Michael Bloomberg

A 2012

Bloomberg with President

Michael Rubens Bloomberg (born February 14, 1942) is an American businessman, politician, philanthropist, and author. He is the co-founder, CEO, and majority owner of Bloomberg L.P., a global financial services, software, and media company. Bloomberg served as the 108th Mayor of New York City, holding office from January 1, 2002, to December 31, 2013. He is one of the richest people in the world, with a net worth estimated at over $50 billion.

Early Life and Education

Michael Bloomberg was born in Boston, Massachusetts, to William Henry Bloomberg, a bookkeeper, and Charlotte (Rubens) Bloomberg, a secretary. He grew up in a middle-class Jewish family in Medford, Massachusetts. Bloomberg attended Johns Hopkins University, where he earned a Bachelor of Science degree in electrical engineering in 1964. He then went on to attend Harvard Business School, where he received a Master of Business Administration in 1966.

Career

Bloomberg L.P.

After being laid off from the investment bank Salomon Brothers in 1981, Bloomberg used his severance check to start Innovative Market Systems, later renamed Bloomberg L.P. The company revolutionized the distribution of financial information and tools for the securities industry, with the Bloomberg Terminal becoming its flagship product. Bloomberg L.P. has since expanded into a global company, providing financial software tools, data services, and news to financial companies and organizations worldwide.

Political Career

Bloomberg entered politics in 2001, running for Mayor of New York City as a Republican. He won the election and was re-elected in 2005 and 2009. During his tenure, Bloomberg focused on public health, education, and environmental initiatives. He switched his party affiliation to independent in 2007 and later endorsed Democratic candidates in subsequent elections. Bloomberg briefly ran for the Democratic nomination for President of the United States in the 2020 election but withdrew and endorsed Joe Biden.

Philanthropy

Through his charitable foundation, Bloomberg Philanthropies, Michael Bloomberg has donated billions to various causes, including public health, the arts, education, the environment, and government innovation. He has been a significant supporter of efforts to combat climate change and has pledged hundreds of millions to anti-tobacco and anti-obesity campaigns.

Personal Life

Bloomberg has two daughters with his former wife, Susan Brown. He is known for his philanthropy, having signed The Giving Pledge, committing to give away the majority of his wealth. Bloomberg is also an author, having written several books on politics and financial advice.

Legacy

Michael Bloomberg's impact on business, politics, and philanthropy has been significant. His leadership in New York City post-9/11 helped stabilize and grow the city's economy. His philanthropic efforts have addressed critical global issues, making him a prominent figure in efforts to improve public health and combat climate change.