Michael Bloomberg Net Worth
Michael Bloomberg net worth: Michael Bloomberg is an American politician and entrepreneur who has a net worth of $56 billion. Michael Bloomberg is famous for being the former Mayor of New York City and the founder and 88% owner of Bloomberg LP, a financial news and information services media company. He is one of the wealthiest men in New York and in America. Michael Bloomberg was born on February 14, 1942 in Boston, Massachusetts. He achieved success very quickly. In fact, he became a General Partner with the Salomon Brothers brokerage firm while still quite young. The firm discharged him in 1981 and he received a severance package worth $10 million which he used to start his business empire.
Although a lifelong Democrat, Bloomberg switched parties in 2001 and ran for Mayor as a Republican. In 2008, after serving two terms, he pressured the City Council to change the rules so that he could run for a third term. They did … he won. Michael Bloomberg is an extremely generous philanthropist and has given over $300 million to Johns Hopkins University. He has also written his autobiography, "Bloomberg by Bloomberg."
During his time in office, Michael Bloomberg spent $268 million of his own money on re-election campaigns. He also spent $890,000 to provide free breakfast and lunch every day for his entire staff during his three terms. Outside of the mayoral office, Bloomberg donated $30 million to the New York Metropolitan Museum of Art to help fund audio tours in dozens of languages, another $30 million to assist impoverished and Latino black men and $7 million to promote gun control. As mayor he was entitled to $2.7 million in salary over three terms but instead opted to earn just $1 per year.