Chronicle of Greatness: Michael Bloomberg

Michael Rubens Bloomberg KBE is an American businessman, politician, philanthropist and author. He is the majority owner and co-founder of Bloomberg L.P. He was the Mayor of New York City from 2002 to 2013 and was briefly a candidate for the 2020 Democratic Party nomination for President of the United States.

Bloomberg was born on February 14, 1942 to William and Charlotte Bloomberg and grew up in Medford, Massachusetts. He is a graduate of John Hopkins University and Havard Business School. He began his career at the securities brokerage Salomon Brothers before starting his own company in 1981. That company, Bloomberg L.P, is a financial information, software and media firm that is known for its Bloomberg Terminal. Bloomberg spent 20 years as its chairman and CEO.

Bloomberg has received honorary degrees from many universities including Havard University, University of Michigan, Tufts University and Rockefeller University to mention but a few. He has also received various awards and honours which include Yale School of Management’s Award and The Golden Shoe Plate Award of the American Academy of Achievement.

Michael Bloomberg is a philanthropist. He signed The Giving Pledge in August 2010. Since then, he has given away $9.5 billion overall including $3.3 billion in 2019. He also owns a foundation called Bloomberg Philanthropies Foundation and has also made some other philanthropic contributions.

Bloomberg assumed office as the 108th Mayor of New York City on Jan 1, 2002. He won re-election in 2003 and again in 2009. In March 2009, Forbes reported Bloomberg’s wealth at $16 billion, a gain of $4.5 billion over the previous year and the world’s biggest wealth increase that year. He moved from 142nd to 17th in the Forbes list of the world’s billionaires in two years.

Today, Michael Bloomberg is divorced after his 18-year marriage to Susan Brown-Meyer ended in 1993. He has 2 daughters – Emma and Georgina. Since 2000, Bloomberg has lived with former New York state banking superintendent Diana Taylor but has said that Susan Brown-Meyer remains his “best friend”.

The two lessons which should be noted in Michael Bloomberg’s life are as follows:

First, he utilized his resources: Bloomberg was fired when a new management bought Salomon Brothers in 1981 and was paid $10 million for his equity in the firm. He used this money to start Bloomberg L.P which is his main source of wealth today.

Secondly, he is a good leader: Bloomberg was elected as the Mayor of New York City thrice consecutively, being the first man to do so. This was as a result of his good administration as his victories in the elections were clear and New York City was greatly improved under his administration.

Hope you had a good read of chronicle of greatness. Enjoy the rest of the week.

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