Seemingly out of nowhere, Bloomberg Philanthropies has emerged as one of the biggest funders in the marine space, with a $53 million grant to fight overfishing and reform fishing practices in Brazil, Chile, and the Philippines.
It's great news for fishes that one of the world's richest men is now in their corner, with Bloomberg Philanthropies suddenly among the top five funders among global ocean funders (as its press release helpfully points out).
Alas, 99.9 percent of NGOs that work in this space are unlikely to ever get any of this or future Bloomberg money. The foundation has already chosen just three grantees to spend all this money: Oceana, Rare, and EKO Asset Management Partners.
And for Bloomberg, this is spreading money around more than they usually do.
Here's a short primer on how Bloomberg Philanthropies typically gives away money: They choose what they call "best-in-class" partners and shower them with big money for years and years. They rarely give money to "second-best-in-class" groups. And definitely not "third-in-class."
Look back over the foundation's 990 for the last decade if you don't believe me.
Sorry to be the bearer of bad news here. But that's the way this funder works.