Mike 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 to William Henry and Charlotte Bloomberg.
Became an Eagle Scout
Bloomberg earned the rank of Eagle Scout at age 12 (one of the youngest Eagle Scouts in history).
Graduated Medford High School
Completed secondary education at Medford High School (Massachusetts).
Father died (while Bloomberg was in college)
Bloomberg's father, William Henry Bloomberg, died suddenly while Michael was in college (approximate timing noted in sources).
Graduated Johns Hopkins University (BS, Electrical Engineering)
Earned a Bachelor of Science degree in electrical engineering from Johns Hopkins University.
Graduated Harvard Business School (MBA)
Received an MBA from Harvard Business School.
Hired by Salomon Brothers (entry-level)
Joined Salomon Brothers in New York as a trading room clerk, earning $9,000 per year.
Became general partner at Salomon Brothers
Promoted to general partner; headed equity trading and later systems development.
Company built ancillary products (message, Tradebook, radio, TV)
Over the 1980s/1990s Bloomberg launched ancillary products including messaging, Tradebook, radio and television operations (multi-year rollouts).
Founded Innovative Market Systems (IMS)
Used proceeds from Salomon buyout to found a data services company (IMS), the precursor to Bloomberg L.P.; initial capital reportedly included ~$300,000 seed plus the buyout funds.
Salomon Brothers acquisition — Bloomberg fired; received buyout
Phibro/other buyer acquired Salomon Brothers; Bloomberg was let go and received approximately $10 million for his equity stake.
Released Market Master terminal (first Bloomberg terminal)
The proprietary Market Master terminal (later known simply as the Bloomberg terminal) was released to market in December 1982.
Merrill Lynch became first major customer
Merrill Lynch installed the company's early terminals (sources report ~20–22 terminals) as the first major customer, providing crucial early revenue and validation.
IMS renamed Bloomberg L.P.
Innovative Market Systems formally renamed itself Bloomberg L.P., reflecting the brand around its terminal and services.
Launched Bloomberg News
Bloomberg expanded into media with the launch of Bloomberg News (newswire and reporting services), later adding TV, radio, Businessweek, and more.
Chairman of Johns Hopkins University Board of Trustees
Became chairman of Johns Hopkins' board of trustees (served 1996–2001).
Spent $73M on 2001 mayoral campaign
Bloomberg spent approximately $73 million of his own money on the 2001 mayoral campaign, far outspending opponents.
Left Bloomberg L.P. CEO role to run for mayor
Stepped down as CEO (first period 1981–2001) to pursue elective office as mayor of New York City.
Switched party registration to Republican to run for mayor
A lifelong Democrat before 2001, Bloomberg switched his voter registration to the Republican Party to run for New York City mayor.
Primary voting began the morning of 9/11 — primary postponed
The Republican primary began on the morning of September 11, 2001; voting was postponed later that day due to the terrorist attacks.
Elected 108th Mayor of New York City
Won the November 2001 mayoral election (succeeded Rudy Giuliani); took office January 1, 2002.
Inaugurated as Mayor; accepted $1 salary
Assumed office on January 1, 2002 as Mayor of NYC and accepted $1/year in lieu of mayoral salary.
Implemented citywide indoor smoking ban
Enacted a successful smoking ban in all indoor workplaces, including bars and restaurants (Smoke-Free Air Act of 2002 implemented broadly by 2003).
NYC hosted the 2004 Republican National Convention
Bloomberg's administration made a successful bid to host the 2004 Republican National Convention in New York City.
Re-elected Mayor (2005)
Won a second term in November 2005; spent nearly $78 million on his 2005 re-election campaign.
New York City became first U.S. city to ban trans fat (ordinance)
On December 5, 2006 the City passed a ban on trans fats from restaurants (implemented fully by July 2008).
Left the Republican Party (re-registered as Independent)
Two years after his 2005 re‑election, Bloomberg left the Republican Party and later ran his 2009 re-election as an independent on the Republican ballot line.
NYC Council voted to extend mayoral term limits (29–22)
City Council voted on October 23, 2008 to extend term limits, allowing a third consecutive term; Bloomberg signed the bill November 3, 2008.
Re-elected Mayor for third term (2009); campaign spending $109.2M
Won a third term in 2009 after term limits change; spent $109.2 million on his 2009 campaign.
Forbes reported net worth at $16B (March 2009)
Forbes reported Bloomberg's net worth at $16 billion in March 2009 — largest year-over-year gain in that period.
Signed The Giving Pledge
Committed to give away at least half his wealth by signing Warren Buffett & Gates' Giving Pledge in August 2010.
Launched NYC Young Men's Initiative
Launched a $127 million initiative to address disparities for young Black and Latino men; Bloomberg personally donated $30 million.
Donated $50M to Sierra Club's Beyond Coal
Bloomberg Philanthropies donated $50 million in July 2011 to expand the Sierra Club's Beyond Coal campaign.
Launched Risky Business initiative (with Hank Paulson and Tom Steyer)
Co-founded a project to quantify economic risks from climate change aimed at the business community.
Announced no endorsement in 2013 mayoral race
On September 13, 2013 Bloomberg announced he would not endorse any candidate to succeed him as mayor.
Term as Mayor ended
Concluded 12 years as New York City's 108th mayor on December 31, 2013; succeeded by Bill de Blasio on Jan 1, 2014.
Appointed UN Special Envoy for Cities and Climate Change
In 2014, UN Secretary-General Ban Ki-moon appointed Bloomberg as Special Envoy for Cities and Climate Change.
Vibrant Oceans Initiative five-year $53M commitment
Bloomberg Philanthropies committed $53 million over five years to the Vibrant Oceans Initiative (announced January 2014).
Returned as CEO of Bloomberg L.P.
After eight months out of office, Bloomberg reassumed the position of CEO at Bloomberg L.P. by the end of 2014.
Clean Energy Initiative partnership ($48M)
Bloomberg Philanthropies partnered with Heising‑Simons family in January 2015 to launch a Clean Energy Initiative with $48 million in initial commitments.
Spoke at 2016 Democratic National Convention
Delivered a speech endorsing Hillary Clinton and warning of risks of a Donald Trump presidency.
Gave $1.8B to Johns Hopkins University (largest gift in U.S. higher ed history)
Donated $1.8 billion in 2018 to Johns Hopkins to allow need‑blind admissions permanently.
Pledged $80M for 2018 midterm efforts
Pledged $80 million in June 2018 to support Democratic congressional candidates aiming to flip the House.
Re-registered as a Democrat
Officially returned to the Democratic Party on October 10, 2018.
Record campaign spending (primary) — $676M spent / $935M reported self-funding
Bloomberg spent heavily on the primary: sources report $676 million spent on the primary (and other reporting shows $935 million self‑funded figure associated with his candidacy), setting records for self‑funded spending.
Launched 2020 Democratic presidential campaign
Officially launched his campaign for the Democratic nomination on November 24, 2019; self‑funded campaign.
COVID-19 philanthropic commitments (2020)
Through Bloomberg Philanthropies committed to multiple COVID responses: co‑founded $75M NYC nonprofits fund; donated $6M to World Central Kitchen; partnered with Johns Hopkins for contact tracer training; committed $40M to help low‑/middle‑income countries.
Suspended 2020 presidential campaign; endorsed Joe Biden
Suspended his campaign after Super Tuesday (March 4, 2020); subsequently endorsed Joe Biden and donated to DNC activity.
Reappointed UN Special Envoy on Climate Ambition and Solutions
Reappointed by U.N. Secretary‑General António Guterres as Special Envoy for Climate Ambition and Solutions on February 5, 2021 (ahead of COP26).
Sworn in as Chair of the Defense Innovation Board
Nominated and sworn in as Chair of the U.S. Defense Innovation Board on June 22, 2022 (served through Jan 14, 2025).
Committed $500M more to Beyond Carbon (Sept 2023)
Committed another $500 million in September 2023 to Beyond Carbon to accelerate coal retirement and climate work.
Part of group that agreed to buy Baltimore Orioles (Jan 2024)
In January 2024, Bloomberg joined an investor group led by David Rubenstein that reached a $1.725 billion deal to buy the Baltimore Orioles.
Awarded Presidential Medal of Freedom
Received the Presidential Medal of Freedom from President Joe Biden in 2024.
Bloomberg Philanthropies reported $21.1B given away to date
According to Mike Bloomberg's site, he had given away $21.1 billion in lifetime philanthropic gifts, with $3.7 billion distributed in 2024 alone.
Forbes estimated net worth at $104.7B (May 2025)
Forbes reported an estimated net worth of $104.7 billion in May 2025, ranking him among the world's richest.
Last person to win NYC citywide office as a Republican (status as of 2025)
As of 2025, Bloomberg is noted as the last individual to win or hold citywide office in NYC as a Republican.
Key Achievement Ages
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