A New Approach to Investing in U.S. Education

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July 23 (Bloomberg) -- In today's "This Matters Now," Julian Robertson, founder at Tiger Management, talks with Tom Keene about his donations to Newark, New Jersey's school system and the importance of education in America. He speaks on Bloomberg Television's "Bloomberg Surveillance."

We welcome your fifth grandchild?

My fifth grandchild yesterday.

Out doing the queen.

That is right.

Actually beating the doctor who delivered the baby by about two hours, because two hours after the baby arrived, the doctor went into labor and that her child.

Like a very good, you cannot top that.

Let's talk about your chair will support -- charitable support.

You actively supported mitt romney, but there is also education and you focused on newark, new jersey.

Why have you focused on supporting education in new work?

What i think the new work needs help and i think that cory booker has been a great job of developing the help.

He was helped tremendously by mark zuckerberg with the $100 million grant.

We are very concerned about the transition of teachers.

And the way that the system is set up now, it is a last in, first out basis.

The last teacher fired -- the last teacher hired is the first month fired.

We worked out a deal with the unions and the unions came in and worked with us on.

What happened was that we actually bought out the bad teachers and kept the good teachers.

In other words, bought them out, paid their contracts off.

What would you like to accomplish to help disadvantaged children get smarter?

What is the number one thing you want to do for those kids?

I think that the best thing that we can do is get good teachers in their.

Places like teach for america are places where grade teachers come from.

Under the old system, they were just being let go as the first ones to be let go.

I look at this, this support is something that will no doubt continue.

This text has been automatically generated. It may not be 100% accurate.

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