Saturday, November 5, 2011

Michael Bloomberg

Michael Bloomberg was born on February 14, 1942 in Medford, Mass. He put himself through Johns Hopkins and Harvard and became a partner at Salomon Brothers. Bloomberg started his own company which revolutionized the distribution of financial information and made him a billionaire. In 2002, Bloomberg became mayor of New York City. He was re-elected for a second, then a controversial third term.

Businessman, politician. Born Michael Rubens Bloomberg on February 14, 1942 in Medford, Massachusetts. The son of a bookkeeper, Bloomberg put himself through Johns Hopkins University and Harvard University, where he earned an MBA in 1966. His first Wall Street job was with Salomon Brothers, where he quickly climbed the ladder, becoming partner in 1972.

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.

In 2002, Bloomberg entered the political arena when he became the 108th mayor of New York. Considered a liberal Republican, Bloomberg is pro-choice and in favor of legalizing same-sex marriage. His most popular program 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, citing 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.

Bloomberg published an autobiography, Bloomberg by Bloomberg, in 1997. He and his former wife, Susan Brown, have two daughters, Georgina and Emma.

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