Skip to Content

Michael Bloomberg

« Back to Glossary Index

**Early Life and Education:**
– Michael Bloomberg was born on February 14, 1942, in Boston to a Jewish family.
– His grandfather was a Polish Jew, and his maternal grandfather was a Lithuanian Jewish immigrant.
– Bloomberg graduated from Johns Hopkins University in 1964.

**Business Career and Wealth:**
– Bloomberg started his career at Salomon Brothers in 1966, becoming a general partner in 1972.
– He founded Innovative Market Systems, later renamed Bloomberg L.P. in 1986.
– Forbes reported his wealth at $16 billion in 2009 and estimated his net worth at $94.5 billion.
– Bloomberg donated $8.2 billion to philanthropic causes and self-funded $935 million for his 2020 presidential campaign.

**Political Career and Legacy:**
– Elected as the 108th mayor of New York City in 2001, Bloomberg served three consecutive terms until 2013.
– Notable achievements include creating affordable homes, implementing smoking bans, and addressing disparities through initiatives.
– Controversies include the stop and frisk program, surveillance of Muslim communities, and term limits extension.
– Bloomberg’s legacy includes a managerial style and influence on NYC development.

**Mayoral Elections and Post-Mayoral Involvement:**
– Bloomberg won the Republican nomination in 2001, re-elected in 2005 and 2009, and extended term limits for a third term.
– He decided not to endorse a candidate in 2013 and remained active in political endorsements and philanthropy.
– Bloomberg considered but declined running for various political offices and rejoined the Democratic party in 2018.

**Philanthropy, Environmental Advocacy, and COVID-19 Response:**
– Bloomberg signed The Giving Pledge, donating over $9.5 billion, with a focus on public health, arts, environment, and education.
– His environmental advocacy includes donations to combat climate change and global initiatives like the Compact of Mayors.
– Bloomberg’s COVID-19 response involved significant donations, partnerships for contact tracing, and support for affected communities.
– He endorsed Joe Biden, contributed to Democratic campaigns, and supported environmental causes with substantial financial commitments.

Michael Bloomberg (Wikipedia)

Michael Rubens Bloomberg (born February 14, 1942) is an American businessman, politician, philanthropist, and author. He is the majority owner and co-founder of Bloomberg L.P., and was its CEO from 1981 to 2001 and again from 2014 to 2023. He served as the mayor of New York City for three terms from 2002 to 2013 and was a candidate for the 2020 Democratic nomination for president of the United States. He has served as chair of the Defense Innovation Board, an independent advisory board that provides recommendations on artificial intelligence, software, data and digital modernization to the United States Department of Defense, since June 2022.

Michael Bloomberg
Bloomberg in 2015
Chair of the Defense Innovation Board
Assumed office
June 22, 2022
Preceded byMark Sirangelo
108th Mayor of New York City
In office
January 1, 2002 – December 31, 2013
DeputyPatricia Harris
Preceded byRudy Giuliani
Succeeded byBill de Blasio
Personal details
Michael Rubens Bloomberg

(1942-02-14) February 14, 1942 (age 82)
Boston, Massachusetts, U.S.
Political partyDemocratic (before 2001, 2018–present)
Other political
Republican (2001–2007)
Independent (2007–2018)
Susan Brown-Meyer
(m. 1975; div. 1993)
Domestic partnerDiana Taylor (2000–present)
Children2, including Georgina
EducationJohns Hopkins University (BS)
Harvard University (MBA)
  • Politician
  • philanthropist
  • author
  • businessman
  • stock trader
WebsiteOfficial website

Bloomberg grew up in Medford, Massachusetts, and graduated from Johns Hopkins University and Harvard Business School. He began his career at the securities brokerage firm Salomon Brothers before forming his own company in 1981. That company, Bloomberg L.P., is a financial information, software and media firm that is known for its Bloomberg Terminal. Bloomberg spent the next twenty years as its chairman and CEO. As of April 2023, Forbes ranked him as the seventh-richest person in the world, with an estimated net worth of US$94.5 billion. Since signing The Giving Pledge, Bloomberg has given away $8.2 billion to philanthropic causes.

Bloomberg was elected the 108th mayor of New York City in 2001. He held office for three consecutive terms, winning re-election in 2005 and 2009. Pursuing socially liberal and fiscally moderate policies, Bloomberg developed a technocratic managerial style.

As the mayor of New York, Bloomberg 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, which facilitated massive and widespread new commercial and residential construction after the September 11 attacks. Bloomberg is considered to have had far-reaching influence on the politics, business sector, and culture of New York City during his three terms as mayor. He has also faced significant criticism for the city's stop and frisk program, support for which he reversed with an apology before his 2020 presidential run.

After a brief stint as a full-time philanthropist, he re-assumed the position of CEO at Bloomberg L.P. by the end of 2014. In November 2019, four months before Super Tuesday, Bloomberg officially launched his campaign for the Democratic nomination for president of the United States in the 2020 election. He ended his campaign in March 2020, after having won only 61 delegates. Bloomberg self-funded $935 million for his candidacy, which set the record for the most expensive U.S. presidential primary campaign.

« Back to Glossary Index