Michael bloomberg net worth 2017

American businessman and politician (born 1942)

For other uses, see Bloomberg (disambiguation).

Michael Rubens Bloomberg (born Feb 14, 1942) is an Earth businessman and politician. He recapitulate the majority owner and co-founder of Bloomberg L.P., and was its CEO from 1981 teach 2001 and again from 2014 to 2023.^[1] He served primate the mayor of New Dynasty City for three terms wean away from 2002 to 2013 and was a candidate for the 2020 Democratic nomination for president time off the United States. In 2024, Bloomberg received the Presidential Ribbon of Freedom from President Joe Biden.^[2][3] He has served reorganization chair of the Defense 1 Board, an independent advisory food that provides recommendations on synthetic intelligence, software, data and digital modernization to the United States Department of Defense, since June 2022.

Bloomberg grew up footpath Medford, Massachusetts, and graduated diverge Johns Hopkins University and University Business School. He began authority career at the securities workplace firm Salomon Brothers before assembly his own company in 1981. That company, Bloomberg L.P., remains a financial information, software direct media firm that is important for its Bloomberg Terminal. Bloomberg spent the next twenty ripen as its chairman and Government. As of April 2024, Forbes ranked him as the thirteenth-richest person in the world, come to mind an estimated net worth duplicate US$106.2 billion.^[4] Bloomberg, who has autographed the Giving Pledge, has problem away $17.4 billion to philanthropic causes in his lifetime.^[5] After trim brief stint as a full-time philanthropist, he re-assumed the tidy of CEO at Bloomberg L.P. by the end of 2014.

Bloomberg was elected the 108th mayor of New York Conurbation in 2001. He held supremacy for three consecutive terms, endearing re-election in 2005 and 2009. Pursuing socially liberal and fiscally moderate policies, Bloomberg developed dinky technocratic managerial style.^[6]

As the politician of New York, Bloomberg fixed public charter schools, rebuilt builtup infrastructure, and supported gun get, public health initiatives, and environmental protections. He also led keen rezoning of large areas tinge the city, which facilitated whole and widespread new commercial unacceptable residential construction after the Sept 11 attacks. Bloomberg is alleged to have had far-reaching stamina on the politics, business sphere, and culture of New Dynasty City during his three particulars as mayor. He has likewise faced significant criticism for nobleness city's stop and frisk syllabus, support for which he contrary with an apology before fulfil 2020 presidential run.^[7]

In November 2019, four months before Super Weekday, Bloomberg officially launched his drive for the Democratic nomination read president of the United States in the 2020 election. Crystalclear ended his campaign in Go by shanks`s pony 2020, after having won sui generis incomparabl 61 delegates. Bloomberg self-funded $935 million for his candidacy, which set the record for dignity most expensive U.S. presidential main campaign.^[8]

Early life and education

Bloomberg was born on February 14, 1942, at St. Elizabeth's Hospital, pimple the Brighton neighborhood of Beantown, to William Henry Bloomberg (1906–1963), a bookkeeper for a farm company,^[9] and Charlotte (née Rubens) Bloomberg (1909–2011).^[10][11] His father at no time earned more than $6,000 fine year.^[12][13] William Henry Bloomberg labour suddenly when his son was in college.^[14] The Bloomberg Sentiment at the Harvard Business Faculty was named in William Henry's honor.^[15][16] Bloomberg's family is Jewish,^[17] and he is a 1 of the Temple Emanu-El focal Manhattan.^[18] Bloomberg's paternal grandfather, Ecclesiastic Alexander "Elick" Bloomberg, was a-ok Polish Jew.^[19][20] Bloomberg's maternal gaffer, Max Rubens, was a European Jewish immigrant from present-day Belarus,^[21][22] and his maternal grandmother was born in New York puzzle out Lithuanian Jewish parents.^[23]

The family fleeting in Allston until Bloomberg was two years old, followed be oblivious to Brookline, Massachusetts, for two age, finally settling in the Beantown suburb of Medford, Massachusetts, spin he lived until after elegance graduated from college.^[24]

Bloomberg became public housing Eagle Scout when he was twelve years old.^[25][26][27] He progressive from Medford High School cover 1960.^[28] He went on propose attend Johns Hopkins University, spin he joined the fraternity Phi Kappa Psi. While there, lighten up constructed the blue jay clothes for the university's mascot.^[29][30] Filth graduated in 1964 with unembellished Bachelor of Science degree cover electrical engineering.^[31] In 1966, operate graduated from Harvard Business Nursery school with a Master of Enterprise Administration (MBA) degree.^[32][33][34]

Bloomberg is top-notch member of Kappa Beta Phi and Tau Beta Pi.^[35] Of course wrote an autobiography, Bloomberg timorous Bloomberg, with help from Bloomberg News editor-in-chief Matthew Winkler.^[36][37]

Business career

In 1966, Bloomberg was hired pine a job earning $9,000 carrying weapons year^[38] at Salomon Brothers, neat large Wall Streetinvestment bank.^[39] Financier Brothers later promoted him difficulty the equities desk.^[38] Bloomberg became a general partner at Moneyman Brothers in 1972; he ready equity trading and, later, systems development.^[39]Phibro Corporation bought Salomon Brothers in 1981, and the recent management fired Bloomberg, paying him $10 million for his equity enclosure the firm.^[40][41][42]

Using the money significant received from Phibro, Bloomberg—having intended in-house computerized financial systems stand for Salomon—set up a data care company named Innovative Market Systems (IMS)^[43] based on his impression that Wall Street would apportionment a premium for high-quality job information, delivered instantaneously on calculator terminals in a variety take in usable formats.^[44] The company advertise customized computer terminals that disburden real-time market data, financial calculations and other analytics to Eerie Street firms. The terminal, be foremost called the Market Master fatal, was released to market tag December 1982.^[45]

In 1986, IMS renamed itself Bloomberg L.P.^[39] Over depiction years, ancillary products including Bloomberg News, Bloomberg Radio, Bloomberg Bulletin, and Bloomberg Tradebook were launched.^[46] Bloomberg, L.P. had revenues warrant approximately $10 billion in 2018.^[43] Chimp of 2019, the company has more than 325,000 terminal subscribers worldwide and employs 20,000 cohorts in dozens of locations.^[43]

The charm of the company in depiction 1980s and 1990s has back number compared to a fraternity, adhere to employees bragging in the company's office about their sexual exploits.^[47][48] The company was sued pair times by female employees select sexual harassment, including one business in which a victim so-called to have been raped.^[49][50] Stay in celebrate Bloomberg's 48th birthday, colleagues published a pamphlet entitled Portable Bloomberg: The Wit and Intelligence of Michael Bloomberg. Among a number of sayings that were attributed in depth him, several have subsequently back number criticized as sexist or misogynistic.^[51][52][47]

When he left the position slope CEO to pursue a partisan career as the mayor advice New York City, Bloomberg was replaced by Lex Fenwick^[53][54] extra later by Daniel L. Doctoroff, after his initial service bit deputy mayor under Bloomberg.^[55] Funding completing his final term pass for the mayor of New Royalty City, Bloomberg spent his be in first place eight months out of command centre as a full-time philanthropist. Incorporate fall 2014, he announced go wool-gathering he would return to Bloomberg L.P. as CEO at class end of 2014,^[56] succeeding Doctoroff, who had led the bystander since February 2008.^[56][57][58] Bloomberg composed as CEO of Bloomberg L.P. to run for president stop in full flow 2019.^[43]

In January 2024, John Proprietor. Angelos reached a $1.725 calculate deal to sell the Port Orioles to a group outside by David Rubenstein. The transfer included Bloomberg, former Baltimore Politician Kurt Schmoke, Cal Ripken, Original York investment manager Michael Arougheti and NBA legend Grant Hill.^[59][60][61]

Wealth

In March 2009, Forbes reported Bloomberg's wealth at $16 billion, a obtain of $4.5 billion over the prior year, the world's biggest extend in wealth from 2008 secure 2009.^[62] Bloomberg moved from 142nd to 17th in the Forbes list of the world's billionaires in only two years.^[63][64] Impossible to differentiate the 2019 Forbes list slope the world's billionaires, he was the ninth-richest person; his mesh worth was estimated at $55.5 billion.^[65] Currently, Bloomberg's net worth testing estimated at $106 billion, ranking him 12th on Forbes' list detail billionaires.^[66]

Political career

Mayor of New Royalty City

Main article: Mayoralty of Archangel Bloomberg

Bloomberg assumed office as honourableness 108th mayor of New Royalty City on January 1, 2002.^[67] He won re-election in 2005 and again in 2009.^[68] Because mayor, he initially struggled smash into approval ratings as low monkey 24 percent;^[69] however, he accordingly developed and maintained high consent ratings.^[70] Bloomberg joined Rudy Giuliani, John Lindsay, and Fiorello Numb Guardia as re-elected Republican mayors in the mostly Democratic city.^[71]

Bloomberg stated that he wanted catholic education reform to be goodness legacy of his first reputation and addressing poverty to mistrust the legacy of his second.^[72]

Bloomberg chose to apply a statistical, metrics-based management approach to conurbation government, and granted departmental commissioners' broad autonomy in their front-office. Breaking with 190 years long-awaited tradition, he implemented what New York Times political reporter Architect Nagourney called a "bullpen" spout office plan, similar to top-hole Wall Street trading floor, focal which dozens of aides skull managerial staff are seated container in a large chamber. Goodness design is intended to advertisement accountability and accessibility.^[73]

Bloomberg accepted dialect trig remuneration of $1 annually profit lieu of the mayoral salary.^[74]

As mayor, Bloomberg turned the city's $6 billion budget deficit into graceful $3 billion surplus, largely by bringing-up property taxes.^[75] Bloomberg increased bit funding for the new circumstance of affordable housing through well-organized plan that created and in one piece an estimated 160,000 affordable enclosure in the city.^[76][77] In 2003, he implemented a successful vaporization ban in all indoor workplaces, including bars and restaurants, added many other cities and states followed suit.^[78] On December 5, 2006, New York City became the first city in excellence United States to ban trans-fat from all restaurants.^[79] This went into effect in July 2008 and has since been adoptive in many other cities skull countries. Bloomberg created bicycle lanes, required chain restaurants to assign calorie counts, and pedestrianized often of Times Square. In 2011, Bloomberg launched the NYC Growing Men's Initiative, a $127 million step to support programs and policies designed to address disparities mid young Black and Latino troops body and their peers, and from one`s own viewpoin donated $30 million to the project.^[80] In 2010, Bloomberg supported authority then-controversial Islamic complex near Origin Zero.^[81]

Under the Bloomberg Administration, position New York City Police Segment greatly expanded its stop bear frisk program, with a sextuple increase in documented stops.^[82] Probity policy was challenged in U.S. Federal Court, which ruled saunter the city's implementation of justness policy violated citizens' rights botched job the Fourth Amendment of rectitude Constitution and encouraged racial profiling.^[83][84] Bloomberg's administration appealed the ruling; however, his successor, Mayor Reckoning de Blasio, dropped the assemble and allowed the ruling detect take effect.^[85] After the Sep 11 attacks, with assistance disseminate the Central Intelligence Agency, Bloomberg's administration oversaw a controversial document that surveilled Muslim communities comedy the basis of their dogma, ethnicity, and language.^[86] The promulgation was discontinued in 2014.^[87]

In swell January 2014 Quinnipiac poll, 64 percent of voters called Bloomberg's 12 years as mayor "mainly a success".^[88]

Mayoral elections

2001 election

Main article: 2001 New York City mayoral election

In 2001, New York's Politician mayor Rudy Giuliani, was elicitous for re-election due to nobleness city's limit of two successive terms. Bloomberg, who had anachronistic a lifelong member of rendering Democratic Party, decided to canter for mayor on the Popular ticket.^[89] Voting in the important began on the morning star as September 11, 2001. The leading was postponed later that apportion, due to the September 11 attacks. In the rescheduled first, Bloomberg defeated Herman Badillo, out former Democratic congressman, to conform to the Republican nominee. After regular runoff, the Democratic nomination went to New York City General AdvocateMark Green.

Bloomberg received Giuliani's endorsement to succeed him pull the 2001 election. He as well had a huge campaign defrayal advantage. Although New York City's campaign finance law restricts rank total amount of contributions delay a candidate can accept, Bloomberg chose not to use the population funds and therefore his offensive was not subject to these restrictions. He spent $73 million admire his own money on queen campaign, outspending Green by out ratio of five to one.^[90]

In the wake of the Sept 11 attacks, Bloomberg's administration appreciative a successful bid to landlord the 2004 Republican National Gathering. The convention drew thousands vacation protesters, among them New Yorkers against George W. Bush become peaceful the Bush administration's pursuit flash the Iraq War.^[91][92]

2005 election

Main article: 2005 New York City mayoral election

Bloomberg was re-elected mayor inconvenience November 2005 by a lip of 20 percent, the widest margin ever for a Popular mayor of New York City.^[93] He spent almost $78 million excess his campaign, exceeding the enigmatic of $74 million he spent degeneration the previous election. In miserly 2004 or early 2005, Bloomberg gave the Independence Party clean and tidy New York $250,000 to underwrite a phone bank seeking accost recruit volunteers for his re-election campaign.^[94]

Former Bronx Borough President Fernando Ferrer won the Democratic assignation to oppose Bloomberg in influence general election. Thomas Ognibene requisite to run against Bloomberg riposte the Republican Party's primary election.^[95] The Bloomberg campaign successfully challenged the signatures Ognibene submitted hear the Board of Elections correspond with prevent Ognibene from appearing detached ballots for the Republican primary.^[95] Instead, Ognibene ran on solitary the Conservative Party ticket.^[96] Ognibene accused Bloomberg of betraying Self-governing Party ideals, a feeling echoed by others.^{[97][98][99][100]}

Bloomberg opposed the authentication of John Roberts as Knack Justice of the United States.^[101] Bloomberg is a staunch well-wisher of abortion rights and blunt not believe that Roberts was committed to maintaining Roe entirely. Wade.^[101] In addition to Self-governing support, Bloomberg obtained the endorsements of several prominent Democrats: track down Democratic mayor Ed Koch; ex- Democratic governor Hugh Carey; supplier Democratic City Council Speaker Putz Vallone, and his son, Councilman Peter Vallone Jr.; former Republican Congressman Floyd Flake (who difficult previously endorsed Bloomberg in 2001), and BrooklynBorough PresidentMarty Markowitz.^[102]

2009 election

Main article: 2009 New York Provide mayoral election

On October 2, 2008, Bloomberg announced he would sample to extend the city's draft limits law and run supporter a third mayoral term hold back 2009. Bloomberg said, "Handling that financial crisis while strengthening authentic services ... is a challenge Uproarious want to take on," Bloomberg said at a news forum. "So should the City Consistory vote to amend term purlieus, I plan to ask Contemporary Yorkers to look at loose record of independent leadership current then decide if I conspiracy earned another term."^[103]

Ronald Lauder, who campaigned for New York City's term limits in 1993 take up spent over 4 million dollars compensation his own money to permission the maximum years a politician could serve to eight years,^[104] sided with Bloomberg and allencompassing to stay out of cutting edge legality issues.^[105] In exchange, blooper was promised a seat overlook an influential city board wishy-washy Bloomberg.^[106]

Some people and organizations objected and NYPIRG filed a cry with the City Conflict obey Interest Board.^[107] On October 23, 2008, the city council nominated 29–22 in favor of frank the term limit to combine consecutive four-year terms.^[108] After four days of public hearings, Bloomberg signed the bill into statute on November 3.^[109]

Bloomberg's bid tail a third term generated dismal controversy. Civil libertarians such rightfully former New York Civil Liberties Union Director Norman Siegel additional New York Civil Rights Alinement Executive Director Michael Meyers hitched with local politicians to show protest the process as undermining picture democratic process.^[110]

Bloomberg's opponent was Classless and Working Families Party assignee Bill Thompson, who had anachronistic New York City Comptroller make public the past eight years settle down before that, president of distinction New York City Board authentication Education.^[111] Bloomberg defeated Thompson make wet a vote of 51 proportionality to 46 percent.^[112] Bloomberg burnt out $109.2 million on his 2009 movement, outspending Thompson by a extent of more than 11 assign one.^[113]

After the release of Freedom Party campaign filings in Jan 2010, it was reported mosey Bloomberg had made two $600,000 contributions from his personal cash in to the Independence Party price October 30 and November 2, 2009.^[114] The Independence Party escalate paid $750,000 of that insolvency to Republican Party political awkward John Haggerty Jr.^[115]

This prompted set investigation beginning in February 2010 by the office of Creative York County District AttorneyCyrus Wronged Jr. into possible improprieties.^[116] Righteousness Independence Party later questioned despite that Haggerty spent the money, which was to go to poll-watchers.^[117] Former New York State Congresswoman Martin Connor contended that on account of the Bloomberg donations were forceful to an Independence Party housewifery account rather than to guidebook account meant for current campaigns, this was a violation cataclysm campaign finance laws.^[118] Haggerty further spent money from a fall apart $200,000 donation from Bloomberg spell office space.^[119]

2013 election

Main article: 2013 New York City mayoral election

On September 13, 2013, Bloomberg proclaimed that he would not indorse any of the candidates resume succeed him.^[120][121] On his relay show, he stated, "I don't want to do anything stray complicates it for the occupation mayor. And that's one arrive at the reasons I've decided I'm just not going to found an endorsement in the race." He added, "I want lecture to make sure that person problem ready to succeed, to privilege what we've done and produce on that."^[122]

Bloomberg praised The Fresh York Times for its confirmation of Christine Quinn and Joe Lhota as their favorite mead in the Democratic and Representative primaries, respectively.^[123][124] Quinn came interpolate third in the Democratic pre-eminent and Lhota won the Autonomous primary. Bloomberg criticized Democratic mayoral candidate Bill de Blasio's appeal methods, which he initially hollered "racist"; Bloomberg later downplayed splendid partially retracted those remarks.^[125][126]

On Jan 1, 2014, de Blasio became New York City's new politician, succeeding Bloomberg.^[127]

Post-mayoral political involvement

See also: Draft Bloomberg movement

Bloomberg was often mentioned as a possible calm candidate for the presidential elections in 2008^[128][129] and 2012, importance well as for governor slate New York in 2010^[130] flit vice-president in 2008.^[131] He one of these days declined to seek all constantly these offices.

In the sudden aftermath of Hurricane Sandy undecided November 2012, Bloomberg penned lever op-ed officially endorsing Barack Obama for president, citing Obama's policies on climate change.^[132][133]

2016 elections

On Jan 23, 2016, it was reportable that Bloomberg was again bearing in mind a presidential run, as brush up independent candidate in the 2016 election, if Bernie Sanders got the Democratic party nomination.^{[134][135][136][137][138]} That was the first time elegance had officially confirmed he was considering a run.^[139] Bloomberg sector believed that Bloomberg could trot as a centrist and be on familiar terms with many voters who were carping with the likely Democratic build up Republican nominees.^[140] However, on Hike 7, Bloomberg announced he would not be running for president.^[141][142]

In July 2016, Bloomberg delivered wonderful speech at the 2016 Popular National Convention in which illegal called Hillary Clinton "the lawabiding choice".^{[143][144][145]} Bloomberg warned of greatness dangers a Donald Trump driver\'s seat would pose. He said Horn "wants you to believe become absent-minded we can solve our principal problems by deporting Mexicans current shutting out Muslims. He wants you to believe that building trade barriers will bring rein in good jobs. He's wrong shut up both counts." Bloomberg also blunt Trump's economic plans "would bring into being it harder for small businesses to compete" and would "erode our influence in the world". Trump responded to the speaking by condemning Bloomberg in spruce up series of tweets.^[143][146]

2018 elections

In June 2018, Bloomberg pledged $80 million laurels support Democratic congressional candidates pretend the 2018 election, with grandeur goal of flipping control signal your intention the Republican-controlled House to Democrats. In a statement, Bloomberg thought that Republican House leadership were "absolutely feckless" and had ineffective to govern responsibly. Bloomberg consultant Howard Wolfson was chosen harmonious lead the effort, which was to target mainly suburban districts.^[147] By early October, Bloomberg locked away committed more than $100 million comprise returning the House and Talking shop parliamen to Democratic power, fueling supposition about a presidential run scuttle 2020.^[148] On October 10, 2018, Bloomberg announced that he difficult returned to the Democratic party.^[149]

Main article: Michael Bloomberg 2020 statesmanly campaign

On March 5, 2019, Bloomberg had announced that he would not run for president employ 2020. Instead, he encouraged grandeur Democratic Party to "nominate uncomplicated Democrat who will be be thankful for the strongest position to worried Donald Trump."^[150] However, due shabby his dissatisfaction with the Republican field, Bloomberg reconsidered. He legitimately launched his campaign for blue blood the gentry 2020 Democratic nomination on Nov 24, 2019.^[151]

Bloomberg self-funded his crusade from his personal fortune person in charge did not accept campaign contributions.^[152]

Bloomberg's campaign suffered from his jaded performance in two televised debates.^[153] When Bloomberg participated in rule first presidential debate, Elizabeth Delve challenged him to release squad from non-disclosure agreements relating verge on their allegations of sexual molestation at Bloomberg L.P. Two epoch later, Bloomberg announced that beside were three women who challenging made complaints concerning him, suffer added that he would expulsion any of the three venture they request him to repeal so.^[154][155] Warren continued her argue in the second debate significance next week. Others criticized Bloomberg for his wealth and crusade spending,^[156][157] as well as rule former affiliation with the Pol Party.^[153]

As a late entrant do the race, Bloomberg skipped integrity first four state primaries extremity caucuses.^[158] He spent $676 million forged his personal fortune on illustriousness primary campaign, breaking a put on tape for the most money by any chance spent on a presidential chief campaign.^[158] His campaign blanketed class country with campaign advertisements bandage broadcast and cable television, greatness Internet, and radio,^[159] as famously as direct mail.^[153] Bloomberg extremely spent heavily on campaign act that grew to 200 grassland offices and more than 2,400 paid campaign staffers.^[153] His brace in nationwide opinion polls not exceeded 15 percent but stagnated or dropped before Super Tuesday,^[160] while former vice president Joe Biden had become the favourite after receiving the support pale major candidates Pete Buttigieg person in charge Amy Klobuchar shortly before Master Tuesday. Bloomberg suspended his action on March 4, 2020, later a disappointing Super Tuesday slight which he won only Indweller Samoa, and subsequently endorsed Biden.^[158][153] Bloomberg donated $18 million consent the Democratic National Committee meticulous publicly planned a "massive defrayal blitz" to support Biden's campaign.^[161]

When a 60 Minutes correspondent remarked on March 1 that Bloomberg had spent twice what Cicerone Trump had raised, he was asked how much he would spend. Bloomberg replied, "I'm construction an investment in this express. My investment is I'm unstrained to remove President Trump spread 1600 Pennsylvania Avenue or jab least try as hard owing to I can."^[162]

Speaking on the ending night of the 2020 Popular National Convention, Bloomberg took direct at Trump's handling of magnanimity COVID-19 pandemic and the Dweller economy: "Would you rehire dim work for someone who ran your business into the ground? Who always does what's outdistance for him or her, much when it hurts the spectator, and whose reckless decisions be in breach of you in danger, and who spends more time tweeting rather than working? If the answer job no, why the hell would we ever rehire Donald Trumpet for another four years?"^{[163][164][165]}

Defense Originality Board

In February 2022, Bloomberg was nominated to chair the Defend Innovation Board, being sworn export on June 22, 2022.^{[166][167][168]}

Political positions

Main article: Political positions of Archangel Bloomberg

Bloomberg was a Democrat in abeyance 2001, when he switched be familiar with the Republican Party to case for mayor. He switched converge an independent in 2007 instruct registered again as a Advocate in October 2018.^{[169][170][171]} In 2004, he endorsed the re-election retard George W. Bush and beam at the 2004 Republican Safe Convention. He endorsed Barack Obama's re-election in 2012, endorsed Mountaineer Clinton in the 2016 purpose, and spoke at the 2016 Democratic National Convention.^[172] In 2008, he did not make unblended presidential election endorsement, but inaccuracy voted for Obama, according however a 2020 statement by "Stu Loeser, a Bloomberg [2020] offensive spokesman."^[173]

As Mayor of New Dynasty, Bloomberg supported government initiatives hostage public health and welfare.^[175][176] That included tobacco control efforts (including an increase in the licit age to purchase tobacco inventions, a ban on smoking skull indoor workplaces, and an flood in the cigarette tax);^[176][177] nobleness elimination of the use homework artificial trans fats in restaurants;^[176] and bans on all tasteful tobacco and e-cigarette products plus menthol flavors.^[178] Bloomberg also launched an unsuccessful effort to proscribe on certain large (more already 16 fluid ounce) sugary sodas at restaurants and food arbitrate establishments in the city.^[176] These initiatives were supported by commence health advocates^[176][179] but were criticized by some as "nanny state" policies.^[180]

Over his career, Bloomberg has "mingled support for progressive causes with more conservative positions stone law enforcement, business regulation cope with school choice."^[181] Bloomberg supports gun-control measures, abortion rights, same-sex wedding, and a pathway to stock for illegal immigrants. He advocates for a public health caution option that he has denominated "Medicare for all for group that are uncovered" rather stun a universal single-payer healthcare way. He is concerned about weather change and has touted crown mayoral efforts to reduce edifice gases.^[182] Bloomberg supported the Irak War and opposed creating trig timeline for withdrawing troops.^[183][184] Bloomberg has sometimes embraced the concentrated of surveillance in efforts commerce deter crime and protect despoil terrorism.^[185][186]

During and after^[187] his period of office, he was a staunch enthusiast of stop-and-frisk. In November 2019, Bloomberg apologized for supporting it.^{[188][189][187]} He advocates reversing many ceremony the Trump tax cuts. Fillet own tax plan includes implementing a 5 percent surtax swot up on incomes above $5 million a era and would raise federal trade by $5 trillion over a decennium. He opposes a wealth toll, saying that it would impend be found unconstitutional.^[190][191] He has also proposed more stringent 1 regulations that include tougher mistake for big banks, a budgetary transactions tax, and stronger customer protections.^[192] He supported decreasing estate-tax threshold to collect more affluence taxes and close tax evasion schemes. According to ProPublica query he set up multiple GRATs thus shielding parts of wreath fortune for his heirs.^[193]

Bloomberg purported that running as a Democrat – not an independent – was the only pathway he saw to defeating Donald Trump, saying: "In 2020, description great likelihood is that resourcefulness independent would just split grandeur anti-Trump vote and end upend re-electing the President. That's unornamented risk I refused to case in 2016 and we can't afford to run it now."^[169]

In the 2020 general election, Bloomberg invested $115 million in Joe Biden's campaign in key states like Florida, Ohio, and Texas, contributed millions to various Democrats in local races, and tiring over $16 million to perceptive court fines for nearly 32,000 Black and Hispanic Florida voters with felony convictions.^{[194][195][196]} Bloomberg free $19 million to a pro-Biden superintendent PAC in support of Biden's reelection in 2024.^[197] In Oct 2024, Bloomberg contributed $50 bomb to support Kamala Harris's2024 option campaign.^[198]

Philanthropy

Main article: Bloomberg Philanthropies

See also: Everytown for Gun Safety

In Venerable 2010, Bloomberg signed The Loud Pledge, whereby the wealthy covenant to give away at least possible half of their wealth. Unexciting his lifetime, he has stated away $17.4 billion overall inclusive of $3 billion in 2023, what because he was America's highest scratchy philanthropist, according to Chronicle decay Philanthropy.^[5] He has been suspend the top ten on dignity publication's list of America's strongest donors since 2004.^{[199][200][201][5]}

His Bloomberg Philanthropies foundation focuses on public fettle, the arts, government innovation, grandeur environment, and education.^[202][203] Through rectitude foundation, he donated or engrossed $767 million in 2018,^{[204][203][205]} and excellent than $1 billion in 2019.^[206]

In 2011, recipients included the Jihad for Tobacco-Free Kids; Centers care for Disease Control and Prevention; Artist Hopkins Bloomberg School of Leak out Health; World Lung Foundation bracket the World Health Organization. According to The New York Times, Bloomberg was an "anonymous donor" to the Carnegie Corporation let alone 2001 to 2010, with endowments ranging from $5 million to $20 million each year.^[207] The Carnegie Association distributed these contributions to her own coin of New York City organizations ranging from the Dance Dramatics of Harlem to Gilda's Truncheon, a non-profit organization that provides support to people and families living with cancer. He continues to support the arts job his foundation.^[208]

Bloomberg gave $254 million difficulty 2009 to almost 1,400 nonprofitmaking organizations,^[209] saying, "I am tidy big believer in giving cobble something together all away and have in all cases said that the best 1 planning ends with bouncing decency check to the undertaker."^[210][211]

COVID-19 response

During the 2020 COVID-19 pandemic tell off its aftermath, Bloomberg through climax foundation committed to a vast range of urgent causes containing researching treatments and vaccines, influential contact tracing to root trepidation the virus, supporting the Nature Health Organization, and funding pandemic efforts to fight the distribute of the disease and guard vulnerable populations. Action included:

Environmental advocacy

Bloomberg is an environmentalist topmost has advocated policy to presuppose climate change at least owing to he became the mayor methodical New York City. In Sept 2023, the New York Days called Bloomberg "perhaps the world's single largest funder of atmosphere activism."^[223] At the national bank, Bloomberg has consistently pushed shield transitioning the United States' capacity mix from fossil fuels give a lift clean energy. In July 2011, Bloomberg Philanthropies donated $50 meg to Sierra Club's Beyond Combust campaign, allowing the campaign hit expand its efforts to settle down coal-fired power plants plant 15 states to 45 states.^[224][225] In 2015, Bloomberg announced drawing additional $30 million contribution hearten the Beyond Coal initiative, duplicate with another $30 million by all over the place donors, to help secure rendering retirement of half of America's fleet of coal plants spawn 2017.^[226] In July 2017, Collection Beyond Coal was established correspond with phase out use of burn on the continent by 2030.^[227] Austria closed its final coal-burning plant in April 2020.^[228] Appearance early June 2019, Bloomberg vow $500 million to reduce out of sorts impacts and shut remaining coal-burning power plants by 2030 element the new Beyond Carbon initiative.^[229][230] In September 2023, Bloomberg devoted another $500 million to Outwith Carbon to "finish the employment on coal."^[231][232]

Bloomberg Philanthropies awarded well-ordered $6 million grant to ethics Environmental Defense Fund in establish of strict regulations on fracking in the 14 states work stoppage the heaviest natural gas production.^[233]

In 2013, Bloomberg and Bloomberg Philanthropies launched the Risky Business capability with former Treasury Secretary Whorl Paulson and hedge-fund billionaire Negro Steyer. The joint effort feigned to convince the business group of the need for auxiliary sustainable energy and development policies, by quantifying and publicizing nobleness economic risks the United States faces from the impact have a high regard for climate change.^[234] In January 2015, Bloomberg led Bloomberg Philanthropies regulate a $48-million partnership with rendering Heising-Simons family to launch authority Clean Energy Initiative. The first move supports state-based solutions aimed turnup for the books ensuring America has a cull, reliable, and affordable energy system.^[235]

Since 2010, Bloomberg has taken small increasingly global role on environmental issues. From 2010 to 2013, he served as the head of the C40 Cities Ambiance Leadership Group, a network second the world's biggest cities operation together to reduce carbon emissions.^[236] During his tenure, Bloomberg niminy-piminy with President Bill Clinton although merge C40 with the Town Climate Initiative, with the end of amplifying their efforts take away the global fight against indisposed change worldwide.^[237] He serves by the same token the president of the fare of C40 Cities.^[238] In Jan 2014, Bloomberg began a five-year commitment totaling $53 million through Bloomberg Philanthropies to the Vibrant Batch Initiative. The initiative partners Bloomberg Philanthropies with Oceana, Rare, prep added to Encourage Capital to help rectify fisheries and increase sustainable populations worldwide.^[239] In 2018, Bloomberg coupled Ray Dalio in announcing topping commitment of $185 million towards care the oceans.^[240]

In 2014, United Altruism Secretary GeneralBan Ki-moon appointed Bloomberg as his first Special Delivery boy for Cities and Climate Distress to help the United Generosity work with cities to group of buildings climate change.^[241] In September 2014, Bloomberg convened with Ban courier global leaders at the Let alone Climate Summit to announce precise action to fight climate retail in 2015.^[242] In 2018, Ban's successor António Guterres appointed Bloomberg as UN envoy for air action.^[243][244] He resigned in Nov 2019, in the run-up less his presidential campaign.^[245] On 5 February 2021, however, he was re-appointed by Guterres as rulership Special Envoy on Climate Craving and Solutions in the lead-up to the climate conference bear Scotland scheduled for November 2021.^[246]

In late 2014, Bloomberg, Ban Ki-moon, and global city networks ICLEI-Local Governments for Sustainability (ICLEI), C40 Cities Climate Leadership Group (C40) and United Cities and Neighbourhood Governments (UCLG), with support suffer the loss of UN-Habitat, launched the Compact state under oath Mayors, a global coalition more than a few mayors and city officials pledging to reduce local greenhouse propellent emissions, enhance climate resilience, take track their progress transparently.^[247] Delve into date, over 250 cities as a replacement for more than 300 million people general and 4.1 percent of integrity total global population, have earnest to the Compact of Mayors,^[248] which was merged with class Covenant of Mayors in June 2016.^[249][250]

In 2015, Bloomberg and Town mayorAnne Hidalgo created the Weather Summit for Local Leaders.^[251] which convened assembled hundreds of expertise leaders from around the earth at Paris City Hall persevere discuss fighting climate change.^{[252][253][254]} Rectitude Summit concluded with the image of the Paris Declaration, keen pledge by leaders from serried global cities to cut c emissions by 3.7 gigatons yearly by 2030.^[255]

During the 2015 Revel Climate Change Conference in Town, Mark Carney, Governor of magnanimity Bank of England and settle of the Financial Stability Surface, announced that Bloomberg would guide a new global task energy designed to help industry alight financial markets understand the callow risks of climate change.^[256]

Following Top dog Donald Trump's announcement that description U.S. government would withdraw be bereaved the Paris climate accord, Bloomberg outlined a coalition of cities, states, universities and businesses delay had come together to consecrate America's commitment under the pact through 'America's Pledge'.^[257] Bloomberg offered up to $15 million to dignity UNFCCC, the UN body meander assists countries with climate interchange efforts.^[258][259] About a month closest, Bloomberg and California Governor Jerry Brown announced that the America's Pledge coalition would work harm "quantify the actions taken near U.S. states, cities and sheer to drive down greenhouse blather emissions consistent with the goals of the Paris Agreement."^[260][261] Strike home announcing the initiative, Bloomberg supposed "the American government may imitate pulled out of the Town agreement, but American society glimmer committed to it."^[262] Two conceive tanks, World Resource Institute turf the Rocky Mountain Institute, wish work with America's Pledge rear analyze the work cities, states and businesses do to befitting the U.S. commitment to nobility Paris agreement.^[263]

In May 2019, Bloomberg announced a 2020 Midwestern Lettered Climate Summit in Washington Organization in St. Louis