Michael Bloomberg Net Worth, Money and More

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NET WORTH: $33 Billion

PROFESSION: American Business Magnate, Politician and Philanthropist

Here is a general knowledge question- Who was the Mayor of the New York City just before Bill de Blasio? I hope you all guessed it right because it is Michael Bloomberg. He is the eleventh most richest person in the United States of America. He is also the thirteenth most wealthiest in the world in 2013, with a net worth of $27 billion. Bloomberg held the office of the mayor for three consecutive times, starting from 2001 to 2013. Apart from his political career, he is also a sharp businessman. He is the humble founder of Bloomberg L.P., and also owns 88% of it. Mr. Bloomberg has been named as the special Envoy for Cities and Climate Change by the United Nations Secretary, General Ban Ki-Moon.

EARLY LIFE

Mr. Bloomberg was born in Boston, in the year 1942 and is of Jewish faith. He now practices Reform Judaism. His parents were William Henry Bloomberg and Charlotte Rubens Bloomberg. Bloomberg lived in quite a few cities like Allston and Brookline, but finally settled in Medford. He is an Eagle scout as well. Bloomberg’s alma mater is John Hopkins University. He was a member of the Phi Kappa Psi fraternity and earned his degree in Bachelor of Science in Electrical Engineering in 1964. In 1966, he decided to pursue Master of Business Administration from the most prestigious Harvard Business School.

BUSINESS

In 1973, A Wall Street investment bank called Saloman Brothers, saw Bloomberg as its General Partner. He headed equity trading and later on, systems development. After Saloman Brothers packed up, he was given a huge sum of $10 million as severance package. So, he used this money to open up his own company and named it Innovative Market Systems. He based the company on the idea that Wall Street was a pretty busy state of business affairs and it information as soon as possible- high quality information. The company was renamed as Bloomberg L.P. in the year 1987. In 2012, the company owned more than 310,000 terminals worldwide.

WEALTH

It is no secret that Bloomberg is really rich. In 2013, Forbes announced Bloomberg’s net worth to be $33 billion.  He was ranked the 13th richest person in the entire world. His assets include-

- Stokes Bay Home worth $10.5 million.

- Ballyshear worth $20 million.

- Victorian House worth $10 million.

- The Mountain Haus

- The Farmhouse worth $3.6 million

- 17 East 79th Street Townhouse worth $3.5 million

- Mooney Bravo

- Audi R8

- Chevrolet Suburban

PHILANTHROPY

Bloomberg proved to be an excellent mayor and his charitable acts have proved that he is a humble heart who believes in giving back to the community. He openly supports abortion rights. He says that every person is a free and independent individual who has his/her own freedom of choice and the choice of reproduction is included in that. Bloomberg also supports the Embryonic Stem Cell research. He is also just and treats all humans equally, ignoring their sexual orientation. He supports gay marriages and says that it is none of the government’s business to direct who a person can or cannot marry. Bloomberg accepts that he used to smoke marijuana in his past but his stand on the laws of NYC are rigid. He does not support the issue of decriminalization of the drug.

New York City is huge and in 2012, it was rated as the Dirtiest American City. In an attempt to improve the conditions around the city, Bloomberg devised a plan called as PlaNYC: A Greener, Greater New York, which basically aimed at fighting global warming and protecting the environment.

In 2011, a pilot program was initiated in various schools throughout the city which aimed at providing Plan B emergency contraception without parental consent. The program is now used in 13 schools.

Bloomberg’s philanthropies have been focused at 5 major areas: public health, the arts, environment, education and government innovation. Various charities which receive donations are Centers for Disease Control and Prevention, John Hopkins Bloomberg School of Public Health, World Lung Foundation and so on. In January 2013, John Hopkins University announced that it had received a total of $1.118 billion from Bloomberg.

Bloomberg has a heart of gold. He has generously donated $200 million for the construction of new buildings at John Hopkins Hospital. When we look at the general overview, Bloomberg has donated approximately $1.8 billion to around 850 charities.

PERSONAL LIFE

Bloomberg did the whole “married” thing. He is a man after his own heart. In 1975, he tied the knot with Susan Brown and the couple bore two beautiful daughters: Emma and Georgina. Unfortunately, the couple went through a divorce in 1993. However strained the marriage may have been, both the people have maintained that their friendship is still intact. As of now, Bloomberg lives with Diana Taylor. Apart from being a businessman and a politician, he is also a licensed commercial pilot and an amateur radio operator.

 

AWARDS AND HONORS

Michael Bloomberg has a lot of awards packed up in his career. Awards like Doctor of Humane Letters, Tribute award at Gotham Awards, Honorary doctrate at Fordham University (2009) and so forth. In 2010, Bloomberg was honored with the U.S. Senator John Heinz Awards for the Greated Public Service by an Elected or Appointed Official. Apart from this, Bloomberg was the first laureate of the Genesis Prize in 2013. It is an award presented every year for Jewish values.

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