Michael Bloomberg is an American business magnate who has also served as the Mayor of New York City
@Mayor of New York City, Family and Facts
Michael Bloomberg is an American business magnate who has also served as the Mayor of New York City
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Michael Bloomberg married Susan Brown in 1975. The couple had two daughters and divorced in 1993.
He is currently in a relationship with former New York state banking superintendent Diana Taylor.
Michael Bloomberg was born in Boston on 14 February 1942 into a Jewish family. His father, William Henry Bloomberg, was a real estate agent.
After completing his schooling he studied engineering at Johns Hopkins University and graduated with a Bachelor of Science degree in electrical engineering in 1964.
He then went to the Harvard Business School and earned his Master of Business Administration in 1966.
Following his graduation in 1966, he took up an entry-level position with Salomon Brothers, a Wall Street investment bank. Over the next few years he worked diligently and steadily moved up through the positions.
He became a general partner at Salomon Brothers in 1973. The bank was bought by Phibro Corporation in 1981 and Bloomberg was laid off from his job and given a $10 million severance package.
Using the money from his severance package, he went on to form Innovative Market Systems, a financial-data service firm, in 1982 and also served as its CEO. He acquired Merrill Lynch, the wealth management division of Bank of America, as his company’s first customer.
The company proved to be a successful one and was renamed Bloomberg L.P. in 1987. Over the years it introduced several ancillary products like Bloomberg News, Bloomberg Message, and Bloomberg Tradebook. Bloomberg eventually left the position of CEO to pursue a political career.
In 2001, Bloomberg, a lifelong member of the Democratic Party, decided to run for Mayor of New York City as a member of the Republican Party ticket. He funded much of his mayoral campaign himself, spending millions from his personal fortune. He won the election and assumed office as the 108th Mayor of New York City on January 1, 2002.
Michael Bloomberg is the founder of Bloomberg L.P., a financial software, data and media company headquartered in New York City. Formed as Innovative Market Systems (IMS) and later renamed, the company provides financial software tools such as an analytics and equity trading platform, data services and news to financial companies and organizations.