Michael Bloomberg Net Worth

How much is Michael Bloomberg’s net worth?

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net worth:	$96.3 billion
age:	82
Birth:	14 February, 1942
gender:	Male
Height:	1.70 m (5 ft 7 in)
country of origin:	United States of america
Sources of funds:	entrepreneur
Last Updated:	February 15, 2024

Introduction

Michael Bloomberg’s net worth is approximately $96.3 billion.

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Michael Bloomberg is one of the wealthiest people in the world, as he is the majority owner and founder of Bloomberg LP, a global financial media and data company.

In addition to being a world-renowned businessman, he is also known for having served as the Mayor of New York City multiple times and being a renowned philanthropist.

early life

Michael Bloomberg was born on February 14, 1942 in Boston Massachusetts.

After completing high school, he enrolled at Johns Hopkins University and received a Bachelor of Science degree in electrical engineering in 1964.

After obtaining his bachelor’s degree, he enrolled at Harvard Business School and received a master’s degree in business administration in 1966.

Livelihood

Before becoming one of the richest people in the world, Michael Bloomberg graduated from Johns Hopkins University and Harvard Business School.

He began his career in 1966 at the Wall Street investment bank Salomon Brothers, where he was promoted to the equities desk.

After becoming general partner in 1972, he led equity trading and later systems development at the company.

In 1981, Fibro Corporation purchased Salomon Brothers, and they fired Bloomberg, paying him $10 million for his equity in the firm.

Starting your own company

Using the money he received from the acquisition of Salomon Brothers, Michael Bloomberg founded a data services company called Innovative Market Systems.

This company sold customized computer terminals designed to display real-time market data and other Wall Street analysis.

In 1986, IMS was renamed Bloomberg LP and was used to give birth to Bloomberg Radio, Bloomberg News, and Bloomberg Tradebook.

Though the company thrived in the 80s and 90s, it also had some troubles with sexual harassment.

During this period, the company was sued four times by female employees for sexual harassment, and the company culture was compared to a fraternity.

However, this did not hinder Bloomberg’s success and by the time he left the position of CEO he had become one of the richest people in America with a net worth of billions.

A successful politician

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After stepping down as CEO of Bloomberg LP, Michael Bloomberg decided to pursue a political career and ran for mayor of New York City.

He took office in 2002, replacing Rudy Giuliani as the 108th mayor of New York City, one of the most expensive cities in the world.

Bloomberg was re-elected twice, in 2005 and 2009, though he struggled with low approval ratings early in his career.

While he was mayor, he turned the city’s $6 billion budget deficit into a $3 billion surplus, primarily by raising property taxes.

He also built more bike lanes, banned indoor smoking, opened Times Square to pedestrians and required chain restaurants to list calorie counts.

In addition, his administration vastly expanded its stop-and-frisk program, resulting in a nearly sixfold increase in stops.

Post-mayoral politics

Michael Bloomberg was frequently mentioned as a possible candidate for the 2008 and 2010 presidential elections.

Although he had refused to contest elections during those years, he had briefly considered contesting independently during the 2016 elections.

In 2018, he pledged $80 million to support Democratic congressional candidates, but by October of that year, he had pledged more than $100 million.

All the spending he has done during this election period has once again fueled rumors that he will run for president in 2020.

At first he encouraged the Democratic Party to nominate someone to defeat Donald Trump, but soon decided to contest the election himself.

presidential campaign

In November 2019, Michael Bloomberg officially launched his presidential campaign, funding it himself with all of the money from his personal wealth.

Because he entered the race late, he missed the first four primaries and caucuses, and also missed two lackluster debates.

Despite this, Bloomberg stayed in the race and used his wealth to advertise on television, radio, the Internet, and through the mail.

In total, he spent $676 million on his campaign, the most money ever spent on a presidential race.

However, no matter how much he claimed, his support in national polls never rose above 15% and remained stagnant until just before Super Tuesday.

Ultimately, Bloomberg suspended his campaign and decided to endorse Joe Biden only after he won in American Samoa.

In 2022, Bloomberg was named to chair the Defense Innovation Board and the following year, he served as a global advisor to the winners of the Earthshot Prize.

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Michael Bloomberg’s net worth is $96.3 billion.

Michael Bloomberg’s net worth has increased over time

Year	net worth
2009	$16 billion
2010	$18 billion
2011	$19.5 billion
2012	$22 billion
2013	$31 billion
2014	$33 billion
2015	$35.5 billion
2016	$40 billion
2017	$47.5 billion
2018	$50 billion
2019	$55.5 billion
2020	$48 billion
2021	$59 billion
2022	$82 billion
2023	$94.5 billion
2024	$96.3 billion

Highlights

Here are some of the best highlights of Michael Bloomberg’s career:

Award for Distinguished Leadership in Global Capital Markets (2003)
Richard A. Cook Gold Medal Award
Shorty Special Award for Foursquare Mayor of the Year (2012)
Lasker-Bloomberg Public Service Award (2009)

Favorite quotes from Michael Bloomberg

“Being an entrepreneur isn’t really about starting a business. It’s a way of looking at the world: seeing opportunities where others see obstacles, taking risks where others take refuge.” – Michael Bloomberg

“Don’t be afraid to prove yourself, have confidence in your abilities, and don’t let the bastards dominate you.” – Michael Bloomberg

“Progress is not inevitable. It is up to us to make it.” – Michael Bloomberg

“Entrepreneurship is having an idea for something great and knowing not how to do it, but the motivation and will to make it happen.” – Michael Bloomberg

3 Rules of Success by Michael Bloomberg

Now that you know all about Michael Bloomberg’s net worth and how he achieved success, let’s look at some lessons we can learn from him:

1. Be confident

Be firm and confident in yourself and your abilities at all times.

Carry yourself with pride and don’t let anyone bring you down, because you know who you are and what you can do.

2. Focus on opportunities rather than obstacles

Stay positive and focus on the opportunities that will benefit you, not on the obstacles that will slow you down.

Don’t let negativity and obstacles stop you from being your best self.

3. We create our own progress

Progress is a lifestyle, but it is also a lifestyle that you must choose in order to move forward and grow.

Progression is valuable, and it can make a huge difference if you’re doing it right.

Frequently Asked Questions

How much is Michael Bloomberg worth?

Michael Bloomberg’s net worth is estimated at $96.3 billion.

How old is Michael Bloomberg?

Michael Bloomberg was born on February 14, 1942, and currently, he is 82 years old.

How tall is Michael Bloomberg?

Michael Bloomberg’s height is 1.70 m, which is equivalent to 5 feet 7 inches.

Summary

Michael Bloomberg is one of the richest men in the world and he has earned a lot of wealth through his company.