Michael Bloomberg is a business magnate, politician and philanthropist. He is the 108th and current Mayor of New York City, having served three consecutive terms since his first election in 2002. With a net worth of $27 billion, he is also the 7th-richest person in the United States. He is the founder and 88% owner of Bloomberg L.P., the global financial data and media company most famous for its Bloomberg Terminal.
Michael Bloomberg began his career at the securities brokerage Salomon Brothers before forming his company in 1981 and spending the next twenty years as its Chairman and CEO. He also served as chairman of the board of trustees at his alma mater Johns Hopkins University from 1996 to 2002. A Democrat before seeking elective office, Bloomberg switched his party registration in 2001 to run for mayor as a Republican. He defeated opponent Mark Green in close election held just weeks after the September 11 terrorist attacks. Bloomberg won a second term in 2005 and left the Republican Party two years later. He campaigned to change the city’s term limits law in the wake of the 2008 financial crisis and was elected to his third term in 2009 as an independent candidate on the Republican ballot line.
Michael Bloomberg was frequently mentioned as a possible independent candidate for the U.S. presidential elections in 2008 and 2012. However, he chose not to seek the presidency and instead focus on serving his final years as Mayor of New York.
In March 2013 Forbes reported Michael Bloomberg’s wealth as $27 Billion and ranked him as the 13th richest person in the world. In March 2012, Forbes reported Bloomberg’s wealth at $22 billion, ranking him 20th in the world and 11th in the United States. In March 2009, Forbes reported Bloomberg’s wealth at $16 billion, a gain of $4.5 billion over the previous year, enjoying the world’s biggest increase in wealth in 2009. At that time, there were only four fortunes in the U.S. that were larger (although the Wal-Mart family fortune is split among four people). He moved from 142nd to 17th in the Forbes list of the world’s billionaires in only two years (March 2007 – March 2009).
How Michael Bloomberg Made His Money – Business and Politics
Estimated Net Worth: $28 Billion
Birthday: February 14, 1942
[image via Rubenstein]