Michael Bloomberg is a very rich businessman who owns a company called Bloomberg LP. He used to be the mayor of New York City for three terms. He’s also known for giving a lot of money to help others, and he owns a publishing company.
Mike Bloomberg Net Worth
The richest people in the world are listed on the Bloomberg Billionaires Index. However, New York City’s former three-term mayor, Michael Bloomberg, isn’t on this list. According to Forbes, Bloomberg has gathered a fortune of $106 billion.
This places him just outside the top 10 richest people globally. He’s close in wealth to Google co-founders Larry Page, who ranks 10th with $114 billion, and Sergey Brin, who ranks 11th with $110 billion.
Bloomberg’s wealth mostly comes from owning 88% of Bloomberg LP, a company he started in 1981 that focuses on finance-related media. Forbes reports the company makes more than $13 billion in revenue.
Mike Bloomberg Early Life
Michael Bloomberg was born on February 14, 1942, in Boston. He grew up in Medford, Massachusetts, which is near Boston. He studied electrical engineering at Johns Hopkins University and graduated in 1964. To pay for his education, he worked as a parking lot attendant and took out loans.
Later, Bloomberg went to Harvard Business School and earned his MBA in 1966. After finishing school, he started working in finance at Salomon Brothers, a bank on Wall Street. His first job there involved counting bonds and stocks in the bank’s vault. Over time, he moved into bond trading and became a partner in 1972. By 1976, he had become a general partner at the bank.
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Mike Bloomberg: Political Life
Before Bloomberg became involved in politics, he was a Democrat. Later, he switched to the Republican Party so he could run for mayor of New York City. He won his first term shortly after the terrorist attacks on September 11, 2001.
He was re-elected for a second term in 2005. Bloomberg managed to change the city’s law on term limits and won a third term as an independent candidate in 2009.
As mayor, Bloomberg focused on improving the city’s public schools and redeveloping old industrial areas. He was one of the first politicians in the U.S. to restrict smoking, banning it indoors in offices and restaurants across the city. He faced criticism from conservatives when he tried to limit the size of sugary sodas sold in New York City.
Critics said Bloomberg seemed disconnected from everyday New Yorkers. Reports in the media suggested that the wealth gap in the city widened during his time as mayor. His administration also faced backlash for its “stop and frisk” policy, which many felt unfairly targeted Black and Latinx communities.
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