Michael Bloomberg
Born 1942 · Age 83
American businessman, majority owner and co-founder of Bloomberg L.P., three-term Mayor of New York City (2002–2013), philanthropist and 2020 Democratic presidential candidate.
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Life & Career Timeline
Born in Boston, Massachusetts
Michael Rubens Bloomberg born at St. Elizabeth's Hospital in the Brighton neighborhood of Boston.
Graduated Medford High School
Completed high school in Medford, Massachusetts.
BS in Electrical Engineering, Johns Hopkins University
Graduated with a Bachelor of Science in electrical engineering.
MBA, Harvard Business School
Earned Master of Business Administration (MBA) from Harvard Business School.
Hired at Salomon Brothers (entry-level)
Joined Salomon Brothers for an entry-level job with starting pay reported at $9,000/year.
Became general partner at Salomon Brothers
Promoted to general partner; headed equity trading later.
Headed equity trading & sales at Salomon Brothers
Led block trading/equities and later information systems for the firm (date approximate from sources).
Left Salomon Brothers with $10M buyout
After Phibro bought Salomon Brothers Bloomberg was fired/let go and received about $10 million for his equity.
Founded Innovative Market Systems (IMS)
Started a data services company (IMS) to deliver real-time financial data and analytics to Wall Street terminals.
Released Market Master (first Bloomberg Terminal)
IMS released the Market Master terminal (later widely known as the Bloomberg Terminal) to market in December 1982.
Merrill Lynch became first major customer
Merrill Lynch installed the early terminals as the company's first large customer (reported purchase of 22 terminals).
IMS renamed Bloomberg L.P.
Innovative Market Systems was renamed Bloomberg L.P.
Launched Bloomberg News
Bloomberg expanded into media with Bloomberg News (global financial news service) — launch reported around 1990.
Pamphlet 'The Portable Bloomberg' published by colleagues
Colleagues published a pamphlet collecting sayings/remarks to celebrate Bloomberg's 48th birthday (later cited in controversies).
Became chairman of Johns Hopkins board of trustees
Appointed chairman of Johns Hopkins University's board of trustees (served 1996–2001).
Published autobiography (with Matthew Winkler)
Published an autobiography (often cited as Bloomberg by Bloomberg / Bloomberg on Bloomberg).
Spent ~$73M of personal funds on 2001 mayoral campaign
Bloomberg spent approximately $73 million of his own money on the 2001 campaign.
Switched party registration to Republican to run for mayor
Bloomberg, previously a lifelong Democrat, switched registration in 2001 to run as a Republican for NYC mayor.
Elected 108th Mayor of New York City
Won the 2001 NYC mayoral election (weeks after 9/11).
Post‑9/11 rebuilding & rezoning initiatives
Led rezoning and large-scale redevelopment efforts that facilitated extensive commercial and residential construction after the September 11 attacks.
Inaugurated as Mayor of New York City
Assumed office as the 108th Mayor of New York City; accepted nominal $1 yearly salary.
Implemented smoking ban in indoor workplaces
Implemented a citywide smoking ban for indoor workplaces including bars and restaurants; became a model for other jurisdictions.
Launched 311 service (citywide non‑emergency line)
Introduced/expanded the 311 non-emergency city services line (major NYC customer-service initiative during his administration).
Re-elected as NYC Mayor (second term)
Won re-election in November 2005 by a wide margin; spent almost $78 million on campaign.
Co‑founded Mayors Against Illegal Guns
Co‑founded the coalition Mayors Against Illegal Guns with Boston Mayor Thomas Menino and others (later merged into Everytown).
New York City bans trans‑fat in restaurants
NYC became the first U.S. city to ban trans-fat from restaurants (law announced/declared Dec 5, 2006); implementation followed later.
Left Republican Party (returned to Independent in later years)
Bloomberg left the Republican Party in 2007 while considering future political options.
Announced PlaNYC / long-term climate & infrastructure planning
Promoted ambitious plans for reducing carbon and improving infrastructure (PlaNYC 2030 planning during tenure).
City Council votes to extend mayoral term limits
NYC Council voted (29–22) to extend term limits to allow three consecutive four‑year terms.
Signed bill extending term limits
Bloomberg signed the law extending term limits to allow a third term.
Received Mary Woodard Lasker Award for Public Service
Recipient of the Lasker Award for Public Service in recognition of public health achievements (reported 2009).
Forbes reports Bloomberg net worth at $16 billion (Mar 2009)
Forbes estimated Bloomberg's net worth at $16 billion in March 2009 (big jump from prior year).
Elected to third mayoral term (2009)
Won a controversial third term in November 2009 as an Independent on the Republican ballot line; spent $109.2 million on campaign.
Investigation into 2009 Independence Party donations
Reports revealed two $600,000 donations on Oct 30 and Nov 2, 2009 to the Independence Party leading to DA investigation (began Feb 2010).
Launched NYC Young Men's Initiative ($127M)
Launched a $127 million initiative to address disparities for young Black and Latino men; Bloomberg personally donated $30 million.
Received Horatio Alger Award (Class of 2011)
Honored as a member of the Horatio Alger Association's class of 2011 for perseverance and achievement.
Federal court rules stop-and-frisk implementation unconstitutional
A federal court found the city's implementation of stop-and-frisk violated citizens' Fourth Amendment rights and encouraged racial profiling.
Left office as Mayor of New York City
Completed three terms as mayor; succeeded by Bill de Blasio on Jan 1, 2014.
Returned as CEO of Bloomberg L.P.
Announced in fall 2014 that he would re‑assume the CEO role at Bloomberg L.P. at the end of 2014.
Discontinued post‑9/11 surveillance program targeting Muslim communities
The controversial program run with assistance from the CIA was discontinued in 2014.
Mayors Against Illegal Guns merged to form Everytown for Gun Safety
Mayors Against Illegal Guns (co-founded by Bloomberg in 2006) combined with Moms Demand Action to create Everytown for Gun Safety; Bloomberg committed substantial funding.
Made an Honorary Knight Commander of the Order of the British Empire (KBE)
Awarded an honorary KBE in 2014 for public service and philanthropy (honorary, non-citizen).
Spent eight months as full‑time philanthropist after leaving Mayor's office
Focused on philanthropy following mayoral tenure before returning to the company he founded.
Launched What Works Cities (first grants, $42M)
Bloomberg Philanthropies' data‑and‑governance program to help U.S. cities, originally offering $42 million in grants to 100 cities.
Considered independent 2016 presidential run
Publicly said he was weighing an independent bid for 2016 and said he'd be willing to spend up to $1 billion; later declined.
Declined to run for president in 2016
Announced he would not be a candidate for 2016 despite prior consideration.
Spoke at 2016 Democratic National Convention
Delivered a prime‑time speech endorsing Hillary Clinton and warning about Donald Trump.
Co‑authored 'Climate of Hope' (with Carl Pope)
Published Climate of Hope: How Cities, Businesses, and Citizens Can Save the Planet.
What Works Cities became a formal organization
The municipal data/governance program formalized into an organization (program evolution 2015–2017).
Donated $1.8B to Johns Hopkins University (largest gift in U.S. higher education)
Committed $1.8 billion to Johns Hopkins to guarantee need‑blind admissions and support students regardless of ability to pay.
Launched American Cities Climate Challenge ($70M)
Bloomberg Philanthropies launched a $70M program to help 20 cities accelerate action on climate change.
Bloomberg L.P. revenues reported ~ $10B (2018)
Bloomberg L.P. reported revenues on the order of $10 billion in 2018 (company milestone reported).
Pledged $80M to 2018 midterm efforts
Announced an initial pledge of $80 million to support Democratic congressional candidates and flip the House.
Rejoined the Democratic Party
Officially returned his political registration to the Democratic Party.
Self‑funded presidential campaign spending reported
Bloomberg self‑funded his 2020 campaign; Wikipedia reports $935 million total spent (record for any primary).
Public apology and reversal on Stop‑and‑Frisk ahead of 2020 campaign
Bloomberg apologized and disavowed aspects of his support for stop-and-frisk ahead of his 2020 Democratic run (political milestone/repudiation).
Bloomberg L.P. employees reported ~20,000 (2019)
Bloomberg L.P. reported about 20,000 employees worldwide as of 2019.
Bloomberg L.P. reported ~325,000 terminal subscribers (2019)
Company reported more than 325,000 Bloomberg Terminal subscribers worldwide and about 20,000 employees as of 2019.
Announced he would not run for president (initially)
Publicly stated on March 5, 2019 that he would not run for the 2020 Democratic nomination (later reversed).
Launched 2020 presidential campaign (Democratic primary)
Officially launched his campaign for the 2020 Democratic presidential nomination on Nov. 24, 2019.
Committed $40M to global COVID‑19 response
Bloomberg Philanthropies committed $40 million to help low- and middle-income countries prevent and manage COVID-19.
Suspended 2020 presidential campaign
Ended his presidential campaign on March 4, 2020 after winning only 61 delegates; endorsed Joe Biden.
Forbes estimated net worth at $106 billion (2021)
Forbes estimated Bloomberg's net worth at about $106 billion in 2021, ranking him among the world's richest.
Appointed Chair of the Defense Innovation Board
Assumed office as Chair of the U.S. Department of Defense's Defense Innovation Board (role began June 22, 2022).
Stepped down as CEO of Bloomberg L.P. (end of 2014–2023 CEO span)
Reported CEO tenure spans 2014–2023; Bloomberg ceased serving as CEO in or around 2023 (per Wikipedia timeline).
Awarded Presidential Medal of Freedom
Received the Presidential Medal of Freedom from President Joe Biden in 2024.
Part of investor group in $1.725B Baltimore Orioles purchase
Included in a consortium led by David Rubenstein that reached a $1.725 billion agreement to buy the Baltimore Orioles (Jan 2024 reported).
Major donations to 2024 election efforts (Harris & Democrats)
Reported donations in 2024 included $20M to a political action committee supporting Vice President Kamala Harris and $10M to the House Majority PAC, with additional reported $50M to Harris later.
Bloomberg Philanthropies lifetime giving reported at $21.1B
Bloomberg.org reports Bloomberg has given away $21.1 billion so far, with $3.7 billion distributed in 2024 alone.
Forbes net worth estimate (May 2025) $104.7B
Forbes reported Bloomberg's estimated net worth at US$104.7 billion in May 2025, ranking him among the world's wealthiest.
Reported lifetime philanthropic giving of $17.4B (Wikipedia, May 2025)
Wikipedia noted Bloomberg had given $17.4 billion to philanthropic causes in his lifetime (figure reported by sources as of May 2025).
Ended service as Chair of Defense Innovation Board
Service as Chair of the Defense Innovation Board is recorded as June 22, 2022 – January 14, 2025.
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