Michael Rubens Bloomberg (born February 14, 1942) is an American businessman and politician who is currently Mayor of New York City. With a net worth of $22 billion in 2012, he is also the 11th-richest person in the United States. He is the founder and 88% owner of Bloomberg L.P., a financial data-services firm.
Now in his 10th year as mayor, Bloomberg faces opposition to much of his remaining agenda, especially after his decision to run for a third term proved unpopular with many city residents. By August 2011, he received his lowest approval rating in six years, according to The Times.
Michael Bloomberg began a small start-up company called Bloomberg LP in 1981. Today, Bloomberg LP has over 250,000 subscribers to its financial news and information service. Headquartered in New York City, the company has 9,500 employees in more than 130 cities worldwide.
In his second term, while balancing the budget and driving unemployment to a record low, Mayor Bloomberg has taken on a number of new challenges. He launched an innovative program to combat poverty. He’s undertaken a far-reaching campaign to fight global warming. And as co-founder of a bipartisan coalition of more than 200 mayors from every region of the country, he is working to keep illegal guns out of the hands of criminals and off city streets.
Michael Bloomberg has quickly emerged as one the nation’s leading public health advocates, using his role as mayor not only to improve the health of New Yorkers, but also to show how determined municipal leadership can help create healthier communities.
New York was one of the first cities in the nation to help patrons make more informed decisions about their food choices by requiring fast-food and chain restaurants to label their menus with calorie information. The city also was among the first to impose strict limits on artificial trans fats, which have been linked to heart disease and unhealthy cholesterol levels.
New York City Mayor Michael Bloomberg's proposed ban on the sale of large-size sodas and other sugary beverages moved forward Tuesday after the city's Board of Health unanimously voted to open the plan to a three-month public comment process.
The new subscription service wired real-time financial data, research and news reports directly into dedicated terminals in business offices. As these "Bloomberg terminals" flourished, he expanded into television, radio, publishing and the Internet; Bloomberg News, launched in 1990, became a prominent financial news source. His successes made Bloomberg a billionaire and made his name synonymous with business information.
In 2001, Michael Bloomberg run for mayor of New York, spending record breaking amounts of his own money on the campaign. He was elected mayor, succeeding Rudy Giuliani.
During his first term as mayor, Bloomberg (seen above on victory night 2001) endured a lot of criticism and received little praise. Though he opened his wallet to support museums and the arts, he was attacked for raising taxes after promising not to during his campaign and proposing fare increases for public transportation.
Born on February 14, 1942, in Boston and raised in a middle class home in Medford, Massachusetts, Michael Bloomberg attended Johns Hopkins University. After college, he went on to receive an MBA from Harvard Business School.
Michael R. Bloomberg is the 108th Mayor of the City of New York. He was first elected in November 2001, two months after the terrorist attacks on 9/11.
Turning Things Around
In 2005, Bloomberg spent $70 million of his own money to run for re-election in what was the most expensive and financially one-sided mayoral elections in U.S. history. Despite the criticisms he had endured, he was elected for a second term and things began to turn around. Deetermined to show the people of the city that he could get things done, he turned a $6 billion city deficit into a surplus, worked for stronger gun-control laws, labored to make improvements in the educational system, and engaged in substantial philanthropic endeavors.