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Michael Rubens BLOOMBERG

Primary Position:
Co-Founder
Primary Company:
Bloomberg
Estimated Net Worth:
At least $42.1 billion
Source of Wealth:
Self-Made
Age:
74
Birthday:
14 February 1942
Religion:
Jewish
Nationality:
United States
Hometown:
Boston, Massachusetts, United States
Marital Status:
Divorced

Biography

Native of Boston, Massachusetts, born in 1942. Bloomberg received his MBA from Harvard Business School. In 1966, Bloomberg started his career as a Trader at Salomon Brothers, an investment bank which is now a part of Citigroup. By 1972, he became a Partner at Salomon Brothers, heading equity trading and systems development. In 1981, Salomon Brothers was acquired by Phibro Corporation and Bloomberg was dismissed with a $10 million severance pay. He invested the money to start his own firm, Innovative Market Systems, which sells ...

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Education History

Institution Name:
Johns Hopkins University
Qualification Name:
Bachelor's degree
Education Type:
Undergraduate
Start Date:
 
End Date:
1964
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Interesting Facts

In 2014, Bloomberg Philanthropies reportedly planned to make an "impact investment" worth $5 million in the form of a low-interest loan to Little Sun, a Berlin, Germany-based solar-powered LED lamps manufacturer, which works with local entrepreneurs to sell its lamps at affordable prices to households, businesses and schools in the Sub-Saharan Africa regions, where electricity is scarce or unavailable. Bloomberg Philanthropies and Little Sun work towards similar causes including, climate change and smoke-related deaths, due to which the foundation made the investment.

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Interests, Passion, Hobbies

Kind of Interests, Passion and Hobbies: Aviation - Private Jet
Description: Reportedly on the exclusive waiting list to purchase an AgustaWestland AW609 Tiltrotor, a hybrid helicopter-plane, to be released in 2016. Reportedly owns a $4.5 million, six-seat Agusta SPA A109S helicopter and a Dassault Falcon 900 jet, both operated through Bloomberg LP.

Kind of Interests, Passion and Hobbies: Travel
Description: Enjoys hassle-free travel; has reportedly traveled to Mexico, U.K., Ireland, Israel, Albany and Athens by his private plane.

Kind of Interests, Passion and Hobbies: Politics
Description: Thrice elected Mayor of New York; in 2001, 2005 and 2009.

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Philanthropy

Giving Profile: Founder of the Bloomberg Foundation. In 2013, the foundation had more than $4 billion in assets and donated more than $200 million; gives primarily to educational, healthcare, and environmental causes. Notable recipients include John Hopkins University, World Lung Foundation, World Health Organization, Sierra Club Foundation, and John Hopkins Bloomberg School of Public Health. In 1996, Bloomberg endowed the William Henry Bloomberg Professorship at Harvard University with a $3 million gift in honor of his father, who died in 1963, saying, "Throughout his life, he recognized the importance of reaching out to the non-profit sector to help better the welfare of the entire community". Bloomberg also endowed his hometown synagogue, Temple Shalom, and renamed it for his parents as the "William and Charlotte Bloomberg Jewish Community Center" of Medford. In 2008, Bloomberg's website contributed a combined donation of $500 million with Bill Gates to help governments in developing countries with tobacco control. Bloomberg has been reported to be an anonymous donor to the Carnegie Corporation donating gifts ranging from $5 to $20 million. In 2011, Bloomberg and Chairman of Soros Fund Management, George Soros, reportedly pledged to donate $60 million over three years, through their private foundations, to improve educational and economic prospects for New York's young black and Latino men. In 2013, Bloomberg donated $350 million to the Johns Hopkins University towards cross-disciplinary education and financial aid, making his life time giving to the University exceeds $1 billion. On 28 February 2013, Bloomberg reportedly pledged $100 million to help the Bill & Melinda Foundation fight polio around the world. In 2014, Bloomberg pledged $50 million to the Planned Parenthood Federation of America. Bloomberg's contributions to public health includes a $375 million six-year investment to combat diseases and a program in Tanzania to improve maternal health. He is known to give to numerous New York City arts and cultural organizations. In August 2014, it was reported that Bloomberg had vowed to give away his entire fortune before his death for causes, including the reduction of high smoking rates in Turkey, Indonesia and other countries, to improve road safety in India and Kenya, to prevent deaths at childbirth to mothers in Tanzania, to bring down obesity levels in Mexico, to reduce traffic in Rio de Janeiro, Brazil and Istanbul, Turkey and to organize cities worldwide to become more environmentally friendly and efficient in delivering services. In September 2014 Bloomberg reportedly pledged to donate a total of $125 million over five years for road safety to reduce road death counts worldwide. Major focus would be given to poor nations with big cities. In January 2015, Bloomberg reportedly pledged to donate $48 million through his clean energy initiative to help U.S. states reduce coal-fired electricity and switch to cleaner sources such as solar and wind power, which would help to fulfill President Barack Obama's new mandated climate change goals. In April 2015, Bloomberg through his philanthropic arm Bloomberg Philanthropies launched a $42 million "What Works Cities" initiative aimed at helping 100 mid-sized cities to make better use of data and evidence. The initiative would create open data programs that boost government transparency. In addition, Bloomberg served as an Ex-Officio Trustee at Metropolitan Museum of Art; an organization that gives primarily to art, cultural, education and environmental causes.

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Clubs & Boards

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