Michael Rubens BLOOMBERG

Primary Position Co-Founder Age 74
Primary Company Bloomberg Birthday 14 Feb 1942
Estimated Net Worth At least $42.1 billion Residences Vail, Colorado, United States
New York, New York, United States
Bermuda
London, Greater London, United Kingdom
Source Self-Made
Hometown
Boston, Massachusetts, United States
Religion Jewish
Ethnicity Caucasian
Alternative Names Mike Bloomberg
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 data and analytic tools to Wall Street companies. He renamed the company Bloomberg in 1986. Investment bank, Merrill Lynch, became an investor as well as Bloomberg's first customer, acquiring a 30% stake for $30 million. In 1990, Bloomberg launched its Bloomberg News subsidiary, a press agency that operates a worldwide TV news channel and a web portal; also operates Bloomberg TV and Bloomberg BusinessWeek magazine. The company repurchased 10% of its shares from Merrill Lynch for $200 million in 1996. As his company grew, Bloomberg started to focus more on philanthropy. He has sat on the boards of numerous non-profit organizations, including Johns Hopkins University, where he helped build the Bloomberg School of Public Health into a leading institution of public health research and training. In 2001, Bloomberg stepped down as Chairman and CEO of Bloomberg to pursue a career in politics. He was elected Mayor of New York soon after for the first time in 2001 and was re-elected in 2005 and again in 2009. In 2010, he was elected Chair of the C40 Climate Leadership Group, a network of large cities from around the world committed to implementing meaningful and sustainable climate-related actions at a local level to help address global climate change; he served as Chairman and President. Bloomberg also serves as Co-Chair at Fix the Debt, a campaign to support America's fiscal and economic growth and as Chairman at the National September 11 Memorial & Museum, a New York-based memorial and museum commemorating the September 11 attacks in 2001. Bloomberg was married to Susan Brown; divorced in 1993. The pair has two children together, Emma and Georgina. Bloomberg currently resides in New York.

Education History

Institution Name Qualification Name Education Type Start Date End Date
Harvard University MBA Graduate 1966
Johns Hopkins University Bachelor's degree Undergraduate 1964

Interesting Facts

Attended Longines Global Champions, an equestrian world championship series which was held in Miami in April 2015 to support his daughter, Georgina with other millionaire parents, including Bruce Springsteen, Robert Louis Johnson and James Dinan.
Bloomberg acquired Businessweek from McGraw-Hill for between $2 million and $5 million in 2009. Bloomberg agreed to acquire legal, regulatory and business information provider, Bureau of National Affairs, for $990 million in August 2011.
In April 2013, Bloomberg appeared in a cameo role in the season finale of the American drama series, "The Good Wife."
In 2014, financial author, Michael Lewis, published "Flash Boys" which claims that the stock market is rigged due to the use of high frequency trading. Bloomberg did not agree with this notion, "You don't have to trade there. You as an investor don't have to tell everybody what you want to do. You can sit there and say, 'I'm not going to tell them that I'm going to sell my stock'."
Initially supported the war in Iraq, but his enthusiasm waned and in 2005 Bloomberg said, "I think everybody has very mixed emotions about the war that was started to find weapons of mass destruction and then they were not found."
Reportedly spent more than $650 million of his own money during his three terms in office, which included flying around in his own plane, political campaigns, donation to New York arts, civic, health and cultural groups and renovation expenditure of the official mayoral residence.
In 2010, Bloomberg joined American investor Warren Buffett's Giving Pledge, agreeing to donate 50% of his fortune to charitable causes. MacMillan, Thomas Secunda and Charles Zegar, the Co-Founders of Bloomberg, made the pledge as well. Before founding Bloomberg, the four were colleagues at Salomon Brothers. In August 2014, it was reported that Bloomberg had vowed to give away his entire fortune before his death for causes, including the reduction 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 January 2014, Bloomberg reportedly donated $2.5 million to a super PAC to help Senate Democrats maintain their majority in the 2014 elections.
In 2009, Bloomberg received a Healthy Communities Leadership Award from Leadership for Healthy Communities, a Robert Wood Johnson Foundation national program for his policies and programs that increase access to healthy foods and physical activity options in the city. Under Bloomberg's leadership, the city also passed a Green Carts bill, which supports mobile vendors in lower-income areas; expanded farmers' markets using the city's Health Bucks program which provides coupons to eligible individuals to buy produce at farmers' markets in lower-income area and committed $111 million in capital funding for playground improvements.
A few hours after the news that Nelson Mandela had died at the age of 95, Bloomberg announced his intention to name a new high school currently under construction in the Boys and Girls High School campus in Brooklyn, the Nelson Mandela School for Social Justice. Due to start in September 2014, this particular school is deemed particularly significant as it was where Nelson Mandela received a hero's welcome in 1990 on his first visit to the U.S. after being freed from prison; after having served 27 years for political offenses in South Africa.
In March 2015 Bloomberg along with Microsoft Co-Founder, Bill Gates launched a $4 million anti-tobacco trade litigation fund to assist developing countries fight off legal challenges from tobacco companies.
Bloomberg was honored by Johns Hopkins University, when its School of Hygiene and Public Health was renamed the "Bloomberg School of Public Health", in tribute to his leadership and use of philanthropy to improve human condition.
In March 2013, Bloomberg reportedly teamed up with the former U.S. Secretary of Treasury, Henry Paulson Jr. and American hedge fund manager, Thomas Steyer, despite their different political backgrounds, to initiate the Risky Business project, which is focused on determining the economic impact of climate change on U.S. businesses.
In April 2014, Bloomberg reportedly announced his plans to gather gun control groups such as Mayors Against Illegal Guns and Moms Demand Action for Gun Sense in America, which are funded by him, to form Everytown for Gun Safety, to focus on the legalization of expansive background checks on gun buyers. He also pledged around $50 million for the operation of Everytown for Gun Safety both at the state and national levels. The organization will initially start its work in 15 states, including Colorado, Washington, Texas, Montana and Indiana.
Reportedly rides the New York City Subway, from his 79th Street home to his office at City Hall. In 2007, a New York Times story asserted he was often seen chauffeured by two New York Police Department-owned SUV's to an express train station to avoid having to change from the local to the express trains on the Lexington Avenue line.
In 2008, Conde Nast Portfolio published "Mayor Bloomberg's Delicate Condition", which reported that the Equal Employment Opportunity Commission filed a 2007 suit against Bloomberg's company on behalf of three women and a group of women who worked for Bloomberg.
In July 2015, Bloomberg purchased a seven-bedroom mansion in Chelsea, U.K, for more than $26 million.
Bloomberg was part of the Phi Kappa Psi Fraternity of Johns Hopkins University.
In October 2013, Bloomberg reportedly planned to donate more than $1 million in advertising to support Democratic candidate, Terry McAuliffe.
Bloomberg supports governmental funding for embryonic stem cell research and same-sex marriage believing that "government shouldn't tell you whom to marry." Also supports the strict New York City drug laws. Claimed in a 2001 interview that he smoked marijuana in the past, "You bet I did. I enjoyed it." This led to a reported $500,000 advertising campaign by NORML, featuring Bloomberg's image and the quote. In a 2002 interview, he professed to be "a believer that we should enforce the laws, and I do not think that decriminalizing marijuana is a good idea."
During his tenure as Mayor of New York City, Bloomberg began a push to ban sodas over 16 ounces. The appeal for the ban was unsuccessful and was denied motion in March 2013. The appeal is set to be continued under Mayor de Blasio's administration. The city of New York had appealed for the ban at the Court of Appeals on June 4, 2014. The ban was eventually rejected by the State's Highest Court stating that the city's health board lacked authority to impose the ban and such policymaking is reserved for legislative bodies.
In 2007, Bloomberg delivered the commencement address at Tufts University. He was conferred an Honorary Degree in Public Service by the university. In 2007, Bloomberg delivered a commencement address at Bard College, where he was also conferred an Honorary Degree of Doctor of Humane Letters. In 2003, Bloomberg received the "Award for Distinguished Leadership in Global Capital Markets" from the Yale School of Management.
Bloomberg voiced support for abortion rights, "Reproductive choice is a fundamental human right and we can never take it for granted. On this issue, you're either with us or against us." Bloomberg has criticized pro-choice politicians who support pro-life candidates.
In 2007, Bloomberg was given a tribute award at the 2007 Gotham Awards, a New York based celebrator of independent film. In 2008, Bloomberg received the Hundred Year Association of New York's Gold Medal "in recognition of outstanding contributions to the City of New York." Additionally, he was conferred an honorary doctorate at Fordham University's 2009 commencement ceremonies.
Bloomberg was raised in a middle class home in Medford, Massachusetts. He attended Johns Hopkins University, where he paid for his tuition by taking loans and working as a parking lot attendant.
In October 2014, Bloomberg was reportedly honored as the "Honorary Knight of the Most Excellent Order of the British Empire" by The British Embassy in Washington. He was recognized for his prodigious entrepreneurial and philanthropic endeavors and for his work which helped bolster the UK-US special relationship.
In 2010, some of Bloomberg's money, in addition to $1.5 billion in assets from his family foundation, was reportedly transferred from Quadrangle Asset Management to an independent firm that is run by former Quadrangle advisors and managers.
In 2001, Bloomberg switched from being a Democrat to become a candidate of the Republican Party in New York. Bloomberg reportedly spent $74 million to become Mayor of New York City in 2001 and $85 million on re-election in 2005. Won the elections over Rudolph Giuliani in 2001.
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 April 2015, various media sources reported that Bloomberg was planning to run for the 2016 London, U.K, mayoral election. The three time New York mayor was considering standing as the Tory candidate to be mayor of London.
Bloomberg reportedly donated more than $3 billion to various causes and organizations. Among the top recipients is Johns Hopkins University, of which Bloomberg has contributed a total $1.1 billion over the past 40 years.
In May 2014, Bloomberg was awarded with the first ever Genesis Prize worth $1 million, which was given to him by the government of Israel in recognition of his "Jewish values." Instead of keeping the prize money, Bloomberg and The Genesis Prize Foundation then announced a global competition with 10 prizes of $100,000 available to entrepreneurs aged from 20 to 36 with innovative ideas based on Jewish values for a better world. During the award ceremony Bloomberg said, "I wanted to pay it forward, so to speak. To help others with the same sense of optimism and obligation, which is such an important part of Jewish tradition."
Bloomberg is the 108th Mayor of New York City.
In 2012, Bloomberg publicly declined to stand for presidential elections, "I'm not going to run for President, no way, no how."
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.
Was honored with the 2014 Friends of the Children award at the Harlem Children's Zone of the Children Dinner.
In 2011, Bloomberg visited the Foursquare offices and declared April 16 as official "Foursquare Day" in New York.
In April 2015, Bloomberg reportedly was named honorary knight. Queen Elizabeth II of London knighted him for his philanthropic work and his entrepreneurial accomplishments.
In 2011, Bloomberg commented on the arrest of Occupy Wall Street protesters at Zuccotti Park, "an unfortunate minority of Occupy Wall Street protesters had made conditions at the movement's encampment at Zuccotti Park intolerable, and that the city was required to evict protesters for their own health and safety." Protesters were told they could return after the park was clean but without sleeping bags, tents, or tarps.

Interests, Passion, Hobbies

Hobby Name Description
Environment Served as an Ex-Officio Trustee at the Wildlife Conservation Society. Bloomberg supports environmental protection causes.
Travel Enjoys hassle-free travel; has reportedly traveled to Mexico, U.K., Ireland, Israel, Albany and Athens by his private plane.
Art Bloomberg served as an Ex-Officio Trustee at The Metropolitan Museum of Art. He has reportedly made investments in New York art and cultural organizations.
Business - Entrepreneurship Co-Founder of Bloomberg, a multinational mass media company. He previously served as Chairman and CEO of the company.
Firearms - Gun Rights In August 2014, Everytown for Gun Safety, a gun safety group funded by Bloomberg, reportedly donated $1 million to the "Initiative 594" campaign, which requires background checks on gun sales and transfers across the state of Washington.
Animals - Fish Appears to love tropical fish. Bloomberg reportedly installed two giant aquariums in City Hall, when he was elected as Mayor. He also spent about $62,400 to clean the tanks every week.
Aviation - Private Jet 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.
Politics Thrice elected Mayor of New York; in 2001, 2005 and 2009.
Philanthropy Joined Warren Buffett's Giving Pledge and agreed to donate 50% of his fortune to charitable causes.
Writing In 1997, Bloomberg published his own autobiography, "Bloomberg by Bloomberg."
Aviation - Pilot's License Holds a pilot's license; known to particularly enjoy flying helicopters.

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.

Clubs & Boards

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Known Associates

Total known associates: 105. Total known associates net worth: $93.5 billion. To view details, sign up for Wealth-X Professional or Contact Us.

Family Details

Political Interests

Party Affiliation Independent Political Profile Registered voter and generous political donor gives to both sides of the political aisle. Lifetime giving exceeds $20 million. Recipients include Carolyn McCarthy, James H. Maloney, Nita M. Lowey, Jim McGovern, Daniel M. Donovan, Jr, the Independence U.S.A. PAC, and the RNC Republican National State Elections Committee. Bloomberg is the former Mayor of New York, New York. Longtime Democrat, Bloomberg switched his party affiliation in 2001 and ran for Mayor as a Republican, winning the election in 2005. In 2007, Bloomberg left the Grand Old Party (GOP) to become an Independent, a move that was believed to be a precursor to running for President of the United States. He instead won a controversial third term in 2009. Bloomberg was re-elected Mayor in 2005 and 2009. In June 2014, Bloomberg donated $250,000 to a super PAC that supported Mississippi Senator Thad Cochran. In July, he donated the same amount to a super PAC that supported South Carolina Senator Lindsey Graham. In September 2014, Bloomberg funded gun control group "Everytown for Gun Safety" and reportedly spent over $56,000 on adverts praising Democratic governor John Kitzhaber. The group also spent $22,000 on Democrat Chuck Riley, supporting him for the state senate against Republican Bruce Starr. In October 2014, Bloomberg reportedly donated $1.25 million to the campaign, Oregon Open Primary (also referred to as the "nonpartisan primary" or "top-two primary"), in support of the ballot measure campaign to change Oregon's primary election system.