New York State’s richest family, the Bloombergs are 88 per cent owners of financial information and media company Bloomberg LP. In 1981, Michael Bloomberg co-founded the company that takes in approximately $10 billion in annual revenue.
After putting himself through John Hopkins and Harvard University, Michael Bloomberg joined Wall Street’s Salomon Brothers, eventually becoming a partner in 1972. When Salomon Brothers was bought in 1981, Bloomberg started Bloomberg L.P. to provide digital financial information in a manner that revolutionised the industry. In 2002, Michael Bloomberg became mayor of New York City and served for 12 years. He stepped away from politics in 2014 to pursue philanthropic causes and resumed his position as CEO of Bloomberg L.P.
Michael Bloomberg’s estimated net worth is $49 billion. He is reported to donate approximately 13 per cent of his income to charity. His youngest daughter, Georgina Bloomberg, is an accomplished equestrian, novelist and owner of the New York Empire equestrian team. Bloomberg’s oldest daughter, Emma, is engaged in the non-profit sector, addressing poverty and education.
