In this success post, we are going to share Michael Bloomberg, one of the wealthiest people in the world, as he is the majority owner and founder of the global financial media and data company Bloomberg LP.
As well as being a world-renowned businessman, he is also known for having been the major of New York City several times and being an esteemed philanthropist.
As of 2020, Michael Bloomberg’s net worth is about $56 billion.
Michael Bloomberg Early Life
Michael Bloomberg was born on the 14th of February 1942 in Boston, Massachusetts. After comparing high school, he attended John Hopkins University and graduated in 1964 with a Bachelor of Science degree in electrical engineering.
After getting his bachelor’s degree, he attended Harvard Business School and graduated in the year 1966 with a master’s degree in business administration.
Michael Bloomberg Career
After graduating from college in the year 1966, he took a job at Salomon Brothers, which was a Wall Street investment bank. While working there, he began to move up the ranks within the company and eventually became a general partner in the year 1973.
In the year 1981, the bank was purchased by the Phibro Corporation, and he was fired and received a $10 million severance package.
In the year 1982, using the money from the severance package, he established an ‘Innovative Market Systems’ his very own financial data service firm. He was even able to get Merrill Lynch, a wealth management division from the Bank of America as a first customer.
The company turned out to be a huge success and was named Bloomberg LP in the year 1987, and it now has some other things like the Bloomberg News and Bloomberg Message.
Moreover, Bloomberg would soon be gone to pursue his political career. He won his first election while running for mayor in the year 2002, and he also won the following election in the year 2005 and again in 2009.
Bloomberg has shown that he is socially liberal and supports things such as citizenship for illegal immigrants, abortion rights, and same-sex marriage.
Michael Bloomberg Achievements
His passion for health guided new strategies like the increasing life expectancy, banning smoking, in the city by 36 months. Another groundbreaking achievement under his governance was observed with the NYC recorded as the only city with no poverty rise at the time of 2000-2012. He left the City Hall in the year 2013 and returned to his business with philanthropy as a top priority.
Moreover, Bloomberg took risks at different points when he had an established business and when he was elected mayor for the second time and even achieved an unparalleled success both of the times.
Also Read: Ma Huateng Biography: Success Story of Tencent CEO
