Michael Bloomberg Net worth, Career and Ranking

Michael Bloomberg is a publisher, humanitarian, and successful entrepreneur who served as mayor of New York City for three terms. He is the founder and owner of Bloomberg LP. He is known worldwide as one of the wealthiest individuals. Bloomberg joined the 2020 Democratic presidential race on November 24, 2019, but he suspended his campaign in March 2020 to support Joseph Biden. 

The person who founded and owns Bloomberg LP, a news and business data company, is also the founder. He now owns a majority stake of 88% in the business. At NetwrothMama, we look at corporate entrepreneur net worth, life, career, and more. 

Michael Bloomberg net worth

Michael Bloomberg's net worth ranking in the world is 12th. The American politician and business mogul Michael Bloomberg has amassed significant wealth. Michael Bloomberg net worth is estimated at $106.2 billion. Michael Bloomberg's wealth can be attributed to his successful media company, Bloomberg LP, which provides valuable financial news and information. He has a majority ownership stake of 88% in the privately owned business.

Michael is well-known for his tenure as mayor of New York City. He is incredibly wealthy, ranking among the most affluent individuals globally and in the United States. He is currently ranked as the 12th wealthiest individual globally and the 8th richest in the United States. Bloomberg announced his candidature for president in November 2019, marking the beginning of his campaign for the 2020 election. 

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Early life

Bloomberg was born on February 14, 1942, at St. Elizabeth's Hospital in Brighton. His father's annual income peaked at six thousand dollars. William Henry Bloomberg passed away unexpectedly while he was in college. The Bloomberg Centre at Harvard Business School was named as a tribute to William Henry. The mayor of New York City has a Jewish background and attends Temple Emanu-El in Manhattan.

Bloomberg resided in Allston with his family. After two years had passed, they decided to relocate to Brookline, Massachusetts. They ultimately found a home in Medford, a neighborhood located in Boston. He remained at that location until he completed his college education. 

Bloomberg achieved the rank of Eagle Scout at the age of twelve. In 1960, he completed his high school education at Medford. Following that, he joined Phi Kappa Psi at Johns Hopkins University. While there, he crafted a blue jay costume for the spider at the school. After completing his BS in electrical engineering, he discontinued his college education in 1964. He put in much effort and earned his MBA from Harvard Business School in 1966.

Career

Business career

Michael Bloomberg started his career on Wall Street and went on to create a financial information company that is renowned globally. He steadily increased the ranks, starting from his early days at Salomon Brothers in 1966 and eventually becoming a general partner. Despite losing his job in 1981, Bloomberg used his knowledge of digital financial systems to establish Innovative Market Systems (IMS), which later became Bloomberg L.P.

With the introduction of the Market Master computer in 1982, Bloomberg L.P. revolutionized the way financial information was shared, solidifying its position as a global leader in the industry. Despite the company's success, it faced ongoing challenges, including incidents of sexual harassment.

Bloomberg's interest in politics led him to return to his role at Bloomberg L.P. following his tenure as mayor of New York City. Bloomberg has a genuine interest in more than just his business. He has also been involved in various philanthropic and sports ventures, such as his recent acquisition of the Baltimore Orioles. According to different sources, his wealth now places him among the wealthiest individuals globally, with a staggering net worth of $106.2 billion. 

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Political Career

Before entering politics, Bloomberg ran as a Democrat. During his campaign for mayor of New York City, he aligned himself with the Republican Party. He was elected to his first term as mayor shortly. In 2005, the people once more chose him. He started his third term in 2009, this time as an independent.

During his tenure as mayor, Bloomberg tried to enhance the city's public schools and renew areas converted into factories. He was one of the earliest American leaders to voice his opposition to smoking. He banned smoking in all indoor public places, including businesses and bars. 

Bloomberg Post-Mayoral Politics

During his tenure as mayor of New York City, Bloomberg decided to change parties and become independent. He is a politician who is well-liked in New York City and has a strong stance on financial responsibility and social issues. 

 Bloomberg supported Hillary Clinton, the Democratic Party nominee, in the 2016 presidential election, rather than Donald Trump, the Republican Party nominee. 

He mentioned that Republicans in Congress were not effectively monitoring Trump. Most of the $80 million that Bloomberg donated to congressional campaigns in 2018 was directed toward Democratic and liberal candidates. 

 He generously donated money to the Democrats' campaign with the hope that they would gain control of the House of Representatives.

In 2006, he joined forces with fifteen other American mayors to establish Everytown for Gun Safety, a collective effort to advocate for changes to the country's gun rules. 

As mayor of New York, he strongly advocated for policies promoting green energy use and generously supported environmental groups. 

Michael Bloomberg was officially added as a candidate for vice president in the Democratic primary for president of the United States in 2020 on November 24, 2019. 

Personal life

Bloomberg married Susan Elizabeth Barbara Brown, born in Yorkshire and a British citizen, in 1975. They have two lovely daughters, Emma and Georgina, born around 1979 and 1983, respectively. They were featured in the 2003 documentary Born Rich, which documented the lives of the children from the world's wealthiest families. Despite their breakup in 1993, Bloomberg has expressed that Brown remains his closest companion. Diana Taylor, a former bank executive in New York, has been living with Bloomberg since 2000. 

Michael Bloomberg Biography