Michael Bloomberg

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Michael Bloomberg

Key takeaways

  • Billionaire businessman, founder and majority owner of Bloomberg LP.
  • Three-term mayor of New York City (2002–2013).
  • Major philanthropist focused on the arts, education, environment, public health, and government innovation.
  • Active in national politics (2016 support for Democrats, self-funded 2020 presidential bid) and gun-control advocacy (founder of Everytown for Gun Safety).
  • United Nations Special Envoy for Climate Ambition and Solutions (2025).

Overview

Michael R. Bloomberg is a businessman, media owner, philanthropist, and former mayor of New York City. He built Bloomberg LP from a single financial-data product into a global information and media company, and he has used his wealth to influence public policy, philanthropy, and politics.

Early life and education

  • Born Feb. 14, 1942, in Boston; raised in Medford, Massachusetts.
  • B.S. in electrical engineering, Johns Hopkins University (1964).
  • M.B.A., Harvard Business School (1966).
  • Began his finance career at Salomon Brothers in 1966, advancing to partner and later heading the firm’s information systems unit. He received a ~$10 million severance in 1981 when the firm was sold.

Bloomberg LP and media business

  • Founded Innovative Market Solutions with his severance money; this evolved into Bloomberg LP.
  • Bloomberg LP provides financial data terminals, analytics, news services, and media (Bloomberg Television, Bloomberg Radio, Bloomberg Markets magazine).
  • Acquired BusinessWeek in 2009 (renamed Bloomberg Businessweek).
  • As of January 2025 the company reported estimated revenues in the low tens of billions and Bloomberg owned a large majority stake.

Political career

Mayor of New York City (2002–2013)

  • Elected in 2001 and served three terms (initially as a Republican, later as an independent after a party switch).
  • Priorities included education reform, economic redevelopment, public health measures, and city management improvements.
  • Notable policies and controversies:
  • Implemented a citywide smoking ban in indoor workplaces, restaurants, and offices.
  • Sought restrictions on sugary drink sizes—an initiative that drew national attention and criticism.
  • Oversaw policies intended to reduce crime, including expanded use of stop-and-frisk, which critics said disproportionately targeted Black and Latino communities.
  • Faced criticism for perceived distance from average residents and for widening income inequality during his tenure.
  • Secured a third term after a change to the city’s term-limit law.

Post-mayoral politics and advocacy

  • Politically described as fiscally conservative and socially liberal.
  • Endorsed Hillary Clinton in 2016 and donated extensively to Democratic and liberal candidates in subsequent elections (including major donations toward winning a House majority in 2018).
  • Co-founded Everytown for Gun Safety (2006), a leading gun-control advocacy organization that has funded campaigns and advertising for gun-safety measures.
  • Prominent backer of environmental and clean-energy initiatives.

2020 presidential campaign

  • Entered the Democratic primary on Nov. 24, 2019, as a self-funded candidate and spent substantial personal funds (reported aggregate spending exceeded $1 billion).
  • Withdrew after Super Tuesday on March 4, 2020, and later endorsed the Democratic nominee.

United Nations and climate work

  • Serves as the U.N. Secretary‑General’s Special Envoy for Climate Ambition and Solutions (appointed by 2025).
  • Works to mobilize cities, businesses, and financial institutions to commit to net‑zero emissions by 2050 and to accelerate the global clean‑energy transition.

Philanthropy

  • Bloomberg Philanthropies concentrates giving on five core areas: the arts, education, the environment, public health, and government innovation.
  • Lifetime giving is estimated in the tens of billions; the foundation reported multi‑billion-dollar grants globally in recent years.
  • Philanthropic activities include major investments in public‑health campaigns, climate and clean‑energy programs, education reform, and civic initiatives.

Personal life

  • Married to Susan Brown from 1975 to 1993; they have two daughters.
  • Diana Taylor, a former New York State official, served as Bloomberg’s de facto first lady during his mayoralty.

Quick facts

  • Net worth: estimated around $100+ billion (estimates vary over time).
  • Bloomberg LP: global financial-data and media company with a multi‑billion dollar revenue base.
  • Mayoral service: 2002–2013.
  • Gun-control advocacy: co-founder of Everytown for Gun Safety (2006).

Conclusion

Michael Bloomberg is a polarizing but influential figure who has left a mark on finance, media, urban governance, philanthropy, and climate policy. His career blends entrepreneurship and public service, and his financial resources have allowed him to play a substantial role in national politics and global initiatives on public health and climate.