Who is Michael Bloomberg? What is net worth of Michael Bloomberg? The American author, Michael Bloomberg is better known for his political and business endeavors. He is the 6th richest person in the United States of America, and ranks at the 6th spot in the list of richest people in the world. He is best known as the CEO owner and founder of a global financial service which also deals in mass media and software, called ‘Bloomberg L.P.’, which was originally established in 1981 under the name ‘Innovative Market Systems’. He has also severed as New York City’s 108th Mayor, holding the position for three consecutive terms, since his first win in 2001. He currently runs his own independent party for mayor elections, ever since 2007. He is a philanthropist, who actively works for numerous charitable causes and environmental welfare.
Michael Rubens Bloomberg was born in 1942 on 14th January to William Henry Bloomberg and Charlotte Bloomberg. He was born and brought up in a Jewish family in Boston. Bloomberg married a British national Susan Elizabeth Barbara Brown in 1975. The couple has two daughters together, Emma and Georgina, who featured in a documentary film about extremely wealthy children called ‘Born Rich’.
Christopher Frissora, who is the son of a Mark Frissora, a billionaire businessman is married to Bloomberg’s daughter Emma.
Susan and Michael separated in 1993, however remained friends even after the divorce.
As of 2010, Michael is in a live in relationship with Diana Taylor, who was a former banking superintendent at New York State.
Education: Michael garnered himself the title of Eagle Scout in his early days. He graduated in Electrical Engineering in 1964 from Johns Hopkins University. Later he completed a degree in Master of Business Administration from Harvard Business School in 1966.
He started off working for Salomon Brothers, which is a security brokerage firm. After months he became a general partner with the firm. In 1981, the company was bought by Phibro Corporation. Through the deal he received $10 million worth equity. Bloomberg used this money to open a new company ‘Innovative Market Systems’.
Merrill Lynch became his first customer in 1982, investing $30 million with the company.
Following this in 1987, he decided to rename the company as ‘Bloomberg L.A.’.
He is actively involved in politics, and has been a Mayor for three consecutive years, in New York City. The former Democrat resigned from the party, to stand for the position of mayor in 2001 as a Republican. Since 2007, he has been working politically as an independent entity.
Michael Bloomberg Net Worth
Bloomberg is an author, politician and a businessman. He has been working since 1967 and has a partnership worth $10 million with Salomon Brothers. His post graduation college degree definitely reflects in his career. He made almost $30 million with his first customer in ‘Bloomberg L.A.’. He is an idol to all the nerds, trying to make it big in the industry. He is the 10th richest person on the planet. Michael Bloomberg’s net worth is estimated to be around $50.8 billion US dollars as of 2017. His company had over 325,000 terminals in 2015, which we can guarantee have only increased. He also owns a radio network ‘1130 WBBR AM’ in New York City.
Michael Bloomberg Business Model
He is an active environmentalist, who advocates fighting climate change. In 2011, he donated $50 million to a campaign working to shut coal fire plants, called ‘Sierra Club’s Beyond Coal Campaign’.
He is also associated with ‘Kappa Beta Phi’, as a member. With the help of Editor in Chief Matthew Winkler at Bloomberg News, he wrote ‘Bloomberg by Bloombery’, which is his autobiography.
He has used his position and wealth to help different causes as well as the disadvantaged sections of society. In 2001, Mayors against Illegal Guns was co-founded by him, to prevent and restrict any form of street violence. He also supported same sex marriage.
In 2001, He stated that he has tried marijuana and loved the whole experience, which raised many communities to come up and criticize him, however later he apologized and expressed his belief that drugs shouldn’t be decriminalized.
He is a true asset to New York City, financially as well as politically. He has helped the state in becoming a better place. His charitable nature makes him worthy of his success and the position he holds.