Michael Bloomberg
USA
Net Worth
$85B
Source of Wealth
Bloomberg LP
Global Rank
#18 of 100
About Michael Bloomberg
Michael Bloomberg is the founder, CEO, and majority owner of Bloomberg LP, the global financial data and media company that revolutionized how the world's financial professionals access information. After being let go from Salomon Brothers in 1981 with a $10 million severance, Bloomberg used the money to found Innovative Market Systems, which developed the Bloomberg Terminal — a groundbreaking computer system that gave traders and analysts instant access to real-time financial data, analytics, and news. The terminal became the indispensable tool of Wall Street and the global financial industry.
Bloomberg LP has grown from that single product into a vast media and information empire encompassing Bloomberg News, Bloomberg Television, Bloomberg Radio, Bloomberg Businessweek, and Bloomberg Opinion. The Bloomberg Terminal remains the company's core product, used by over 325,000 professionals in finance, and the company generates over $12 billion in annual revenue. Bloomberg's combination of technology innovation, data excellence, and journalistic integrity created an entirely new category in financial information services.
Beyond business, Bloomberg served three terms as Mayor of New York City, earning widespread acclaim for his data-driven governance, public health initiatives, and urban development programs. His philanthropic organization, Bloomberg Philanthropies, has given away over $17 billion to causes including public health, climate change, education, and gun safety. He is one of the most generous philanthropists in American history, and his giving focuses on solving problems through data, evidence, and innovation.
Key Achievements
Created the Bloomberg Terminal
Invented and built the Bloomberg Terminal, the most influential financial information system in history, used by over 325,000 professionals worldwide and generating billions in annual revenue.
Built a Media Empire
Expanded Bloomberg LP from a data terminal company into a comprehensive media organization including Bloomberg News, Television, Radio, and Businessweek.
Three-Term NYC Mayor
Served three terms as Mayor of New York City, implementing data-driven policies that improved public health, reduced crime, and spurred economic development.
Extraordinary Philanthropy
Donated over $17 billion through Bloomberg Philanthropies to public health, climate change, education, and government innovation programs in hundreds of cities worldwide.
Climate Leadership
Became the UN Secretary-General's Special Envoy for Climate Ambition and Solutions, and invested billions in clean energy and climate advocacy through his foundation.
Notable Quotes
“If you want to do something, you find a way. If you don't, you find an excuse.”
— Michael Bloomberg
“Getting the job done has been the basis for the success my company has achieved.”
— Michael Bloomberg
“In business, when things aren't working you change — or you die.”
— Michael Bloomberg
Key Decisions
Founded Innovative Market Systems (later Bloomberg LP) after leaving Salomon Brothers, investing his severance to build the first Bloomberg Terminal prototype.
Launched Bloomberg News to complement the terminal's data with original journalism, creating a 24/7 financial news operation that would grow into a major media organization.
Won election as Mayor of New York City, bringing his data-driven, results-oriented management approach to the governance of America's largest city.
Returned as CEO of Bloomberg LP after three terms as mayor, reinvigorating the company's technology development and expanding its global reach.
Committed $500 million to the Beyond Carbon initiative to close all remaining US coal plants and accelerate the transition to clean energy across the country.
Explore More
See how Glen Bradford applies these principles to his own investing. Long Fannie Mae & Freddie Mac junior preferred — and not going anywhere.