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
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 >
A person can make money from stocks by selling a stock that appreciates in value over time. Investors can also get paid through dividends, which are given to shareholders who have stock within a company.Full Answer >
Through its Bloomberg Terminal and Bloomberg Professional services, Bloomberg delivers real time data and analytics on 15,000 different market indexes from across the globe, according to the company. Bloomberg also tracks over 120 different indicators for 5,000 different publicly traded equity investments.Full Answer >
Bloomberg Business is a financial publication that covers worldwide stock market futures, explains the company’s website. Bloomberg does not operate a futures market in which investors can buy and sell contracts.Full Answer >