This article delves into the life of one of New York City’s most successful mayors. Learn more about Michael Bloomberg’s childhood, career journey, and personal life further on manhattanyes.com.
Early Years
Michael Rubens Bloomberg, New York City’s 108th mayor, is also a prominent American politician and businessman. Born on February 14, 1942, in Boston, Michael grew up in a middle-class Jewish family. His parents were Charlotte Bloomberg and William Henry Bloomberg, an accountant. Michael received his secondary education at Medford High School. He then pursued a degree in electrical engineering at Johns Hopkins University, where he joined the Phi Kappa Psi fraternity. Two years later, Michael also graduated from Harvard Business School.
Building His Career
Starting in 1966, Michael Rubens Bloomberg began his career at the multinational investment bank Salomon Brothers, Inc. on Wall Street in Manhattan. He later headed equity trading and software development at the same firm. However, in 1981, the international company Phibro acquired Salomon Brothers, Inc., and Bloomberg was laid off, receiving approximately ten million dollars for his equity.
After this turn of events, Michael decided to create his own computerized financial system for Salomon and a data services company named Innovative Market Systems. For a time, the company also sold computer terminals used for inputting data into computers or processing systems. In 1986, the company was renamed Bloomberg LP. Over the following years, products such as Bloomberg Tradebook, Bloomberg Radio, Bloomberg Message, and Bloomberg News were launched. Soon after, Michael Rubens Bloomberg stepped down as CEO of the company to pursue a political career.
Political Career
Michael Bloomberg took office as Mayor of New York City on January 1, 2002. The newly elected mayor initially focused on combating poverty and reforming public education. Overall, as mayor, Bloomberg achieved a great deal for the city. Notably, he significantly improved the city’s budget by raising property taxes, transforming a deficit into a surplus. He also secured funding for affordable housing development, successfully implemented a smoking ban in public places, banned trans fats in all city restaurants, created bike lanes, and pedestrianized a significant portion of Times Square. Additionally, in 2011, Bloomberg launched an initiative aimed at reducing disparities for Black and Latino residents, personally donating approximately thirty million dollars to this project. In 2010, the mayor also supported the then-controversial Islamic community center and mosque in Lower Manhattan and worked on expanding programs within the New York City Police Department.
Michael Rubens Bloomberg was re-elected twice: in 2005 and 2009. On December 31, 2013, Bloomberg left the mayoral office, and he was succeeded by the newly elected Bill de Blasio.
Later Activities
In 2016, Michael Rubens Bloomberg considered running for president but ultimately decided against it. That same year, he openly criticized then-candidate Donald Trump, warning that his presidency could pose a danger.
However, on November 24, 2019, he officially announced his candidacy for U.S. President. Bloomberg self-funded his campaign. His campaign was extensive, promoted through widespread advertising on television, radio, and the internet, as well as direct mail efforts. Despite these efforts, Michael’s campaign suffered a significant setback after a series of underwhelming debate performances. Michael Rubens Bloomberg suspended his campaign on March 4, 2020. In February 2022, Bloomberg was appointed chairman of the Defense Innovation Board.
Personal Life
In 1975, Michael Rubens Bloomberg married Susan Elizabeth Barbara Brown, a British citizen. They had two daughters during their marriage, Georgina and Emma. However, the couple divorced in 1993. According to Michael, they remained on good terms. Since 2000, the former mayor has been in a relationship with American businesswoman Diana Lancaster Taylor.