Michael Bloomberg net worth

Michael Bloomberg net worth

Net Worth: $27 Billion

About Michael Bloomberg

Michael Bloomberg net worth

Michael Rubens Bloomberg, or simply Michael Bloomberg, is a business magnate, philanthropist and politician from the United States. In 2002 he was elected to serve as the 108th Mayor of New York City and has remained in this position ever since. Michael is also known as the founder and the majority owner of multinational mass media and financial data company, Bloomberg L.P. According to the latest estimates, Michael’s company makes up around 1/3 of the total field market value. During the last two presidential elections Bloomberg was often mentioned as one of the possible candidates. However, he declined the opportunity to seek this office and chose to continue his service in New York instead. As for 2013, Michael Bloomberg net worth is estimated at $27 billion, placing him among the ten richest American citizens.
Michael was born in Boston, in a family of William Henry and Charlotte Rubens Bloomberg. Both of his parents were Jewish and educated their son in accordance to Judaism. During his early childhood Bloomberg was raised in Allston and latter in Brookline, before the whole family settled in Medford.

After graduation from high school, Michael enrolled at John Hopkins University, where he studied electrical engineering. In 1964 he started attending Harvard Business School, where Bloomberg eventually earned a Master of Business Administration diploma. The knowledge he gained in Harvard was useful in building his own business empire and helped to boost Michael Bloomberg net worth to its current heights.
Michael’s professional career took off in the early 1970s, when he became a general partner at Wall Street investment bank Salman Brothers. Less than ten years later Bloomberg sold his share for some $10 million. This severance package was the first significant contribution to the current Michael Bloomberg net worth. The talented businessman did not waste this fortune and used it to found a company known by the name Innovative Market Systems. In the late 1980s, following the significant investments from Merrill Lynch, the enterprise’s name was changed to Bloomberg L.P.
As was already mentioned, Michael started his company with an initial capital of $10 million. In the early 2010s Bloomberg L.P. had over 300 thousand terminals all over the world and in 2011 alone brought the revenue of nearly $8 billion dollars. Needless to say, the success of this innovative company is responsible for the biggest part of current Michael Bloomberg net worth. What about his personal life? In mid 1970s the future business magnate married Susan Brown from Yorkshire. Together the couple was raising two daughters, Emma and Georgina. The couple divorced in 1993, when Georgina was only ten years old. Today this girl is known as a professional horse racer, sponsored by Ariat International.

Now you have an idea why Michael Bloomberg net worth is this huge

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