What is Michael Bloomberg Net Worth?

Michael Bloomberg Net Worth

Michael Bloomberg is an American businessman, politician, philanthropist, and author. He is the founder, majority owner, and CEO of Bloomberg L.P., a financial information, software and media company. He served as the mayor of New York City for three terms from 2002 to 2013. He ran for the 2020 Democratic presidential nomination but dropped out in March 2020.

Michael Bloomberg Net Worth

Michael Bloomberg is one of the richest people in the world, with an estimated net worth of $96.3 billion USD as of October 2023, according to Forbes. He is the founder, majority owner and CEO of Bloomberg LP, a financial information, software and media company that is known for its Bloomberg Terminal. He also served as the mayor of New York City for three terms from 2002 to 2013 and ran for president in 2020 as a Democratic candidate.

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Real Estate Portfolio

Bloomberg also owns an impressive real estate portfolio, worth over $111 million according to Business Insider.

He has properties in New York, London, Florida, Colorado, and Bermuda. His primary residence in New York is a five-story townhouse on East 79th Street, which he bought in 1986 for $3.5 million.

He also owns several condos in the building next door, creating a “double-wide mansion”.

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Philanthropy

Michael Bloomberg is one of the world’s richest people and a prominent philanthropist. He has pledged to donate his stake in Bloomberg L.P., the company he founded and owns, to his charitable foundation, Bloomberg Philanthropies.

Bloomberg Philanthropies invests in various causes such as public health, education, arts, environment, and government innovation. In 2020, the year he ran for president, Bloomberg Philanthropies gave away about $500 million to nearly 200 organizations.

Some of the largest recipients were Johns Hopkins University, which received $74.5 million for its public health initiatives, and four historically Black colleges and universities, which received a total of $58.6 million. Over his lifetime, Bloomberg has given more than $14.4 billion to philanthropy.

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Early Life and Education

Michael Bloomberg was born on February 14, 1942, in Boston, Massachusetts, to a Jewish family. His father was a bookkeeper, and his mother was a secretary.

He grew up in Medford, Massachusetts, and attended Johns Hopkins University, where he earned a bachelor’s degree in electrical engineering in 1964.

He paid his tuition by working as a parking lot attendant and taking out loans. He then went to Harvard Business School and obtained an MBA in 1966. He started his career at Salomon Brothers, a securities brokerage firm, where he rose to become a partner and head of equity trading and systems development.

He left the firm in 1981 after it was acquired by Phibro Corporation and used his severance pay to start his own company, Innovative Market Systems, later renamed Bloomberg L.P.

The company developed the Bloomberg Terminal, a computer system that provides financial data and news to professionals in the industry.

Bloomberg L.P. grew to become a global leader in business and financial information, with more than 300,000 subscribers and 20,000 employees worldwide.

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Sister

Michael Bloomberg has a younger sister named Marjorie Tiven, who served as the Commissioner of the New York City Commission for the United Nations, Consular Corps, and Protocol.

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Wife

Bloomberg was married to Susan Brown-Meyer from 1975 to 1993, and they have two daughters, Emma and Georgina. They divorced amicably and remain friends.

Since 2000, Bloomberg has been in a domestic partnership with Diana Taylor, a former superintendent of banks in New York and a senior adviser at an investment firm. They met at a business luncheon and have been together ever since. They have never married, but Taylor has said that she considers herself Bloomberg’s partner and a friend to his children. She has also supported his political career and philanthropic endeavors.

Bloomberg and Taylor live in Manhattan, but also own several other properties around the world, including in London, Bermuda, Colorado, and the Hamptons.

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Children

Michael Bloomberg has two children from his first marriage to Susan Brown, which ended in divorce in 1993. His daughters are Emma and Georgina Bloomberg, who have both pursued careers in the non-profit and equestrian fields, respectively.

Emma Bloomberg is the founder and CEO of Murmuration, an organization that uses data and analytics to improve educational outcomes for children. She married Jeremiah Kittredge, a former charter school advocate, in 2019 after divorcing her first husband, Christopher Frissora, in 2018. She has a daughter named Zelda Violet Frissberg from her first marriage.

Georgina Bloomberg is a professional show jumper and animal rights activist who has written several novels for young readers. She has a son named Jasper Michael Brown Quintana with her former partner, Ramiro Quintana, an Argentine equestrian. Michael Bloomberg has been in a relationship with Diana Taylor, a former New York State Superintendent of Banks and Wall Street executive, since 2000.

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FAQs

What is Michael Bloomberg’s net worth?

Michael Bloomberg is one of the richest people in the world, with an estimated net worth of $96.3 billion USD as of October 2023, according to Forbes.

Will Michael Bloomberg donate his LP to Bloomberg Philanthropies if he dies?

According to Bloomberg’s will, which was made public in 2019, he plans to give away most of his fortune to Bloomberg Philanthropies and other organizations after his death. However, he has not specified whether he will donate his stake in Bloomberg LP, which is estimated to be around 88%.

How much money has Michael Bloomberg given away in 2022?

According to Bloomberg Philanthropies, Michael Bloomberg has donated $1.7 billion to various causes in 2022, such as arts, education, environment, government innovation, and public health. This is part of his lifetime commitment to give away most of his fortune, which amounts to $14.4 billion so far.

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