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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
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