Michael Bloomberg, 88% owner of Bloomberg L.P and current Mayor of New York City, was born in 1942, February 14, at St. Elizabeth’s Hospital in the Brighton neighborhood of Boston to middle class parents.
He completed his Bachelor of Science degree in electrical engineering from Johns Hopkins University and received MBA degree from Harvard Business School. He started his life as a trader with Salomon Brothers on Wall Street and they became partner 1972. He leant how technological innovation plays an important role making a business successful. In 1981, he was fired with $10 million severance payout with which he opened a financial data and communications company called Innovative Market System. The company was renamed as Bloomberg LP in 1986. Today, Bloomberg L.P has more than 165,000 subscribers across the world and it gradually expanded and launched news service, Bloomberg Business T.V, Bloomberg business radio, Bloomberg Internet and various public operations. In 1997, Bloomberg published his autobiography named ‘Bloomberg by Bloomberg’. In 2001, he resigned from his position to become a Mayor of New York.
He has donated over $300 million to Johns Hopkins University, where he was chairman of the board since 2002.
In 2006, he donated to Centers for Disease Control and Prevention, World Lung Foundation and the World Health Organization, Johns Hopkins Bloomberg School for Public Health and to the Campaign for Tobacco-Free Kids. He has contributed $138 million in 2004, $144 million in 2005, $165 million in 2006, and $205 million in 2007 to ‘Chronicle of Philanthropy’ through Bloomberg Family Foundation. In 2008, he, along with Bill Gates, donated to the Government to get control over tobacco
In 2009, he has donated $254 million to 1400 non-profit organizations.
Awards and Recognition:
In 2003, Yale School of Management honored him with “Award for Distinguished Leadership in Global Capital Markets”
In 2007, he was called to be the 39th most influential person in the world by Time Magazine and Vanity Fair gave him 9th rank among 100 most influential person.
He was given an honorary degree in Public Service from Tufts University in 2007. In the same year he received an honorary degree of Doctor of Humane Letters from Bard College.
At 2007 Gotham Awards, a New York based celebrator of Independent Film, he received a tribute award.
The University of Pennsylvania gave him an honorary doctorate of laws in 2008. In the same year he received ‘Barnard Medal Distinction’ from Barnard College, Columbia University
In 2009 Leadership for Healthy Communities awarded him with Healthy Communities Leadership Award for his initiative in providing healthy foods in the city.
Fordham University awarded him with a Honorary Doctorate of Humane Letters in 2009.
According to Forbes Magazine 2010, Michael Bloomberg is the world’s 23th richest with net worth $18 billion fortune.
Written by: Mousumi Kumar Saha