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About Michael Bloomberg Net Worth
Michael Bloomberg is an American politician and businessperson with a net worth of $70 billion. His wealth primarily stems from his ownership of Bloomberg LP, a media company specializing in financial news and information services. He possesses an 88% stake in this privately held enterprise. Notably, Bloomberg also holds the distinction of having served as the former Mayor of New York City. His financial standing positions him among the most affluent individuals in both the United States and the global context. As of the present, he ranks as the 12th richest person worldwide and the 8th wealthiest American. In November 2019, Michael Bloomberg formally entered the 2020 Presidential race.
Michael Bloomberg Net Worth
Michael Bloomberg has an estimated net worth of up to $70 Billion.
| Net Worth: | $70 Billion |
| Date of Birth: | Feb 14, 1942 (81 years old) |
| Age: | 81 years old |
| Gender: | Male |
| Profession: | Entrepreneur, Politician, Businessperson, Business magnate |
| Nationality: | United States of America |
| Country | United States of America |
| Ethnicity | St. Elizabeth’s Medical Center |
| Residence | United States of America |
| Complexion | White |
Within a decade of establishment, the rebranded Bloomberg LP had deployed tens of thousands of terminals, and today, over 300,000 Bloomberg Terminals are used worldwide. Each terminal, if not purchased in bulk, costs over $20,000 annually. By the early 1990s, the company’s valuation reached $2 billion. Presently, Bloomberg’s annual revenue surpasses $10 billion, and the company employs over 20,000 individuals across the globe.
Michael’s marital history includes a union with Susan Brown-Meyer from 1975 to 1993, resulting in two children. One of their offspring, Georgina Bloomberg, is recognized as a socialite who possesses an equestrian team. Since 2000, Michael has been in a relationship with Diana Taylor.
Michael Bloomberg Biography
Born on February 14, 1942, in Boston, Massachusetts, Michael Bloomberg was raised in a middle-class household and had a background in the boy scouts, achieving the status of Eagle Scout. He completed his education journey by graduating from Johns Hopkins University in 1964 with a degree in electrical engineering, followed by an MBA earned at Harvard Business School.
Directly after his time at Harvard, Bloomberg embarked on a career on Wall Street, securing a position at Solomon Brothers with an initial annual salary of $9,000. By 1973, he ascended to the position of partner at Solomon Brothers, overseeing equity trading. However, he faced a setback in 1981 when he was laid off after Solomon’s acquisition by a rival bank. During his time at Solomon Brothers, he had amassed $10 million worth of the company’s equity, equivalent to around $30 million when adjusted for inflation.
Subsequent to his job loss but armed with substantial capital, Bloomberg founded a venture called Innovative Market Systems. His keen insight was that financial institutions were willing to pay a premium for rapid access to high-quality business information. Within a year, Merrill Lynch placed orders for Innovative’s “Market Master” terminals, amounting to $30 million. These terminals paved the way for his renowned Bloomberg Terminals, which are now found globally.
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