Michael Bloomberg Biography

Michael Bloomberg is an American business magnate who has also served as the Mayor of New York City. This biography of Michael Bloomberg provides detailed information about his childhood, life, achievements, works & timeline

Quick Facts

Birthday: February 14, 1942

Nationality: American

Famous: Philanthropists American Men

Also Known As: Michael Rubens Bloomberg

Sun Sign: Aquarius

Age: 76 Years

Born in: St. Elizabeth's Medical Center

Famous as: Mayor of New York City

Height: 1.73 m

political ideology: (Before 2001) - Political party Democratic, (2001–2007) - Republican, (2007–present) - Independent

Spouse/Ex-: Diana Taylor, Susan Brown

father: William Henry Bloomberg

mother: Charlotte Rubens Bloomberg

siblings: Marjorie Tiven

children: Emma Bloomberg, Georgina Bloomberg

religion: Reform Judaism

City, States, Provinces & Districts: Boston, Massachusetts

Ideology: Republicans

Founder/Co-Founder: Bloomberg L.P., Bloomberg Philanthropies

Net worth: $51.3 billion as of Mar 20, 2017

More Facts

education: 1964 - Johns Hopkins University, 1966 - Harvard Business School, Harvard University, Medford High School

awards: 2009 - Lasker-Bloomberg Public Service Award
2012 - Shorty Special Award for Foursquare Mayor of the Year - mikebloomberg
2013 - Tony Honors for Excellence in Theatre

2008 - Richard A. Cook Gold Medal Award
2007 - Gotham Independent Film Tribute Award
2003 - Award for Distinguished Leadership in Global Capital Markets

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Michael Bloomberg is an American business magnate who has also served as the Mayor of New York City for three consecutive terms beginning with his first election in 2001. He is the founder of Bloomberg L.P., a global financial data and media company in which he holds 88 percent of the shares. Counted amongst the wealthiest people in the world, he is also a much renowned philanthropist. A Harvard Business School alumnus, Bloomberg was noted for his brilliance and determination from a young age. Starting his career at an entry-level position with Salomon Brothers investment bank, he rose to become a partner in the firm within 15 years. When Salomon’s acquisition by another firm left him without a job, he went on to form his own company, Innovative Market Systems, a financial-data service firm, later renamed Bloomberg LP. The company was immensely successful and over the years grew into a multi-billion dollar global data and media company. Politically inclined from a young age, he ran for Mayor of New York City as a member of the Republican Party ticket in 2001 and won the election. A popular mayor, he won re-election in 2005 and again in 2009. Bloomberg has always believed in giving back to the society and is known to be a very generous philanthropist

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Michael Bloomberg
Childhood & Early Life
  • Michael Bloomberg was born in Boston on 14 February 1942 into a Jewish family. His father, William Henry Bloomberg, was a real estate agent.
  • After completing his schooling he studied engineering at Johns Hopkins University and graduated with a Bachelor of Science degree in electrical engineering in 1964.
  • He then went to the Harvard Business School and earned his Master of Business Administration in 1966.
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Career
  • Following his graduation in 1966, he took up an entry-level position with Salomon Brothers, a Wall Street investment bank. Over the next few years he worked diligently and steadily moved up through the positions.
  • He became a general partner at Salomon Brothers in 1973. The bank was bought by Phibro Corporation in 1981 and Bloomberg was laid off from his job and given a $10 million severance package.
  • Using the money from his severance package, he went on to form Innovative Market Systems, a financial-data service firm, in 1982 and also served as its CEO. He acquired Merrill Lynch, the wealth management division of Bank of America, as his company’s first customer.
  • The company proved to be a successful one and was renamed Bloomberg L.P. in 1987. Over the years it introduced several ancillary products like Bloomberg News, Bloomberg Message, and Bloomberg Tradebook. Bloomberg eventually left the position of CEO to pursue a political career.
  • In 2001, Bloomberg, a lifelong member of the Democratic Party, decided to run for Mayor of New York City as a member of the Republican Party ticket. He funded much of his mayoral campaign himself, spending millions from his personal fortune. He won the election and assumed office as the 108th Mayor of New York City on January 1, 2002.
  • He ran for a second term in 2005 and spent almost $78 million on his campaign, exceeding the record of $74 million he spent on the previous election. He was re-elected mayor in November 2005 by a margin of 20 percent, the widest margin ever for a Republican mayor of New York. He was re-elected again in 2009.
  • In April 2006, Bloomberg collaborated with Thomas Menino, Mayor of Boston, to form Mayors Against Illegal Guns, a coalition which advocates for gun control. There were 15 mayors when the group was initially formed, which had grown to 855 mayors by the end of 2014.
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  • He is socially liberal and holds progressive views. He supports abortion rights, same-sex marriage and citizenship for illegal immigrants. On economic and foreign issues, Bloomberg holds conservative views and supports government involvement in issues such as public welfare and favors free-trade.
  • As the mayor he placed a strong emphasis on public health and welfare. He accorded top priorities to HIV, diabetes, and hypertension, and implemented a pilot program which allows for girls over 14 years old to be provided with Plan B emergency contraception without parental consent.
  • His third term as the Mayor of New York City came to an end in 2013. In January 2014, United Nations Secretary-General Ban Ki-moon announced that he had appointed Bloomberg as his Special Envoy for Cities and Climate Change. Bloomberg also re-assumed the position of CEO in Bloomberg L.P. at the end of 2014.
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Major Work
  • Michael Bloomberg is the founder of Bloomberg L.P., a financial software, data and media company headquartered in New York City. Formed as Innovative Market Systems (IMS) and later renamed, the company provides financial software tools such as an analytics and equity trading platform, data services and news to financial companies and organizations.
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Awards & Achievements
  • In February 2003, Michael Bloomberg received the Award for Distinguished Leadership in Global Capital Markets from the Yale School of Management
  • In 2008, he received The Hundred Year Association of New York's Gold Medal "in recognition of outstanding contributions to the City of New York".
  • He received a Healthy Communities Leadership Award from Leadership for Healthy Communities – a Robert Wood Johnson Foundation national program in 2009.
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Personal Life & Legacy
  • Michael Bloomberg married Susan Brown in 1975. The couple had two daughters and divorced in 1993.
  • He is currently in a relationship with former New York state banking superintendent Diana Taylor.
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Philanthropic Works
  • As an individual who is passionate about giving back to the society, he is the founder of Bloomberg Philanthropies which encompasses all of his charitable activities, focusing on five areas: the environment, public health, the arts, government innovation and education. Bloomberg has pledged to donate the majority of his wealth.
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Net Worth
  • As of 2015, Michael Bloomberg has a net worth of $35.4 billion.
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How To Cite

Article Title
- Michael Bloomberg Biography
Author
- Editors, TheFamousPeople.com
Website
- TheFamousPeople.com
URL
https://www.thefamouspeople.com/profiles/michael-bloomberg-6415.php
Last Updated
- November 26, 2017

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Michael Bloomberg