Michael Bloomberg is Michael Bloomberg is an American businessman, engineer, politician and philanthropist. Added to that, he is considered one of the wealthiest people in the United States. Let’s take a look at his life over the years, starting with his net worth.
Michael Bloomberg Net Worth As Of 2019: $51.7 Billion
Michael Bloomberg’s net worth is estimated to be around $51.7 billion. Let’s take a look at his life and career over the years just to see how he came so far!
The Early Years
Bloomberg was born in Boston and went on to attend Johns Hopkins University, where he joined the fraternity Phi Kappa Psi and ultimately graduated with a Bachelor of Science degree in Electrical Engineering. In 1966, he graduated from Harvard Business School with a Master of Business Administration.
In 1973, Bloomberg became a general partner at the Salomon Brothers Wall Street investment bank. In 1981, however, Bloomberg was laid off after the bank was bought by Phibro Corporation; although he had no severance package, he still owned around $10 million worth of equity as a partner at the firm. Bloomberg was later able to use this money to start his own company, Innovative Market Systems, focusing on business information, with Merrill Lynch becoming the company’s first customer, earning a $20 million investment at the time. By 1990, it installed around 8,000 terminals.
In 2001, Bloomberg decided to run for mayor as a member of the Republican Party ticket. By the start of 2002, he assumed office at the 108th Mayor of New York City. He later won a bid for re-election twice, first in 2005 and again in 2009. While initially running as a Republican, he later switched to the Independent party by 2007. By 2016, it was believed that Bloomberg was considering a presidential run as an independent election, making this the first time he was officially confirmed to be considering running, although he confirmed that he would not run later in the year. By 2018, he made plans to give $8p million to aid Democratic congressional candidates.
To aid his presidential run next year, Bloomberg LP’s CEO Michael Bloomberg is all set to sell the company.