NEW YORK (WCBS 880) — Two well-known billionaires are helping to launch a new program designed to lift black and Latino men out of poverty.

LISTEN: WCBS 880’s Mike Xirinachs reports

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The Young Men’s Initiative is a bold new program that overhauls how government interacts with young black and Latino men by, among other things, establishing job recruitment centers and fatherhood classes in public housing.

“This can be a game-changer,” said Mayor Michael Bloomberg. “We can take ourselves to a new level and maybe the impact of what we do will be copied in other cities.”

Bloomberg and billionaire George Soros are each contributing $30 million of their own money to the $127 million initiative, a program Soros says he’s proud to be part of.

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“This will help make our city stronger and a better place,” said Soros. 

The city will also allocate up to $67.5 million.

For more about the program, visit

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