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BOSTON (AP) — Former New York City Mayor Michael Bloomberg’s charitable foundation has made the largest gift ever to Boston’s Museum of Science.

The $50 million gift from Bloomberg Philanthropies announced on Tuesday will endow the museum’s educational division, which will be named the William and Charlotte Bloomberg Science Education Center in honor of the billionaire’s parents.

Bloomberg grew up in nearby Medford and for years took classes at the science museum on Saturday mornings.

The 74-year-old Bloomberg called his childhood experiences at the museum life-changing. In a statement posted to the museum’s website, he said he understood firsthand how important an impact it can have on young people.

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Bloomberg founded a global financial data and media company and served three terms as mayor of New York.