Michael Bloomberg is not a new name to us. He recently declined to run as a third-party candidate in the just concluded 2016 United States presidential election. Apart from being a politician, he is a philanthropist and a businessman whose net worth status of that of a billionaire. On numerous times he has been making appearances on the top 10 richest persons in the world list, and as of today, he is in the list of top 10 wealthiest person in the world and also the 7th richest in America.
Bloomberg net worth has been as a result of his company Bloomberg L.P which deals with software’s, global financial services and mass media among other businesses. With a billionaire status let’s get to find out the actual Michael Bloomberg net worth in 2020 and also highlight a few things or facts you probably don’t know about billionaire Michael Bloomberg.
Biography & Wiki
Michael Bloomberg is the son of William Henry Bloomberg and Charlotte Bloomberg. He was born in 1942 in Boston where he grew up in a Jewish family. Bloomberg went for his studies at Johns Hopkins University where he graduated with a degree in B.S in Electrical Engineering then furthered his education with a master of Business Administration from Harvard Business School.
Michael Bloomberg Personal Life: Affair, Girlfriend, Married, Wife, Children & Family
Bloomberg was a husband to Susan Elizabeth Barbara Brown before they divorced in 1993. Susan and Bloomberg had two daughters Georgina and Emma. He is also a licensed commercial pilot and resides in Bermuda.
Bloomberg started off by partnering with Solomon Brothers investment bank which was later sold to Phibro Corporation, and he got his $10 million. With the money, Bloomberg opened Innovative Market Systems and later after partnering with Merrill Lynch the company was renamed Bloomberg L.P in 1987. Today the company deals with products such as mass media, Bloomberg Terminal, Computer software, financial services, among other services. Bloomberg became the CEO of the company until 2015 where he left to pursue his political ambitions.
In 2001 Bloomberg became the mayor of New York under a Republican Ticket until 2005 when there was another election where he was re-elected a mayor. His third term bid really generated a lot of controversies since a mayor was just allowed two terms in office but the City Council voted 29-22 in favor of his extension. He ran for the third term regardless and won and in 2014 de Blasio became New York City Mayor replacing him.
In 2008 Michael Bloomberg was widely speculated that he would run for the highest office in the land that’s the president seat but he didn’t. Other seats where rumors have emerged that Bloomberg might be involved in are New York Governor, 2016 elections there were rumors that he was considering a presidential run under an independent umbrella although he didn’t. In 2016 elections Bloomberg endorsed Hillary Clinton as the Democrat candidate.
Awards & Achievements
On Awards and Achievements Received by Michael Bloomberg he has been awarded an honorary degree in Public service from Tufts University, awarded with the honorary degree of Doctor of Humane Letters, from Bard College and Fordham University. He has also won Gotham Awards, received Healthy Communities Leadership Award, and named one of the most influential people in the world today.
Michael Bloomberg Net Worth, Salary, & Earnings
As of 2020, Michael Bloomberg net worth stands at $45 billion. He is the seventh richest person in the U.S and also makes an appearance on the top 10 richest people in the world. The source of Michael Bloomberg net worth is his political career where he served as a mayor for New York for 12 years. Another source of Michael Bloomberg is his sales under his Umbrella company Bloomberg L.P which deals on software making, financial software tools, Bloomberg Terminal, Bloomberg News, Bloomberg Television, WBBR Radio station, digital websites, and magazines. Its reported that the company has annual revenue of more than $10 billion.
Wealth: In 2008, when Celebrity Net Worth first started tracking Michael Bloomberg’s net worth, we estimated his fortune at $12 billion. One year later we raised the estimate to $16 billion. In 2012, he was worth $22 billion. At that point he was the 11th richest-person in the US and the 20th richest-person on the planet. By 2015 his net worth topped $43 billion, enough to make him the 6th richest-person in the US.
As of this writing, Bloomberg’s $60+ billion net worth makes him the 17th richest-person in the world, the 10th richest-person the US.
The vast majority of his net worth is the presumed value of his privately-held company Bloomberg LP. The company, which generates an estimated $10 billion in revenue per year, would be worth a minimum of $40 billion on the open market if it ever came up for sale. More likely it is worth $60-70 billion, but there are potentially no companies or private equity firms in the world who would be willing or able to plunk down that much cash all at once for the firm. Bloomberg has stated that if he were ever to become President of the United States, he would sell the firm.
Real Estate: In May 2013 Michael released his final mayoral tax return/financial disclosure. In that disclosure we learned that Boomberg at the time owned 14 personal residences and spends at least $500,000 per year on household staff salaries.
Michael’s primary residence in NYC is a 5-story townhouse on East 79th Street which he bought in 1986 for $3.5 million, which is the same as spending around $8 million in today’s dollars. Over the next several decades Michael bought five of the six units in an adjacent townhouse next door, expanding his first residence horizontally to create a monster mega-property. His NYC home is a block from Central Park and a short walk to the Metropolitan Museum of Art. The combined mega-property is worth at least $50 million today.
He also owns an estate in Westchester County, NY, made up of several different property purchases. Located in North Salem, his first purchase occurred in 2001 when he bought a 20-acre equestrian estate. His daughter Georgina is famously a professional rider. In 2011 he expanded his North Salem foot print when he paid $4.55 million for a 33-acre estate located next to his equestrian estate. Roughly 30 minutes away he owns a home in Armonk, NY which he bought in 1993 for $375,000.
Rounding out his New York state property portfolio is a 35-acre estate in Southampton which he bought for $20 million in 2011. His oceanfront Southampton house has an 11-bedroom 22,000 square-foot mansion. His initial purchase bought 25-acres. He has since added at least 10-acres worth of nearby property.
Outside of New York, Michael owns a homes in London, Bermuda, Vail and Wellington, Florida. His Florida home is an $8.9 million mansion within a horse riding community which he bought for $8.9 million in 2006. In Vail, Colorado home is a four bedroom condo at a luxury building called Mountain Haus. A similar unit recently was listed for $4.35 million. He bought his London home in 2015 for $25 million.
While he was mayor, he would fly to Bermuda aboard his own private jet twice a month on average. After buying his Bermuda home, he demolished the former property and spent $10 million building a brand new mansion.
Philanthropy: Michael Bloomberg is an extremely generous philanthropist, with a special focus on the environment, gun control and education. He intends to give away the vast majority of his fortune before he dies. Some notable donations include over $3 billion to Johns Hopkins University across several donations. He gave Cornell University $100 million in 2015. He has donated around $8 billion of his fortune as of this writing.
In 2011 he gave $50 million to the Sierra Club. In June 2019 he committed $500 million to fight global warming through the Beyond Carbon initiative. He 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.
Through his Bloomberg Philanthropies Foundation, he has donated and/or pledged over a billion to various causes.
Personal Life: Michael was married to Susan Brown-Meyer from 1975 to 1993. They have two children together. One of their children, Georgina Bloomberg, is a socialite who owns an equestrian team.
Michael has been in a relationship with Diana Taylor since 2000.
6 Facts You Need To Know About Michael Bloomberg
The name of the former mayor of New York is probably not so new to us, and perhaps you have heard it in the news channel, on the list of the world richest or just on politics considering he was thought to run for the top seat of the president of United States, but he didn’t. Here are some interesting facts about Michael Bloomberg you probably don’t know.
1. He usually celebrates Valentine’s Day because that’s when he was born it’s his birthday.
2. When he was in college, he used to work as a parking lot attendant so that he could pay his rent.
3. When he was a mayor, his salary was $1 only a year.
4. As the mayor, New York became the first city in America to force restaurants to comply with implementing calorie counts on menus and ban trans fats.
5. He has been Knighted by Queen Elizabeth.
6. He owns ten residences some located in Colorado, Bermuda, London, Manhattan and other places.
Michael Bloomberg worth has always been a subject of discussion considering he is a billionaire and among the top 10 wealthiest people in the world. Let’s hold tight and see if he is interested in the presidency.