Michael Rubens Bloomberg is the Co-founder of Bloomberg L.P, a financial information and media company. Bloomberg is an American businessman, philanthropist, author and politician. He served as the Mayor of New York City from 2002 to 2013. He was also a candidate for the 2020 Democratic nomination for President of the United States.
At present, Bloomberg is the 13th richest person in the world, according to Forbes. His estimated net worth is $76.8B.
Bloomberg began his career at the securities brokerage Salomon Brothers before forming his own company in 1981. At Salmon Brothers, Bloomberg headed equity trading and later systems development. In 1973, he became a general partner at Salomon Brothers.
In 1981, Phibro Corporation bought Salomon Brothers and the management fired Bloomberg with $10 million for his equity in the firm. Using his $10 million Bloomberg, designed in-house computerized financial systems for Salomon, set up a data services company named Innovative Market Systems (IMS). The company sold customized computer terminals that delivered real-time market data, financial calculations and other analytics to Wall Street firms. The terminal, first called the Market Master terminal, was released to market in December 1982.
Innovative Market Systems (IMS) renamed itself Bloomberg L.P , in 1986. Subsequently, Bloomberg News, Bloomberg Radio, Bloomberg Message, and Bloomberg Tradebook were launched.
In 2001, to begin his political career he left the position of CEO of Bloomberg. In 2014, he announced that he would return to Bloomberg L.P. as CEO at the end of 2014.
His political career began on January 1, 2002, when he assumed office as the 108th mayor of New York City. Bloomberg won re-election in 2005 and again in 2009 too and served as the New York City's mayor till 2013. He is one of the four individuals to have served that long. As Mayor, he established public charter schools, rebuilt urban infrastructure, and supported gun control, public health initiatives, and environmental protections. He also led a rezoning of large areas of the city.
In November 2019, Bloomberg officially launched his campaign for the Democratic nomination for president of the United States in the 2020 election. In February 2022, he was nominated to chair the Defense Innovation Board.
Bloomberg, a member of Kappa Beta Phi and Tau Beta Pi, wrote an autobiography, Bloomberg by Bloomberg, with help from Bloomberg News editor-in-chief Matthew Winkler.
Michael Rubens Bloomberg was born on February 14, 1942, in the Brighton neighborhood of Boston, in a Jewish family. He graduated from Johns Hopkins University , in 1964 with a Bachelor of Science degree in electrical engineering. In 1966, Bloomberg completed his masters from Harvard Business School with a Master of Business Administration (MBA) degree. He is married to Diana Taylor and the couple is blessed with 2 children.