‌

Philanthropy News: Mike Bloomberg Named to TIME100 List of Most Influential People in Philanthropy (TIME)

Mike Bloomberg brings the same approach to giving away money as he does to making it, TIME says. From a fortune amassed by providing precise information to the financial services industry, he has so far donated more than $21 billion to causes ranging from climate to education to the arts.

Last year alone, Bloomberg gave $3.7 billion, making him 2024’s largest individual donor, according to the Chronicle of Philanthropy (he was 2023’s biggest giver as well). Noteworthy grants included $1 billion to Bloomberg’s alma mater, Johns Hopkins University, to make medical school free for most students and increase financial aid for nursing and public-health students, plus $600 million to boost medical-school endowments at four historically Black colleges and universities.

Earlier this year, Bloomberg Philanthropies also announced plans to support efforts to honor the country’s commitments under the Paris Agreement following the Trump administration’s withdrawal from the international agreement.

Key to the overarching strategy is using data to first identify problems, then target solutions and measure progress. Many of his philanthropic initiatives tend to focus on cities as key stakeholders, drawing on Bloomberg’s experience as mayor of New York City and working collaboratively with a network of mayors across the globe.

What I'm Reading.

Check out the Daily Read podcast: Click here to listen to today's AI-generated audio companion to this newsletter. And 'Follow' the Sheekey Daily Read podcast on Spotify and Apple Podcasts to listen and be notified when the latest are available.

Middle East Latest: Oil Climbs on Report That Israel Is Preparing to Strike Iran (Bloomberg)

Oil jumped following a CNN report that new US intelligence suggests Israel is preparing for a potential strike on Iranian nuclear facilities.

Oil has been volatile since last week on mixed headlines about the fate of Iran-US nuclear talks, which could pave the way for more barrels to return to a market that’s expected to be oversupplied later in the year. An attack by Israel would hinder any progress in those negotiations and add to unrest in the Middle East, which supplies about a third of the world’s crude.

New Support: EU to Lift Economic Sanctions on Syria in a Bid to Bolster Stability (New York Times)

US Politics: Elon Musk Plans Political Pullback Saying 'I Think I've Done Enough' (Bloomberg)

Elon Musk said he’s committed to still leading Tesla five years from now and expects to pare back his political spending, assuaging some investors’ concerns about the future of his most valuable company.

"I think I’ve done enough," Musk said of his political spending. Asked if this is because of the blowback he’s been getting, Musk demurred. "If I see a reason to do political spending in the future, I will do it,” he said. “I do not currently see a reason."

Alarming: Mexico City Mayor Aides Shot Dead by Attackers on Motorbike (Bloomberg)

Financial News: Kuwait Wealth Fund Sends Warning on Reducing US Exposure (Bloomberg)

Kuwait Investment Authority’s Managing Director Sheikh Saoud Salem Abdulaziz Al-Sabah said Wednesday at the Qatar Economic Forum that the "US is the deepest capital market in the world. The fund has been investing in the country and as the markets develop in the US, it will continue to invest." Sheikh Saoud warned investors to be underweight America at their "own risk."

Latest: Trump’s New Position on the War in Ukraine: Not My Problem (New York Times)

New Investigation: Justice Dept. Says It’ll Investigate Chicago After Mayor’s Remarks About Black Hires (New York Times)

Transit Plans: NYC Plans 'Busway' for 34th Street That Would Ban Most Car Traffic, Similar to 14th Street (Gothamist)

The idea is all but identical to the busway the department put in place on 14th Street in 2019, which led to a 24% speed increase on the M14 bus route. Locals were originally concerned that traffic at nearby local streets would get worse with the implementation of the busway, but transportation department data shows that there were no effects.

The changes to 34th Street would help foster easier connections among 16 subway lines, as well as commuter railroad service at Penn Station. The plan would also come with pedestrian improvements, including redesigning the street with shorter intersections and brighter lines on crosswalks.

Best of Late Night.

‌

On Homeland Security Secretary Kristi Noem's idea to host a reality show called 'The American' where migrants compete to win American citizenship:

‌

"Noem said it’s not like 'The Hunger Games,' even though it sounds exactly like 'The Hunger Games.'"

-- Bill Maher

‌

"I know that sounds dystopian, but, to be fair, that’s how citizenship has always worked. In fact, my great-grandfather actually won the first season of 'So You Think You Can Dig the Erie Canal.'"

-- Stephen Colbert

‌

"New York City is going crazy right now because for the first time in 25 years, the Knicks are going to the conference finals. They haven't been there since the year 2000. That's literally 7 'Mission: Impossibles' ago."

-- Jimmy Fallon

‌

"The Knicks eliminated the Boston Celtics to advance to the next round, and after the game, things got crazy. Rowdy Knicks fans went down to Penn Station and caused $3 million worth of improvements."

-- Jimmy Fallon