Michael Bloomberg is an American businessman, politician, philanthropist, and author. Best known as the co-founder and CEO of Bloomberg L.P., he is one of the most influential and wealthiest individuals in the United States. Bloomberg’s career spans across multiple sectors, including media, finance, politics, and public health, making him a prominent figure in both the corporate world and civic life.
Early Life and Education
Michael Rubens Bloomberg was born on February 14, 1942, in Boston, Massachusetts. Raised in a middle-class family in Medford, a suburb of Boston, he was the son of William Henry Bloomberg, a bookkeeper for a dairy company, and Charlotte Rubens Bloomberg. His parents emphasized education and hard work, which shaped Michael’s disciplined approach to life.
He earned a Bachelor of Science degree in electrical engineering from Johns Hopkins University in 1964 and later completed a Master of Business Administration (MBA) from Harvard Business School in 1966.
Career in Business: Founding Bloomberg L.P.
After graduating from Harvard, Bloomberg began his career at the investment bank Salomon Brothers. There, he gained experience in investment banking and securities trading. However, after 15 years, he was laid off in 1981. Using his severance package, he launched Bloomberg L.P., a company that provided real-time financial data, analytics, and news to Wall Street firms.
The flagship product, the Bloomberg Terminal, revolutionized the way financial professionals accessed and used data. Over time, the company expanded into media, launching Bloomberg News, Bloomberg Television, and other platforms. Today, Bloomberg L.P. is one of the largest financial information companies in the world.
Political Career: Mayor of New York City
Michael Bloomberg entered politics in 2001, running as a Republican candidate for mayor of New York City. Despite being a lifelong Democrat, he switched parties for strategic reasons. He won the election shortly after the September 11 attacks and took office in January 2002.
He served three consecutive terms as mayor from 2002 to 2013. During his time in office, Bloomberg focused on issues such as public health, education reform, environmental sustainability, and economic development. He is particularly known for:
- Implementing the smoking ban in public places.
- Introducing bike lanes and expanding green space.
- Launching PlaNYC, a long-term sustainability initiative.
- Overhauling the public school system.
His tenure was marked by data-driven governance and technocratic decision-making. However, he also faced criticism for extending term limits to run for a third term and for aggressive policing tactics under the “stop-and-frisk” policy.
2020 Presidential Campaign
In 2019, Bloomberg announced his candidacy for the Democratic nomination in the 2020 U.S. presidential election. Entering the race late, he self-financed his campaign, spending over $1 billion of his own money. His campaign focused on defeating Donald Trump and promoting gun control, climate change policies, and healthcare reform.
Despite heavy spending and a nationwide media presence, his campaign failed to gain significant traction, and he withdrew from the race after Super Tuesday, endorsing Joe Biden.
Philanthropy and Advocacy
Michael Bloomberg is also one of the world’s most prominent philanthropists. Through Bloomberg Philanthropies, he has donated billions of dollars to causes such as public health, education, environmental protection, the arts, and government innovation.
His major initiatives include:
- Funding anti-smoking campaigns worldwide.
- Fighting climate change through local and international efforts.
- Supporting gun control through Everytown for Gun Safety.
- Donating to COVID-19 response efforts.
As of 2025, Bloomberg has donated over $12 billion to charitable causes, and he has signed the Giving Pledge, committing to give away the majority of his wealth.
Personal Life
Bloomberg is known for his disciplined lifestyle and strong work ethic. He has two daughters, Emma and Georgina, from his former marriage to Susan Brown. Though a private individual, he has authored several books and frequently speaks on issues related to governance, economics, and philanthropy.
Legacy and Impact
Michael Bloomberg’s impact is vast and multifaceted. In business, he helped reshape the financial information industry. In politics, he brought a data-focused, managerial approach to city governance. In philanthropy, his global giving has helped millions of people in areas such as public health and climate action.
Though a polarizing figure at times, Bloomberg is widely respected for his intellect, leadership, and commitment to public service.
