American businessman and politician, founder of Bloomberg L.P.; long NYC mayor.
Giving USA 2026 reports 2025 philanthropy at a record $617 billion, up 3% in inflation-adjusted terms. Bequests and megagifts from a handful of ultra-wealthy donors drive the rise, with MacKenzie Scott contributing about a third of megagift dollars and Warren Buffett, Bill Gates and Michael Bloomberg among top benefactors. The stock market boom underpins broader giving across individuals, foundations, and corporations.
Progressive candidates endorsed by Mayor Zohran Mamdani have won three key Democratic primaries in New York, expanding the left’s influence in Congress. Brad Lander, Darializa Avila Chevalier and Claire Valdez have defeated establishment-backed rivals in the 10th, 13th and 7th districts, with open seats in play and a broader shift underway.
JPMorgan Chase has named Doug Petno and Troy Rohrbaugh as co-presidents, signaling a shift in leadership as Marianne Lake retires. The board is advancing a male-dominated succession slate, with Erdoes and Piepszak retaining high-level roles and retention bonuses awarded to top bankers.
New York City open primaries face opposition from Mayor Mamdani as activists push for a system that could widen voter participation. The debate centers on whether the closed primaries strengthen incumbents or expose voters to broader choice.
An appellate court in Brooklyn has stayed a Staten Island judge's temporary restraining order and briefly allowed New York City's new pied‑à‑terre surcharge rollout to resume while the city seeks an appeal. The lawsuit challenges the administration's notification and list release; the city has argued the pause would derail time‑sensitive implementation.
New York City is moving to open five government-run grocery stores by 2029 to address food affordability. The plan, inspired by Atlanta’s Azalea Fresh Market, uses subsidies to lower core-food prices and seeks experienced grocers to operate the stores. The initiative follows a broader debate over food deserts and market-based solutions.
Nancy Kissinger has died at 92 in Kent, Connecticut. She has been described as a powerful presence in philanthropy and as Henry Kissinger’s trusted advisor. The couple has been central to U.S. diplomacy and social circles for decades.