Here's your Forbes Daily Briefing for Friday, December 12th.

Today on Forbes, billionaire Michael Bloomberg is creating a charter school to HBCU pipeline for black students.

Michael Bloomberg, who donated $600 million in 2024 to support medical schools at four historically black colleges and

universities, known as HBCUs, has a new plan to back black education, funding K-12

charter schools on HBCU campuses.

Last week, the billionaire former New York City Mayor's Bloomberg Philanthropies and the Education Nonprofit City Fund announced a $20 million initiative

to fund two public schools in Alabama, one at Stillman College and one at Tuskegee University

that will create direct pipelines into HBCUs and promote career success.

The funds will go toward the D.C. Wolf Charter School

in shorter Alabama, which is being converted from D.C. Wolf Elementary School and expected to open

near Tuskegee University in fall 2026, and the I Dream Big Academy on Stillman's campus, which recently

opened as the first HBCU Charter School Partnership

in Alabama. Students who attend the schools will be able to take dual enrollment courses

at the universities and participate in community internships. Jasmine Jenkins, senior program

officer for education and advocacy at Bloomberg Philanthropies, says, quote,

there are two schools that have been announced, and there are a few more in the pipeline that we're

really excited about. This is a continuation of the work that Mike Bloomberg and Bloomberg

Philanthropies has been doing for over a decade, supporting high-quality public charter schools,

and supporting the work that historically black colleges and universities have been doing for decades.

Bloomberg laid the foundation for this partnership, launched in conjunction with the United Negro College Fund, or UNCF,

when he made a $10 million donation to UNCF in 2022 to support K-12 charter school programs benefiting black

students. The hope now is to expand from the two schools to the rest of Alabama, the South,

...