Michael Rubens Bloomberg – businessman, 108th mayor of New York (2002-2013), philanthropist. He is one of the wealthiest people in the world according to Forbes, in 2016 he ranks 8th with a fortune of $ 45.6 billion. He is the ancestor and proprietor of the Bloomberg report business.
Place of Birth and Education
Born February 14, 1942, in Boston to a Jewish family, his father William Henry Bloomberg was born in Chelsea, Massachusetts (January 19, 1906-1963) to an immigrant family. Mother – Charlotte Bloomberg (January 1909 – June 19, 2011) in New Jersey.
Graduated from Johns Hopkins University and Harvard Business School in 1964. He obtained a bachelor’s degree and later a master’s degree in business management.
Business career
He commenced his enterprise career at Salomon Brothers, where he managed stock trading and was accountable for information systems. In 1981, Salomon was traded to a different landlord, and Bloomberg dissipated his job. Using his share of the profits from the sale of Salomon shares, in the same year he founded his firm Bloomberg LP, which collected, analyzed, and sold information about the state of financial markets. Michael Bloomberg individually formed a computerized information analysis operation for dealers and subsequently initiated an online service for exchanging stocks. Competitors rarely used computers in their work (the 80s were beginning), and most of them did not even hear about computer networks. Bloomberg’s prosperity is based on tangible supremacy over opponents in the application of computer technology. By mixing real-time quotes with analytics (neither Reuters nor Telerate procured such services), Bloomberg was capable to maintain a market niche that resembled to have no place.
The Bloomberg Empire encompasses television tubes, radio channels, and the worldwide programmed financial news network. At the moment, the company is one of the leading providers of financial news in the world. The number of employees of the company has reached 9,500 people in 130 countries around the world. The whole of subscribers to Bloomberg LP news surpassed 250 thousand.
Political career
In the New York mayoral election on November 6, 2001, Bloomberg decides to run for the Republican Party because there are too many candidates running for the Democratic nomination. Bloomberg spent $ 73 million of his own money on the 2001 election campaign and although New Yorkers historically support the more liberal Democratic Party in the election, he wins with 50%, while his opponent is only 48%. A significant role in its success was played by the support of the previous mayor of New York, Rudolph Giuliani, who received national recognition after the terrorist attacks of September 11, 2001.
During his first term, Bloomberg underwent several different transformations, differently accepted in society. So, among the unpopular transformations (among a certain part of the population) were tax increases, cuts in administration costs, and a ban on smoking in restaurants, clubs, and bars. Among the positively received results of Bloomberg’s tenure as mayor were a 20% reduction in crime in the city, economic growth, job creation through support for small businesses, construction of affordable housing, and school reform.
In 2005, Michael Bloomberg, with the help of a coalition of various political forces, was re-elected to a second term. The vote gap in the election was 20% – a record figure for a Republican mayor of New York. Bloomberg spent $ 1 million more on this campaign than on the previous one, which amounted to more than $ 74 million.
From 2005 to 2009, Bloomberg City Hall arranged to support the city resources, unemployment touched a record low. An innovative program to fight poverty through the creation of new jobs was launched, and a campaign to combat global warming was launched.
On October 2, 2008, Bloomberg announced that he would seek to change the number of terms for electing the mayor of New York from two to three, explaining that during the economic crisis, he should be the administrator of the city, as he is a primary authority in the area of economics. On October 23, the New York City Council declared the motion of the law with 29 votes in favor and 22 against, admitting Bloomberg to operate for the third time.
The election took place on November 3, 2009, and Bloomberg defeated his only opponent, Democrat William Thompson, now holding the position of financial auditor. However, Bloomberg’s advantage was not as significant as expected: only 50.5% of voters voted for him (of which 37% were Republicans). In 2014, the authorities of the mayor transferred to Bill de Blasio.
As mayor of New York, Bloomberg set himself a salary of $ 1 a year, he also did not use public housing, living entirely on business income.
Since January 31, 2014, he has been operating as UN Special Envoy for Cities and Climate Change.
On November 7, 2019, he applied to register as a Democratic presidential candidate in the Alabama primary. Member of the 2020 Democratic presidential primary.
On March 4, 2020, he decided to withdraw from the presidential race, withdraw his candidacy and support Joe Biden.
