has engaged in numerous philanthropic efforts, including the establishment of several academic scholarships.
Johns Hopkins University
Bloomberg has donated over $1 billion to his alma mater, Johns Hopkins University in Baltimore, Maryland, including the endowment of several scholarships. The Bloomberg Scholarships are highly competitive need-based scholarships, which allow academically talented undergraduates to attend the prestigious school. The scholarships replace a qualifying student's typical student loan debt with a grant, which can be renewed for up to three additional years of the student's college career based on the level of that student's financial need.
Bloomberg scholarships are also available at the Medill School of Journalism at Northwestern University. These scholarships are for graduate journalism students who show a dedication to business coverage and studying the convergence of business and mass media. Scholarship winners have access to major financial markets, such as the Chicago Mercantile Exchange, the Chicago Board Options Exchange, and the Federal Reserve Bank of Chicago and will network with Bloomberg business journalists to gain a deeper understanding of financial news coverage.
New Mexico Highlands University
The Bloomberg BusinessWeek Education Resource Center sponsors a scholarship contest for business students at New Mexico Highlands University, a small public university in Las Vegas, New Mexico. Students submit business case studies or papers on relevant business issues based on articles found in the Bloomberg Businessweek publication. The scholarships are funded by the Bloomberg BusinessWeek B-School Connection Program and include a $200 Bronze Award, a $300 Silver Award and an $600 Gold Award.
Joint Bloomberg-ALBA Scholarship
The Bloomberg scholarship programs also extend to overseas students. The Joint Bloomberg-ALBA Scholarship is available to students at The American College of Greece. Students who take the Bloomberg Aptitude Test can earn the opportunity to study for a master's degree in finance at the ALBA Graduate Business School. The top scorer on the BAT (minimum 600) earns a full scholarship while the next two scorers (minimum 550) earn 40 percent scholarships and the following four scorers (minimum 500) earn 25 percent scholarships.