Bloomberg, Michael Rubens,
1942-, American businessman and politician, mayor of New York City (2002-), b. Boston, Mass. Bloomberg studied at Johns Hopkins (B.S., 1964) and Harvard Business School (M.B.A., 1966). Rising quickly in the world of finance, he became a partner at Salomon Brothers, but in 1981, after a merger, he was fired. Anticipating growing needs for business information, he used his $10 million severance to start a financial data and communications company, Bloomberg L.P. The company grew rapidly into a huge multifaceted enterprise that provides accurate real-time financial and business data as well as historical data and analysis and electronic communications and produces television and radio programs. Bloomberg himself became a multibillionaire. Long a Democrat, he ran in 2001 for New York mayor as a Republican, spending record-breaking amounts of his own money, and was elected to succeed Rudolph Giuliani
. He was reelected in 2005. In 2007 he quit the Republican party, becoming an independent, but after mayoral term limits were ended he won (2009) a third term as a Republican.
See his autobiography (1997); biography by J. Purnick (2009).
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