*Michael Bloomberg is expanding his support for historically Black colleges and universities (HBCUs) with a new $20 million initiative to fund K-12 charter schools on HBCU campuses.
According to Forbes, the program aims to create direct pathways into HBCUs while fostering career readiness for students. The funding will support two schools in Alabama: the D.C. Wolfe Charter School near Tuskegee University and the I Dream Big Academy at Stillman College.
The D.C. Wolfe Charter School is being converted from D.C. Wolfe Elementary and is expected to open in fall 2026. Students at both schools will have access to dual-enrollment courses at the affiliated universities and opportunities for community internships.
“There are two schools that have been announced, and there are a few more in the pipeline that we’re really excited about…supporting high-quality public charter schools and supporting the work that historically Black colleges and universities have been doing for decades,” said Jasmine Jenkins, senior program officer for education and advocacy at Bloomberg Philanthropies.
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This initiative builds on earlier efforts by Bloomberg to back HBCUs and K-12 education. In 2022, he contributed $10 million to the United Negro College Fund (UNCF) to support charter school programs benefiting Black students. In 2024, he made a $600 million donation to medical schools at four HBCUs, including Charles R. Drew University of Medicine & Science, Howard University College of Medicine, Meharry Medical College, and Morehouse School of Medicine.
The new $20 million effort is split evenly between Bloomberg Philanthropies and City Fund, with plans to expand the model to other southern states and across the nation.
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