Michael Bloomberg is putting his money where his mouth is. The New York City mayor and billionaire is contributing $30 million of his own money to a new initiative to bridge the gap between black and Latino youths and their peers. "We believe it is one of the most ambitious and comprehensive attacks on racial disparity ... that any city has ever undertaken," Bloomberg said. Billionaire hedge fund manager George Soros will match the mayor’s contribution, and the city will fund an additional $67.5 million. The announcement comes just days after Bloomberg raised $1.4 million in private donations (including $250,000 of his own money) to administer the city’s high school Regents exams.