Facts About Michael Bloomberg: Tenth Richest Man in the World


Here are some interesting facts about the American businessman, Michael Rubens Bloomberg, the tenth richest man in the world.

  1. Bloomberg is the CEO, and founder of Bloomberg L.P, a global financial service, known for its software Bloomberg Terminal. It helps the user monitor and analyze real-time financial market data and an electronic trading platform.
  2. Bloomberg earned his pilot license in 1976 and frequently flies his own helicopter, a six seat Agusta SPA A109s worth $ 4.5 million.
  3. He was born on February 14, 1942, in St. Elizabeth’s Hospital, Boston. His father, Henry Bloomberg was a bookkeeper and his mother Charlotte is accounting graduate from New Jersey. They are of descendent from Russian immigrants. He has a sister Marjorie Tiven.
  4. He lost his mother when she died on June 20, 2011. She was 102 years old. His father died in 1963.
  5. He graduated with Bachelor of Science degree in Electrical Engineering from Johns Hopkins University in 1964. Two years later he completed MBA from Harvard Business School.
  6. In 1973, he became a partner at ‘Salomon Brother,’ a Wall Street investment bank. He was heading the system development and equity trading.
  7. After ‘Salmon Brothers’ was sold in 1981, Bloomberg started his own company and called it ‘Innovative Market Systems.’ In 1987 the company was renamed ‘Bloomberg L.P.’
  8. The company has grown to more than 325,000 terminal subscribers with ancillary products like, Bloomberg News, Bloomberg Message, Bloomberg Tradebook and a radio network 1130 WBBR AM.
  9. Bloomberg won the New York City mayor election in 2001 as a Republican member. He spent $ 73 million of his own money and chose not to use public campaign fund.
  10. As a mayor he accepted remuneration of $ 1 annually apart from declining official residence and commuted by New York City Subway to office daily.
  11. Bloomberg won his second term at the office of Mayor with widest margin of victory and was noteworthy for his opposition to John Roberts’s confirmation as Chief Justice of United States. He believed Roberts was not committed towards abortion rights.
  12. He supports abortion rights and also of same-sex marriage. He believes ‘Reproduction choice is a fundamental human right.’
  13. In 2002, he regretted his remark in an interview in 2001 of his destiny with marijuana in the past. His remark led to advertising campaign by ‘NORMAL’ with his photo and quote.
  14. The Bill was passed on November 03, 2009, paved the way for Bloomberg to contest mayor’s election for third term. This term extension was opposed by New York Civil Liberty Union and NYPIRG.
  15. He won the mayor election defeating Bill Thompson by a vote of 51% to 46% for the third term. He was accused of money laundering during the campaign and an investigation was carried out by Cyrus Vance, the New York County District Attorney.
  16. Bloomberg was committed to climate change and was supportive of greenhouse gasses reduction. He unveiled ‘PlanNYC’ and reduced citywide greenhouse gas emission by 19% since 2005.
  17. He opposed timeline for withdrawal from the Iraq War. He was also at receiving end of many critics for not inviting any clergy or many emergency officials who responded to September 11, 2001 attacks for its anniversary ceremony.
  18. In April 2006, he along with Thomas Menino, mayor of Boston co-founded ‘Mayors against Illegal Guns.’ This is an American nonprofit organization, now going by the name ‘Everytown for Gun Safety.’ He increased the minimum sentence for illegal gun possession but was against death sentence.
  19. Bloomberg brought education board under direct control of mayor and was instrumental in increasing teachers’ pay hike. He opposed social promotion of students and he was for after school program to help them.
  20. In January 2011, he brought the city school girls under-14 with plan B emergencies contraception without parent consent. He also brought out a law limiting the practice of circumcision among Orthodox Jew.
  21. He emphasized the need for public health and welfare. All commercial buildings in the city was made smoking free and gave top priority for hypertension, diabetes and HIV disease.
  22. On January 31, 2014, he was appointed as special envoy for cities climate change by ‘United Nation Secretary General’ Ban Ki-Moon.
  23. As of September 2015, his wealth is reported to be around U.S $ 43.3 billion making him as the sixth richest person in the United States. His wealth in 2009 was just $ 16 billion.
  24. Through his Bloomberg Philanthropies Foundation, he has donated around U.S $ 1,650 million towards, public health, the arts, government innovation, environment and education.
  25. On August 17, 2016, the ‘World Health Organization’ appointed Bloomberg as its global ambassador for Noncommunicable Disease. He will mobilize private and political leader for their support.
  26. In 1975 he was married to Susan Elizabeth Barbara Brown before their divorce in 1993. They have two daughters, Emma and Georgina. He was into live-in relationship with Diana Taylor, the New York Banking Superintendent as of 2010.
  27. Bloomberg was awarded honorary doctorate Law degree by the Harvard University in 2014, for his public service and leadership in the world business.
  28. On October 06, 2014, he was named honorary ‘Knight Commander of the Order of British Empire,’ by Queen Elizabeth II, for his entrepreneurial and philanthropic endeavors.
  29. He is one of the 158 signers for the campaign ‘The Giving Pledge’ to encourage the wealthy people of the world to contribute majority of their wealth to philanthropic causes.
  30. He was criticized for backing the controversial “Stop and Frisk” policy of the NYPD. It became controversial because according to NYCLU’s data the majority of the people under scanner were blacks followed by Latinos.
  31. Michael Bloomberg net worth: His net worth is estimated to be U.S $48.8 billion and owns many properties with homes from New York to Bermuda.

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