Michael Bloomberg

Picture of Michael Bloomberg

Date of Birth: 02/14/1942

Age: 74

Place of birth: Boston

Citizenship: Russia


Michael Bloomberg was born February 14, 1942 to a Jewish family of descendants of immigrants from Russia. Father William Henry Bloomberg was born in Chelsea, Massachusetts, January 19, 1906 in the family of a Russian immigrant mother, Charlotte Bloomberg (nee. Rubens) was born on January 2, 1909 in New Jersey.

In 1964 he graduated from Johns Hopkins University and Harvard Business School. He received a bachelor`s degree and later a master`s degree in business administration.

He was married to Susan Brown, he has this marriage two daughters, born in 1979, Emma and Georgina born in 1983. Currently divorced.

Business Career

Business career began in the company of Salomon Brothers, where he headed the trading in shares and in charge of information systems. In 1981, Salomon was sold to a new owner, Bloomberg and lost his job. Using a portion of the profits from the sale of shares of the Salomon, he was in the same year founded his own firm Bloomberg LP, which collect, analyze and sell information on the state of financial markets. Michael Bloomberg personally developed a computer analysis of the information system for traders, and later opened an online service for stock trading. Competitors in their work almost did not use computers (80 more just beginning), but about kompyuternyeseti mostly not even heard. So far, in a Bloomberg success is based on a tangible advantage over competitors in the use of computer technology. By combining real-time quotes with analytics (such services do not provide any to Reuters, Telerate any), Bloomberg managed to occupy a market niche in which, it seemed, there was no room.

Bloomberg empire includes TV stations, radio stations, not to mention a worldwide network of financial news. At present the company is one of the leading providers of financial news in the world, the number of employees the company has reached 9,500 people in 130 countries. The number of subscribers to the news Bloomberg LP has exceeded 250 thousand.

As mayor of New York Bloomberg appointed himself a salary of $ 1, also enjoyed public housing, fully living on the earnings of the business.

According to Forbes` 2008 state M. Bloomberg estimated at US $ 20 billion, making him the 8th richest American. According to Forbes in 2009 as a result of the crisis state of M. Bloomberg declined to 16 billion US dollars, and again in 8th place in the ranking of the richest Americans. M. Blumberg is also one of the most generous philanthropists of the USA. In 2008 he donated $ 235 million to charity.

Political career

In the election of the mayor of New York, November 6, 2001 Bloomberg decides to run for the Republican Party, as the nomination of the Democratic Party claimed too many candidates. On the campaign trail in 2001 Bloomberg spent $ 73 million of his own money, and while New Yorkers in the elections has historically supported a more liberal Democratic Party, he wins 50% of the typing, while his opponent only 48%. A major role in its success was played by the previous mayor of New York Rudolph Giuliani, who after the attacks of September 11, 2001 received national recognition.

During his first term, Bloomberg held a number of different transformations for different socially accepted. So among the unpopular reforms (among a certain part of the population) were raising taxes, reducing administration costs, a ban on smoking in restaurants, clubs and bars. Among the positive measures were perceived reduction in crime in the city by 20%, economic growth, creation of new jobs by supporting small businesses, affordable housing, and school reform.

In 2005 Michael Bloomberg, with the help of a coalition of different political forces, he was re-elected for a second term. The gap in votes in the election was 20% - a record for the Republican mayor of New York. On the campaign trail Bloomberg spent $ 1 million more than the previous one, which was more than 74 million dollars.

From 2005 to 2009, City Hall Bloomberg managed to balance the city`s budget, has reached a record low unemployment. It was put in place an innovative program to combat poverty by creating new jobs, a campaign to combat global warming.

October 2, 2008, Bloomberg announced that he would seek to change the number of terms of the work of the mayor of New York City from two to three, explaining that that during the financial crisis, it should be the head of the city as a major specialist in the field of finance. October 23 New York City Council adopted a change in the law by 29 votes "for" and 22 "against", allowing Bloomberg to run for a third time.

Elections were held on November 3, 2009, and Bloomberg won them victory over his sole opponent, William Thompson, currently holding the position of the financial auditor. However, the preponderance of Bloomberg was not as significant as expected: only 50.5% of voters voted for him.