Mike Bloomberg: How A Bookkeeper’s son Made it to the Top
Michael Rubens Bloomberg is an American businessman, author, philanthropist, and three-term mayor of New York City. He is Bloomberg L.P.’s co-founder, CEO, and controlling owner. In 2020, he ran for President of United States as a candidate for the Democratic Party. Since June 2022, he has presided over the Defense Innovation Board, an impartial advisory body that advises the US Department of Defense on issues related to digital transformation, software, data, and artificial intelligence.
According to Forbes Mike Bloomberg’s net worth as on 25th December 2022 is USD 76.8 billion. He is a global leader on climate change, public health, education, and other pressing challenges facing the United States and the rest of the globe because to his initiatives in government and philanthropy. To date, he has donated $12.7 billion, $1.66 billion of which was distributed in 2021.
Quick Facts
Name: Michael Rubens Bloomberg (Mike Bloomberg)
Occupation: Politician, author, philanthropist, businessman, stock trader
Designations: CEO of Bloomberg L.P.
Mike Bloomberg’s Age-80 year
Place of Birth: Boston, Massachusetts, U.S.
Marital Status: Divorced
Spouse’s Name: Susan Brown-Meyer (born 1975; divorced in 1993)
Children; 2 Daughters: Georgina & Emma
Zodiac Sign: Aquarius
Spoken Languages: Spanish & English
Hobbies: Reading Novels
Early life and education
Bloomberg was born on February 14, 1942, in Boston. His father William Henry Bloomberg used to work as a bookkeeper in a dairy company. At the Harvard Business School, his father William Henry was honoured by having the Bloomberg Center named in his honour. Since his family is Jewish, Bloomberg belongs to the Manhattan temple Emanu-El. Bloomberg’s paternal grandpa was a Polish Jew named Rabbi Alexander “Elick” Bloomberg. Bloomberg’s maternal grandmother was born in New York to Lithuanian Jewish parents, and his maternal grandpa, Max Rubens, was a Lithuanian Jew who immigrated from what is now Belarus.
When Bloomberg was two years old, the family moved to Allston, Massachusetts, then spent two years in Brookline, Massachusetts, before settling in Medford, Massachusetts, a Boston suburb, where he stayed up until he received his undergraduate degree. At the age of twelve, Bloomberg earned the rank of Eagle Scout. He earned his high school diploma from Medford in 1960. He continued his education at Johns Hopkins University and became a member of the fraternity Phi Kappa Psi.
He built the blue jay outfit for the university mascot when he was there. He received a Bachelor of Science in electrical engineering from the university in 1964. His Master of Business Administration (MBA) from Harvard Business School was awarded to him in 1966. Tau Beta Pi and Kappa Beta Phi are both organisations that Bloomberg belongs to. With the aid of Matthew Winkler, the executive editor of Bloomberg News, he penned an autobiography titled Bloomberg by Bloomberg.
Career
Bloomberg joined Salomon Brothers, a big Wall Street investment bank, as a general partner in 1973, where he oversaw equity trading and later systems development. When Phibro Corporation acquired Salomon Brothers in 1981, the new leadership fired Bloomberg and gave him a $10 million stock payment.
With this money, Bloomberg founded a data services company called Innovative Market Systems (IMS) after creating internal computerised financial systems for Salomon. Bloomberg did this because he thought Wall Street would pay more for high-quality business information that was delivered instantly on computer terminals in a variety of usable formats.
In order to provide Wall Street corporations with real-time market data, financial calculations, and other analytics, the company provided specialised computer terminals. The device was initially introduced to the market in December 1978 under the name Market Master terminal.
Michael Bloomberg’s Company changed its name to Bloomberg L.P. in 1986. Bloomberg News, Bloomberg Radio, Bloomberg Message, and Bloomberg Tradebook are just a few of the supplementary products that have been introduced over time. In 2018, Bloomberg, L.P. generated almost $10 billion in revenue. The company employs 20,000 workers across dozens of sites and has more than 325,000 terminal subscribers as of 2019.
Lex Fenwick and Daniel L. Doctoroff succeeded Bloomberg as CEO and deputy mayor respectively after he resigned his position to pursue a political career as the mayor of New York City. Lex Fenwick first served as Bloomberg’s deputy mayor. Bloomberg spent the first eight months of his post-politics career as a full-time philanthropist after serving his final term as mayor of New York City.
He revealed in the fall of 2014 that he would return to Bloomberg L.P. as CEO at the end of the year, replacing Doctoroff, who had been in charge of the business since February 2008. To run for president in 2019, Bloomberg resigned from his position as CEO of Bloomberg L.P. He was elected as the 108th Mayor of New York City on January 1, 2002 after a brief battle with the Republican Party’s backing. He was re-elected in 2005, but after some controversy forced him out of the Republican Party in 2008, he declared his candidature as an independent.
Fortunately, he won the position for a third time in 2009 after coming out on top. He worked to fix the city’s failing public school system while serving as mayor, which helped to enhance the city’s educational standards. He also promoted small enterprises, historic industrial zones, and other entities to foster economic development, entrepreneurship, and job creation.
Michael Bloomberg’s Family
In 1975, Bloomberg wed to Susan Elizabeth Barbara Brown, a British national and resident of Yorkshire, England. They have two daughters: Emma, and Georgina. Both of their daughters were featured in the Born Rich documentary from 2003, which focused on the offspring of the super-rich. Brown is still Bloomberg’s “best buddy,” despite the fact that they were divorced in 1993. Bloomberg and Diana Taylor, a former director of the New York State Banking Department, have been living together since 2000.
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