This past week former mayor of New York City and billionaire, Michael Bloomberg announced that he will be throwing his hat in the ring for President of the United States. Bloomberg has been toying with the idea of running for President for a long time now, and it almost seems like every election cycle his name (and Oprah) get brought in. However, up until now Bloomberg has not registered as a presidential candidate....until now.
Let's get a little history so we can understand better:
Who Is Michael Bloomberg?
Michael Bloomberg was born on February 14, 1942, in Boston, Massachusetts. Bloomberg put himself through Johns Hopkins and Harvard and became a partner at Salomon Brothers. He started his own company which revolutionized the distribution of financial information and made him a billionaire. Bloomberg became mayor of New York City in 2002, and he later won election to a second and a controversial third term. Afterward, the businessman and philanthropist flirted with running for president and plunged himself into combating the effects of climate change.
Net Worth
As of September 2019, Bloomberg had a reported net worth of $56 billion.
Early Life and Financial Career
Michael Rubens Bloomberg was born on February 14, 1942, in Boston, Massachusetts. The son of a bookkeeper, Bloomberg put himself through Johns Hopkins University and Harvard University, where he earned a Master of Business Administration degree in 1966. His first Wall Street job was with Salomon Brothers, where he quickly climbed the ladder, becoming partner in 1972.
Bloomberg L.P.
When Salomon Brothers was bought in 1981, Bloomberg started his own company, Bloomberg L.P., built around a financial information computer that revolutionized the way securities data was stored and consumed. The company was enormously successful and soon branched into the media business with more than 100 offices worldwide. As one of the wealthiest men in the world, Bloomberg chose to turn his attentions to philanthropy, with an emphasis on education, medical research and the arts.
New York Mayor
Bloomberg entered the political arena in 2001, when he won election as the 108th mayor of New York. Calling himself a liberal Republican, Bloomberg said he was pro-choice and favored legalizing same-sex marriage. One of his most popular programs as mayor was establishing a 311 telephone line that put callers in contact with the city, allowing them to report crimes, trash problems or anything else. Bloomberg was re-elected mayor in November 2005.
Controversially, in 2008 Bloomberg was able to push through legislation allowing him to run for a third term as mayor, arguing that the particularly difficult economic climate and his financial skills warranted his remaining in office. After spending an unprecedented amount of his own money (upwards of $90 million) on the campaign, Bloomberg secured a third four-year term in November of 2009 — this time as an independent.
Bloomberg stepped down from his political duties in January 2014 and spent that year focusing on his philanthropic pursuits before returning as CEO of Bloomberg L.P. Democrat Bill de Blasio took his place as New York City's mayor.
Bloomberg does not plan on running in the early states primaries and has just filled to run in Alabama due to the fact that they have the earliest filling date. People close to Bloomberg say he is serious about running and will jump in the race soon. His opponents are accusing him of buying the election (he bring a lot of Wall Street power). He may try the "white knight" approach and come into the race at the right time. Bloomberg currently believes that none of the current candidates have what it takes.
Time will tell, but this race is heating up quickly.
Comments
Post a Comment