Michael Bloomberg got his start when he finished his education at Johns Hopkins and Harvard and became a partner at Salomon Brothers. He went on to start a company, Bloomberg L.P., which changed the financial information computer that controlled the way securities data was stored and consumed. Bloomberg L.P. became successful and developed into a media business with more than 100 offices. In 2002, Bloomberg became mayor of New York.Know More
According to Forbes, Bloomberg is worth $27 billion, as of March of 2013. The bulk of his fortune, $24 billion, comes from his 88 percent stake in Bloomberg L.P. The rest of his traceable fortune comes from his sale of a private equity firm called the Quadrangle Group. Since 2009 Bloomberg has waived his salary as mayor, and receives only $1.00 to be the mayor of New York City.
Since becoming a multi-billionaire, Bloomberg has devoted much of his time and money to Bloomberg Philanthropies. His philanthropies focus on education, medical research and the arts.
As of 2014, Michael Bloomberg was the 11th-richest person in the United States and the 16th-richest in the world. He owns 11 properties, including a waterside estate in Bermuda, three homes in Manhattan and a pied-a-terre in London.Learn more about Investing
The Motley Fool notes that in order to make money day trading it's beneficial to operate a brokerage that receives commissions for every sale or purchase that a day trader makes. It's also recommended that a day trader allow other traders to borrow from him on margin, which can bring in money through the interest payments.Full Answer >
An investor in the stock market typically makes money when a stock he owns increases in price and when a company whose stocks he is holding issues a dividend. When a stock price rises, the investor only makes money if he sells the stock; otherwise, he remains with unrealized gains. A stock price typically increases because other investors believe it has a higher value than its current price.Full Answer >
Small investors can make money on low oil prices in the long term by buying oil-market shares that are currently widely available at considerably decreased prices, and then holding them until the oil market recovers, according to James Burgess for Oilprice.com. This needs to be a long-term investment strategy for best results.Full Answer >
Michael Bloomberg is considered a liberal Republican. He is socially liberal because of his pro-choice views and support for the legalization of same-sex marriage. Bloomberg was a Democrat for much of his life and switched to the Republican party before his first mayoral campaign.Full Answer >