Ray Dalio and Michael Bloomberg Commit $185 Million To Protect The Oceans
Billionaires Michael Bloomberg and Ray Dalio are joining forces to work on saving the world’s oceans. On Sunday, Bloomberg ’s Bloomberg Philanthropies and OceanX –an initiative of the Dalio family, announced a $185 million pledge to work together on researching and conserving the oceans
Bloomberg Philanthropies confirmed that it is committing $86 million over four years, and OceanX said it is pledging about $100 million over the same period. They aim to combat the impact of pollution, destructive fishing practices and climate change on the ocean, which makes up more than two-thirds of the Earth’s surface. Together, the organizations will support the exploration of threatened marine areas to advance scientific understanding, public awareness and education, advocacy and conservation. The partnership is based on the premise that there is a disconnect between humans and their relationship to the ocean, and that threats to the ocean are increasing. The partnership was announced on Sunday Oct. 28 at the 5th Annual “Our Ocean Conference” in Indonesia.
What Does It Cost To Live Like The Richest People In The World?
Bad news — of a very mild variety — for anyone with a couple billion tucked... →
“More than three billion people depend on the oceans for food and their livelihoods,” Bloomberg said in a statement on Sunday. “That means threats to marine ecosystems – like climate change and overfishing – also threaten lives around the world. We’re teaming up with OceanX to ensure that ocean conservation receives the attention it deserves.”
Bloomberg, UN special envoy for climate action and a former New York City mayor, and Dalio, founder of hedge fund firm Bridgewater Associates, made the announcement at the conclusion of a recent joint project, an expedition to the U.S.’s first national marine monument in the Atlantic Ocean, called the Northeast Canyons and Seamounts Marine National Monument. The expedition made on OceanX’s vessel, the Alucia, explored parts of the underwater site that had never been visited by humans.
“By starting in our own backyard, we hope to inspire Americans and others around the world as they conserve their own national waters,” Bloomberg said in a video on Sunday announcing the partnership.
Kathleen Chaykowski, Forbes Staff
