Michael Bloomberg
CEO, Bloomberg L.P.Birth DetailsFebruary 14, 1942 | Medford, Massachusetts, United States
NationalityAmerican
LeagueEntrepreneur
EducationElectrical Engineering, Johns Hopkins University; MBA, Harvard University
Net Worth$54.9 billion (as of July 31, 2020)
Michael Bloomberg's Assets:
Michael Bloomberg's Journey so far ...
Before you go ...
- Bloomberg L.P.
- Bloomberg Philanthropies
Michael Bloomberg's Journey so far ...
- Michael R. Bloomberg started his professional career working for the Wall Street firm Salomon Brothers as a trading room clerk in 1966 after completing business studies from Harvard
- Like other Wall Street investment banks, Salomon Brothers too had a merit-based work culture and by 1972 Bloomberg had risen to become a partner in the firm
- He was now in charge of equity trading and sales
- He was growing in his job but a few years later he was put in charge of the company’s information technology division, which at the time was considered to be a downgrade but he made the most of it later in his life
- Few years later, in 1981, Salomon Brothers was acquired by the commodity trading firm Phibro Corporation. Bloomberg was let go but his partnership buyout earned him $10 million
- Armed with the moolah and experience, Bloomberg immediately set out to build his own financial data firm. It was initially called Innovative Market Systems and counted Merrill Lynch as one of their early clients
- In 1986, the company was renamed as Bloomberg L.P.
- Their service/product was being used all across Wall Street and the company saw rapid growth throughout the ‘80s
- During the early ‘90s, Bloomberg diversified the company’s interests to include TV and news services which also went on to attain huge success
- He started a new chapter in his life when he was elected as the mayor of New York City in 2001, not long after the 9/11 attacks
- Apart from carrying out the much-needed renovation following the attacks, he also took a series of measures to drive economic growth across the city
- He was re-elected for a second consecutive term as mayor of the city in 2005 and in 2009 for a third
- During his tenure, he made several amends and introduced many regulations to improve public health, security, environment, etc.
- Soon after his 12-year run as a mayor, he returned to Bloomberg L.P. as its CEO
- An avid philanthropist, he founded Bloomberg Philanthropies in 2006 and has donated billions to support causes such as climate change, public health, education and many others
Before you go ...
- During his years as the mayor of New York City, he used to receive an annual salary of $1
- His autobiography Bloomberg on Bloomberg was released in 1997. He has also co-authored a book called Climate of Hope: How Cities, Businesses, and Citizens Can Save the Planet published in 2017
- Bloomberg officially registered to run for president in November 2019 but withdrew in March 2020
Last Updated: 12/02/2021
Michael Bloomberg News
- In 1981, Michael Bloomberg Was Fired from Salomon Brothers: His Severance Funded the Creation of Bloomberg L.P.Michael Bloomberg faced a career disruption at Salomon Brothers. This unexpected event, combined with his deep financial knowledge, became a catalyst. He used his severance pay to quickly launch a new venture. This move allowed him to build a lasting information and analytics company, demonstrating how disruption can lead to innovation and success.
- New York, long a city of contradictions, is still turning up new ones amid a defining mayoral electionNew York stands at a crossroads. A crucial mayoral election looms, promising to alter the city's long-established power dynamics. National political shifts and economic anxieties are also compelling New York to confront its core paradoxes. The city's future direction and identity are uncertain as these forces converge, with significant implications for America.
- From Ratan Tata to Warren Buffett: Who gave what among the world's biggest philanthropists?Ratan Tata's will directs a substantial portion of his wealth to charitable foundations, emphasizing education, healthcare, rural development, and social welfare. His example has inspired other billionaires in India and worldwide, including Warren Buffett, Michael Bloomberg, and Reed Hastings, to make significant philanthropic contributions.
- Warren Buffett's $5 bn giveaway & billion-dollar divorces: Check interesting facts about world's richest individualsThe Hurun Global Rich List 2025 reveals significant changes in billionaire fortunes, with Mukesh Ambani falling from the top 10 and Elon Musk surpassing $400 billion. Major business acquisitions, such as Mars and ExxonMobil's deals, alongside notable philanthropic donations by Warren Buffett, highlight key financial movements among the world's wealthiest.
- Billionaire Bloomberg to fund UN climate body after US withdrawal decision by TrumpBillionaire Michael Bloomberg announced Thursday that his foundation will step in to fund the UN climate change body after President Donald Trump declared the United States would withdraw from the Paris Agreement for the second time. Bloomberg's intervention aims to ensure the United Nations Framework Convention on Climate Change (UNFCCC) remains fully funded despite the United States halting its contributions.
- Our cities need real mayors with real jobPolitical theorist Benjamin R Barber argues that cities are better positioned than nation-states to address global challenges. However, in India, despite the 74th Constitutional Amendment Act of 1992, mayors remain largely powerless due to a lack of autonomy and resources, hindering effective urban governance.
- Trump sued over comments about notorious New York caseThe lawsuit, filed in a federal court in Pennsylvania, accuses the Republican White House candidate of making "false and defamatory" comments during the September 10 presidential debate with Vice President Kamala Harris in Philadelphia.
- 9/11 anniversary brings Joe Biden, Kamala Harris and Donald Trump together at ground zeroOn the anniversary of the 9/11 attacks, President Joe Biden, former President Donald Trump, and Vice President Kamala Harris attended ceremonies at ground zero. Victims' relatives called for accountability and justice, urging leaders to address Saudi Arabia's alleged involvement. The event highlighted the ongoing impact of 9/11 on U.S. foreign policy and domestic security. The ceremony included reading victims' names and laying wreaths at various attack sites.
- US commemorates 9/11 attacks with victims in focus, but politics in viewThe US is commemorating the lives lost and impacted by the 9/11 attacks, which killed nearly 3,000 people in 2001. This year's anniversary coincides with the presidential campaign season, with Vice President Kamala Harris and former President Donald Trump expected to attend observances at key sites. Organisers aim to keep the focus on victims.
- Warren Buffett donates record $5.3 bln Berkshire sharesWarren Buffett is donating another $5.3 billion of Berkshire Hathaway stock to the Bill & Melinda Gates Foundation and four family charities, his biggest annual donation since he began making them in 2006.
- Govt extends RBI deputy governor Michael Patra's tenure by one yearIndia has granted a one-year extension to the tenure of central bank deputy governor Michael Patra, as per a government document seen by Reuters. Patra, a career central banker, initially assumed the role in January 2020 for a three-year term.
- Michael Bloomberg outlines succession plan for media empireMichael Bloomberg co-founded Bloomberg LP in 1981, and as a philanthropist has donated millions of dollars towards his campaign aiming to shut down "every last" coal plant in the United States and slash gas-fired capacity in half by 2030.
- Media mogul Michael Bloomberg looking to buy Dow Jones or Washington Post: AxiosSuch a merger would create a financial data and news giant, further firming up the world's 12th-richest man's strong hold on the business and likely allowing his company to sell more Bloomberg Terminals - the main source of its revenue
- Bill Gates blasts crypto, NFTs as based on 'greater-fool' theoryGates has criticized crypto before, sparring with Elon Musk last year over whether Bitcoin is too risky for retail investors and the environmental harm of mining coins.
- PM Modi to address Bloomberg New Economy ForumThe forum will witness discussions centered on refuelling the economy and charting a course for the future as the global economy grapples with the COVID-19 pandemic, the Prime Minister's Office (PMO) said.
- Former Mayor Michael Bloomberg to spend $100 million on Joe Biden in FloridaBloomberg's late-stage infusion of cash reflects Democrats' concerns about the tight race in a state that is a priority for President Donald Trump. A victory for Biden in Florida, the largest of the perennial battleground states, would significantly complicate Trump's path to reaching the 270 Electoral College votes needed to secure a second term.
- Cancel your trip due to coronavirus? Airbnb refuses scores of refundsPart of the problem stems from Airbnb’s shared responsibility with hosts on refunds. Airbnb will give a full refund within the first 48 hours after a guest books a site. After that, it’s up to hosts to set how much of a refund they’re willing to offer.
- Billionaire Bloomberg suspends campaign, endorses Biden: Statement"Three months ago, I entered the race for president to defeat Donald Trump. Today, I am leaving the race for the same reason: to defeat Donald Trump -- because it is clear to me that staying in would make achieving that goal more difficult," Michael Bloomberg said in a statement. The billionaire former mayor of New York spent hundreds of millions of dollars on his presidential run.
- Billionaire Michael Bloomberg suspends campaign, endorses Joe Biden"Three months ago, I entered the race for president to defeat Donald Trump. Today, I am leaving the race for the same reason: to defeat Donald Trump -- because it is clear to me that staying in would make achieving that goal more difficult," he said in a statement.
- Joe Biden scores early wins over Bernie Sanders on Super TuesdayLeaving his rival Bernie Sanders behind in the Democrats' Super Tuesday contest, Joe Biden scored a win to challenge President Donald Trump. The indications were that he was on for a big night in his bid to bring American politics back to the center after four years of Trump's rightwing populism.
- Bernie Sanders roughed up, hits back at Democratic presidential debateSanders' rivals joined in savaging the self-described democratic socialist as too radical to appeal to a broad swathe of Americans. Sanders is in pole position in South Carolina hit back at the charge his policies were too "radical," insisting such ideas "exist in countries all over the world," including the notion that health care is a human right.
- Bernie Sanders' big Nevada win narrows rivals' path to Democratic nominationAccording to caucus entrance polls conducted by Edison Research, Bernie Sanders crushed the rest of the field with Latino voters and finished second only to Joe Biden with black voters. He was the top choice of voters younger than 65. He also won with college graduates and those without a degree, both men and women.
- Warren Buffett poised to address missed deals with cash pile growingBuffett has found little success deploying Berkshire’s growing pile of cash.
- Warren Buffett's annual letter to shareholders: Here's what to watch out forBuffett’s annual letter always spurs questions about succession for the 89-year-old CEO.
- India 'bigger problem' than China on reducing carbon emissions: US presidential aspirant Michael BloombergDuring his maiden appearance on a Democratic presidential primary debate in Las Vegas on Wednesday, the billionaire and philanthropist said, "In all fairness, the Chinese have slowed down. It is India that is an even bigger problem, but it is an enormous problem. Nobody is doing anything about it." Bloomberg also said it was "ridiculous" of the Trump administration to take the US out of the 2015 Paris climate agreement.
- What's next for Democratic presidential candidates after New HampshireThe two leading candidates from Iowa's caucus, Senator Bernie Sanders and former South Bend, Indiana, Mayor Pete Buttigieg, stayed at the top of the field. But Senator Amy Klobuchar surged to third, throwing the viability of both Senator Elizabeth Warren and former Vice President Joe Biden into question.
- Billionaire wars: Bloomberg and Trump may cater to the 'Aam-erican aadmi'. Really?US may get a choice of eating 'rich'.
- Social media powerful instrument of democracy: Indian PMHe also said that people should first check when they receive news on social media before forwarding it to others.
- In US, Modi to attend events related to counter-terrorismPrime Minister Modi is likely to meet chief executives of US companies separately.
- Michael Bloomberg's management advice: Don't undervalue labour force and overcompensate CEOsBloomberg is the former mayor of New York City.
- How hugging went from being the manifestation of affection to becoming a salutation for an intimate ageWhen hugging is mentioned in the 19th century it is considered very personal.
- Fashion forward! Bezos's power dressing, Nadella's casual statement at Sun ValleyAway from the numbers, the conference also serves as an unofficial fashion statement-making platform for the Valley elite.
- Bill Gates could soon become world's 1st trillionaireAccording to a report, the world would get its first trillionaire in the next 25 years.
- Good or bad, the government is doing things all the time. So this is a big change: Jamshyd GodrejIt’s not clear about the extent of the slowdown. That there has been a slowdown is a given but exactly how much, we can’t say.
- Hours before Brexit vote, polls show it's all evenly poised nowInvestors are piling money into bets on a victory for the “Remain” campaign, led by Prime Minister David Cameron, in Thursday’s plebiscite.
- Wish to be famous like Oprah Winfrey & Mark Zuckerberg? Habits you should followEveryday habits of wealthy people that we can learn from and get a better understanding of what goes on in their minds.
- Michael Bloomberg drops the idea of running for US presidencyBloomberg was critical of Ted Cruz, saying Texas senator's "pandering on immigration may lack Trump's rhetorical excess, but it is no less extreme".
- Clinton Sanders tie, Trump leads in Republican: latest pollRepublican presidential front- runner Donald Trump continues to lead among his rivals at the national level, while it is a tie between former Secretary of State Hillary Clinton.
- How Steph Curry, LeBron James and the NBA stole ChristmasThe Cleveland Cavaliers visit the Golden State Warriors on Friday for their first meeting since Cleveland lost at home in Game 6 of the 2015 Finals.
- 20 billionaires who believe in giving back to the societyScores of the world's wealthiest people have donated their riches to hundreds of causes. Here's a look at some of them.
- 21 highly successful people who rebounded after getting firedThese successful people prove that what may initially feel like failure may just be the launching pad you need for success.
- Prime Minister Narendra Modi seeks seat for India in UN Security CouncilPM Modi's pitch for reforms in UNSC comes amidst India's strong bid for a permanent seat in the expanded powerful world body.
- PM Narendra Modi seeks make in India in defence sector"Thank you my friend Mike Bloomberg for one more insightful interaction on policy and global issues," the Prime Minister said in a tweet after the meeting.
- Former NYC Mayor's $25 mn mansion in LondonThe opulent baroque-style pad boasts seven bedrooms and overlooks the Thames. Michael Bloomberg bought the historic mansion in the upmarket neighbourhood of Chelsea.
- Here are the summer jobs 19 super successful people had before they were famousFrom taming lions to selling bras, these famous people things that are outrageous in many ways.
- At $86 billion Bill Gates world's richest self-made billionaire: Wealth-X reportMicrosoft co-founder Bill Gates is the world's richest self-made billionaire with a personal fortune totaling nearly $86 billion, according to Wealth-X.
- Michael Bloomberg has donated $100 million to turn New York City into a tech hubMichael Bloomberg is donating a whopping $100 million to Cornell Tech, he announced during a groundbreaking ceremony Tuesday morning.
- Why Rudy Giuliani thinks it 'makes sense' for Michael Bloomberg to challenge Hillary ClintonGiuliani also noted the media mogul would have to battle against a fellow "centrist" Democrat, former Secretary of State Hillary Clinton.
- 10 books by billionaires that will teach you how to run the worldHere are 10 books which reveal how these self-made masters of industry achieved the impossible, in their own words.
- Impressed by PM Narendra Modi's commitment to clean energy: Michael BloombergLauding PM Modi for proposing new public health standards for emissions from coal-fired power plants, Michael Bloomberg has said.
- Bloomberg Philanthropies to launch website on Smart CityBloomberg Philanthropies will design and launch a website to involve citizens, urban local bodies and other concerned for the 'Smart City' project.
- 3 Indian-Americans among biggest philanthropists of 2015Ittycheria, 31, co-founded 'Enstitute' that bypasses college by placing its students in paid tech apprenticeships.
- India can dip into Bloomberg-Gates fund if tobacco litigation loomsSince the past few years, countries like Uruguay have been defending lawsuits from the tobacco industry at the World Trade Organisation
- PM Narendra Modi is a very smart and tough leader: Michael Bloomberg'You look at PM Modi and you think that you are the only one in the room. That's very important because that is how you get people to work with you and give good ideas. '
- Big B meets Michael Bloomberg, gets enlightenedBachchan, 72, conducted a public conversation with Bloomberg last evening, in the presence of his industrialist friend Anil Ambani and others.
- US' immigration laws prevent it from tapping into India's talent pool: Michael Bloomberg'We were lucky that Canada and Mexico which can replace us aren't big enough. We'd be in trouble because of our immigration laws,' says Bloomberg.
- Bloomberg Philanthropies team, Urban Development Ministry officials discuss smart city schemeThe discussions focused on the criteria for selection of cities to be developed under the scheme, its components, essential reforms required to be implemented.
- Smart Cities: UN envoy Michael Bloomberg meets PM Narendra Modi, Venkaiah Naidu, to help India in projectAccording to an official, they took note of the fact that while in India the central government is more pro-active in urban sector, it is the other way round in the US.
- Michael Bloomberg roots for India in Cricket World CupNew York City's former Mayor and media baron Michael Bloomberg wants India to lift the Cricket World Cup in Australia.
- PM Modi right in focusing on smart cities; will lead to stronger growth: Michael BloombergBloomberg said, "Prime Minister Modi is showing that confronting climate change goes hand-in-hand with smart economic growth."
- Four apps that will help you accomplish popular New Year’s resolutionsNext time you are in the US, instead of signing up for a gym membership try the ClassPass. You pay $99 for access to hundreds of studios in your neighbourhood.
- Wharton's Narendra Modi move augurs 'dark days' for plurality of views: OfficialThe University of Pennsylvania-based-forum had cancelled Modi's address in March last year apparently under pressure from anti-Modi groups.
- Preet Bharara, Indian-origin actress to speak at Harvard Law SchoolBharara and Kaling will address students and faculty on Class Day ceremonies, which will take place on May 28, according to Harvard Law Today report.
- Amitabh Bachchan can be influential in helping people reassess eating habits: Michael Moss'India may be able to help create truly healthy versions of processed foods that could work toward a global solution.'
- Michael Bloomberg named UN Chief's special envoy for climate changeUN chief Ban Ki-moon has appointed former New York City mayor Michael Bloomberg as the first special envoy for cities and climate change.
- Poke Me: Why Nandan Nilekani should become the CM of KarnatakaNilekani’s should aspire to become the CM of Karnataka. Working in the trenches will enhance his skill set and will prepare him for future duels.
- India’s job emergency needs cities with more empowered mayorsIndian cities need directly elected mayors, local committees that give citizens direct voice, transparency about land use and so on.
- London Mayor Boris Johnson rattles city's richLondon Mayor Boris Johnson launched an extraordinary attack against Britain’s super-rich, saying they ignored philanthropy in favour of buying “colossal grouse moorland”.
- Nandan Nilekani: Re-imagining the Indian politicianNilekani is thought to now believe that he has hit the "glass ceiling of change he can enable without popular legitimacy," say sources close to him about his decision to contest elections.
- Tycoon donates art worth over $1 bln to New York MuseumLauder said his gift was for "the people who live and work in New York and those from around the world who come to visit our great arts institutions".
- H-1B Visa cap reached; lottery will decide fateThe US Vice President, Joe Biden, supported the idea of increasing the quota of H-1B visas so as to attract best and the brightest from across the world.
- Garbage mess inspires political move by biz eliteThe garbage issue has become a turning point for greater participation by citizens in the civic affairs of Bangalore, Mazumdar-Shaw observed.
- Sandy-hit New York, New Jersey scramble to arrange alternate voting sitesA day before the US presidential elections, officials in New York and New Jersey, the two worst hit states by hurricane Sandy, were scrambling to put in place alternate voting sites to enable millions disrupted by the storm to cast their ballot.
- Hurricane Sandy: Toll from superstorm climbs to 30The death toll from superstorm Sandy has risen to 30 in the mainland United States and Canada, and was expected to climb further as several people were still missing.
- Why do Michael Bloomberg & Mamata Banerjee differ on consumption patterns?A study released this week in the US that concluded that not all obese people are unfit, has given an unexpected heft to the West Bengal CM’s exhortation against eating less.
- New York chases Silicon Valley with Manhattan's Roosevelt island siteNew York City's ambitions to challenge Silicon Valley as a technology center are taking root on a narrow isle in the East River.
- Sikhs in NYPD be allowed turban and beard: Bloomberg toldNew York city Mayor Michael Bloomberg has been asked to allow Sikhs to wear turban and sport a beard in the New York Police Department (NYPD).
- New York millionaires should pay more taxes, says city comptrollerNew York City's millionaires and billionaires should pay higher income taxes, according to a new proposal presented by the city comptroller.
- IIT-Mumbai, Amity University submit bids for engineering campuses in New YorkIIT Mumbai & Amity Univ are amg 15 institutions worldwide to have submitted bids to NY city to set up sci & engineering campus.
- NYC sees record tourism in 2010, after 2009 slipNew York City hosted a record number of visitors in 2010, a sign that the Big Apple's tourism industry is bouncing back after a decline the previous year when travelers everywhere tightened their budgets amid the recession.
- Mike Bloomberg pulling out $5bn assets from PE firm QuadrangleMedia baron and New York City Mayor Michael Bloomberg is pulling out $5 billion worth of personal assets from investment firm Quadrangle Group, a media report said
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