Michael Bloomberg Net Worth

Founded Bloomberg LP After Firing

After being fired from Salomon Brothers, Bloomberg used his $10 million severance to found Innovative Market Systems (later Bloomberg LP). The financial data terminal he developed would revolutionize Wall Street.

Bloomberg Terminal Dominates Wall Street

Bloomberg's proprietary terminals became indispensable on trading floors worldwide. The company's rapid growth and market dominance made Bloomberg a multihundred-millionaire.

Expansion into Media and News

Bloomberg expanded into television, radio, and print news, creating a media empire. This diversification increased both his wealth and public profile significantly.

Elected Mayor of New York City

Bloomberg won the NYC mayoral election as a Republican, self-funding his campaign with over $70 million. This transition from billionaire businessman to major political figure elevated his national prominence.

Third Term and Financial Crisis Leadership

Bloomberg successfully pushed for term limit changes to run for a third term, citing his experience during the financial crisis. His net worth continued to soar even as he served in public office.

Post-Mayoral Return to Bloomberg LP

Leaving office after 12 years, Bloomberg returned to his company and saw his wealth skyrocket. He became one of the world's richest people and a major philanthropic force.

Presidential Campaign Spending Spree

Bloomberg spent over $1 billion on his unsuccessful Democratic presidential primary campaign, the most expensive in history. Despite the political failure, his ability to self-fund demonstrated his extraordinary wealth and influence.

Global Business and Philanthropic Icon

Bloomberg remains one of the world's wealthiest individuals and most influential business leaders. His company dominates financial data services, and his philanthropic efforts in public health and climate change make him a universally recognized global figure.