Michael Rubens Bloomberg or Michael bloomberg is an American businessman, politician, philanthropist, and novelist. He is Bloomberg L.P.’s co-founder, CEO, and majority owner. The third Jewish mayor of New York City, Bloomberg was chosen to serve as the 108th mayor of the city. He was first elected in 2001 and served three terms in a row, being re-elected in 2005 and 2009.
Bloomberg created a technocratic management style by pursuing socially liberal and fiscally conservative ideas. With an estimated net worth of $82, he is the 16th richest person in the world according to Forbes as of June 2022.
Michael Bloomberg Biography and Networth:
|Net Worth $82 Billion|
|Full Name Michael Rubens Bloomberg|
|Birth Date Feb 14, 1942|
|Age 80 years|
|Birthplace Boston, Massachusetts|
|Occupation Entrepreneur, Politician, Stock trader|
|Domestic Partner Diana Taylor|
Michael Bloomberg Early life
Michael Bloomberg was born into a Jewish household on February 14, 1942, in Boston. Real estate broker William Henry Bloomberg was his father.
He attended Johns Hopkins University to study engineering after completing his secondary education, where he earned a Bachelor of Science in electrical engineering in 1964.
He next attended the Harvard Business School, where in 1966 he received his Master of Business Administration.
Michael Bloomberg Business Career
He accepted a job with Salomon Brothers, a Wall Street financial bank, after graduating in 1966. He put in a lot of effort over the following several years and steadily advanced through the positions.
In 1973, Michael joined the bank Salomon Brothers as a general partner. In 1981, Phibro Corporation purchased the bank, and Bloomberg was fired and handed a $10 million severance payment.
He later founded Innovative Market Systems, a financial-data service company, and served as its CEO using the funds from his severance agreement. His business’s first client was Merrill Lynch, the wealth management arm of Bank of America and it was renamed Bloomberg L.P. in 1987. It has created a number of auxiliary products over the years, including Bloomberg News, Bloomberg Message, and Bloomberg Tradebook. The newly renamed Bloomberg LP erected tens of thousands of terminals within ten years after its debut. There are more than 300,000 Bloomberg Terminals operating worldwide as of this writing and a single terminal costs more than $20,000 a year.
The corporation was valued $2 billion in the early 1990s. Today, Bloomberg brings in more than $10 billion annually. Over 20,000 employees work for the organization globally.
Michael Bloomberg Political Career
In 2001, Michael resigned from his position as CEO to compete for mayor of New York City. Three weeks after the September 11 terrorist attacks, he won the election.in January 2002, he was sworn in as the city of New York’s 108th mayor. He has progressive beliefs and is socially liberal.
In 2005, as he ran for a second term, he broke his previous spending record of $74 million by spending close to $78 million on his campaign. The largest margin ever for a Republican mayor of New York, he won re-election in November 2005 by a 20 percent margin. He was once more elected in 2009.
Michael Bloomberg invested $268 million of his funds in re-election campaigns for the third time while he was in office. Over the course of his three years, he also spent $890,000 on giving his whole workforce free breakfast and lunch every day. His third term as the mayor of new york ended in 2013.
He was eligible for a salary of $2.7 million as mayor over three terms, but he chose to make just $1 annually. Throughout his reign, he spent more than $6 million on travel, security, and other expenses.
Bloomberg formally started his campaign for the Democratic candidacy for president of the United States in the 2020 election in November 2019. Bloomberg set the record for the most costly U.S. presidential primary campaign with his $935 million self-funded campaign.
Michael reverted to his job as CEO of Bloomberg LP when his third tenure ended.
Michael Bloomberg Personal life
From 1975 through 1993, Michael was wed to Susan Brown-Meyer. Together, they have two daughters Emma and Georgina Bloomberg. Georgina is a socialite and owner of an equestrian team. Since the year 2000, Michael has been dating Former New York state banking superintendent Diana Taylor and they are still living together.
Michael Bloomberg’s Net Worth
Bloomberg is currently the 16th richest person in the world and the 10th richest person in the US with an estimated net worth of $82 billion. The estimated value of his privately held business, Bloomberg LP, accounts for the vast majority of his net wealth. If the corporation, with an estimated $10 billion in annual revenue, were ever put up for sale, it would have a minimum market value of $40 billion.
He owned 13 homes in 13 different nations in 2013; one of them was a $20 million Georgian estate in Southampton, New York. In 2015, he purchased 4 Cheyne Walk, a historic home in Chelsea, London, that had formerly belonged to author George Eliot.
He is the owner of six aircraft, including a Pilatus PC-24, a Cessna 182 Skylane, a Beechcraft B300, and three Dassault Falcon 900s. Additionally, Bloomberg owns two helicopters: an AW109 and an Airbus.