Table of Contents
- Who Is Michael Bloomberg?
- Key Takeaways
- Early Years and Education
- Bloomberg LP
- Important Advocacy
- Bloomberg's Political Life
- Bloomberg's Post-Mayoral Politics
- Presidential Candidate
- Bloomberg and the United Nations
- Bloomberg's Philanthropy
- How Rich Is Michael Bloomberg?
- Did Michael Bloomberg Run for President?
- How Long Was Michael Bloomberg Mayor of NYC?
- Is Michael Bloomberg Married?
- The Bottom Line
Who Is Michael Bloomberg?
Let me tell you directly: Michael Bloomberg is a billionaire businessman, publisher, philanthropist, and former three-term mayor of New York City. He's among the world's wealthiest with a net worth of $104.7 billion as of January 28, 2025, per Forbes.
He jumped into the 2020 U.S. presidential race as a Democrat on November 24, 2019, but suspended it in March 2020 to support Joe Biden.
Bloomberg founded and owns Bloomberg LP, a financial data and media firm, holding 88% as of January 2025.
Key Takeaways
You should know that Michael Bloomberg is a billionaire who owns the financial firm Bloomberg LP. He's deeply involved in politics, having been New York City's mayor for three terms. As a philanthropist, he's given billions to charities. He entered the 2020 presidential race in 2019 but dropped out in March 2020 to back Joe Biden. He also runs a multimedia business news company.
Early Years and Education
Bloomberg was born on February 14, 1942, in Boston and raised in Medford, Massachusetts. He got his undergraduate degree in electrical engineering from Johns Hopkins University in 1964, funding it through parking lot work and loans. Then he earned an MBA from Harvard Business School in 1966.
His career started in 1966 at Salomon Brothers, a now-defunct Wall Street bank, where he began by counting bonds and stocks in the vault. He advanced to bond trading, becoming a partner in 1972 and general partner in 1976.
In 1979, Salomon Brothers shifted him from head of equity trading and sales to run Information Systems—a demotion, but it put him in charge of computer tech implementation. When Phibro acquired the firm in 1981, he got a $10 million severance.
Bloomberg LP
With that $10 million, Bloomberg started Innovative Market Solutions, using cutting-edge info systems to deliver U.S. Treasury bond price data to traders. Merrill Lynch became a key client and investor in 1982. It evolved into Bloomberg LP, headquartered in New York with offices in 100 cities worldwide.
As of January 2025, Bloomberg LP has revenues over $13 billion. It runs data terminals for the financial industry, plus Bloomberg Television, Bloomberg Radio, and Bloomberg Markets magazine.
In 2009, the company bought BusinessWeek and renamed it Bloomberg Businessweek.
Important Advocacy
Know this: Michael Bloomberg strongly supports gun control and founded the nonprofit Everytown for Gun Safety. This group poured millions into digital ads for candidates pushing stronger gun laws during the 2020 election.
Bloomberg's Political Life
Bloomberg was a Democrat before politics, then switched to Republican to run for NYC mayor. He won his first term right after the September 11, 2001 attacks. He secured a second in 2005 and a third in 2009 by changing term limits, running as an independent that time.
As mayor, he targeted the public school system and revitalized industrial areas. He pioneered smoking limits with a citywide ban in indoor spaces. Conservatives mocked his attempt to cap sugary soda sizes.
Critics said he was out of touch with average people, and the wealth gap grew under him. His 'stop and frisk' policy drew fire for targeting Black and Latino communities unfairly.
Bloomberg's Post-Mayoral Politics
While mayor, he went independent. Politically, he's fiscally conservative but socially liberal—a common New York mix.
In 2016, he endorsed Hillary Clinton over Donald Trump and called congressional Republicans 'absolutely feckless' for not overseeing Trump.
He donated $80 million to 2018 congressional candidates, mostly Democrats, to help them take the House. He said, 'I've never thought that the public is well-served when one party is entirely out of power, and I think the past year and a half has been evidence of that.'
He's pushed gun control hard, co-founding Everytown for Gun Safety in 2006 with other mayors. He's also donated big to environmental causes and promoted clean energy as mayor.
Presidential Candidate
Bloomberg entered the 2020 Democratic presidential race on November 24, 2019, self-funding over $1 billion as reported to the FEC.
His motivation targeted Trump: 'I’m running for president to defeat Donald Trump and rebuild America. We cannot afford four more years of President Trump’s reckless and unethical actions. He represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage.'
He exited on March 4, 2020, after weak Super Tuesday results.
Bloomberg and the United Nations
As of January 2025, Bloomberg is the UN Secretary-General's Special Envoy for Climate Ambition and Solutions—his third such role. He aids in building coalitions of companies, governments, and financial institutions aiming for net zero by 2050.
He collaborates with private sector, civil society, and officials globally to foster a clean energy economy.
Bloomberg's Philanthropy
Through Bloomberg Philanthropies, he's donated about $21.1 billion lifetime, focusing on arts, education, environment, public health, and government innovation. In 2024 alone, it gave $3.7 billion worldwide.
How Rich Is Michael Bloomberg?
His fortune stands at $104.7 billion as of January 2025.
Did Michael Bloomberg Run for President?
Yes, he announced in 2019 for the 2020 race but dropped out in March 2020.
How Long Was Michael Bloomberg Mayor of NYC?
He served from 2002 to 2013 and pushed through the smoking ban.
Is Michael Bloomberg Married?
He was married to Susan Brown from 1975 to 1993; they have two daughters. During his mayoral terms, Diana Lancaster Taylor, ex-New York State banks superintendent, acted as the de facto 'first lady'.
The Bottom Line
Michael Bloomberg's influence spans politics, media, and business. He funds gun control, environmental programs, and more through philanthropy. As of 2025, he's a UN special envoy for climate ambition and solutions.
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