Getty What is Mike Bloomberg's net worth?
How much is 2020 presidential candidate Mike Bloomberg worth? A lot. He’s a billionaire many times over.
Bloomberg will take the debate stage for the first time in Las Vegas, Nevada on February 19, 2020 due to his surge in the polls. He’s also been spending a fortune on advertising. With all of that has come a flurry of extra scrutiny over past comments he’s made and the like.
Other primary candidates are already trying to make Bloomberg’s extreme wealth an issue. “It’s a shame Mike Bloomberg can buy his way into the debate,” Senator Elizabeth Warren tweeted. “But at least now primary voters curious about how each candidate will take on Donald Trump can get a live demonstration of how we each take on an egomaniac billionaire.”
Mike Bloomberg Net Worth
Michael Bloomberg is worth a whopping $64.2 billion, according to Forbes. In fact, in 2019, Forbes ranked Bloomberg as the world’s 9th richest person.
Here’s what you need to know:
1. Bloomberg Built His Fortune in the Media & Financial Services Industries
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Mike Bloomberg’s fortune derives from the financial information and media company Bloomberg LP, which he co-founded in 1981, according to Forbes, which says he owns 88 percent of it.
The company’s revenues, Forbes reports, are an estimated $10 billion. He has an MBA from Harvard, starting out his career at Salomon Brothers in the 1960s.
According to Forbes, Bloomberg eventually became general partner but was fired in 1981. However, that’s when he saw the opportunity to create his own company. According to The Street, Salomon Brothers had undergone a merger.
Bloomberg is 78 years old.
2. Bloomberg Has Put Millions of Dollars Toward Charities & Political Causes
Michael Bloomberg attends the Hudson River Park Annual Gala at Cipriani South Street on October 17, 2019 in New York City.
Bloomberg, of course, was the New York City mayor. He also has been involved in funding causes that he agrees with politically.
For example, according to The Street, gun control has long been a pet cause of his. In 2014, the site reported that he “financed a gun control initiative with $50 million.”
Climate change is another cause he cares about, and, again, he put his money behind it. According to The Street, he he pledged $500 million “to a campaign to end coal-based power plants in the U.S.”
3. Bloomberg’s Daughter is an Elite Equestrienne
Michael Bloomberg (C), Diana Taylor, and Georgina Bloomberg (R) arrive for the 2019 Met Gala at the Metropolitan Museum of Art on May 6, 2019, in New York. – The Gala raises money for the Metropolitan Museum of Arts Costume Institute. The Gala’s 2019 theme is Camp: Notes on Fashion” inspired by Susan Sontag’s 1964 essay “Notes on Camp.”
Riding horses competitively is certainly a past time available only to the wealthy. Bloomberg’s daughter Georgina is an accomplished equestrienne at an elite level.
Georgina appeared in a documentary called “Born Rich” in 2003, and, despite the opportunities her father’s vast wealth has afforded her, she said: “having the last name Bloomberg sucks.” Three years later, according to Business Insider, she revealed that she worries that people think her successes are due to her dad’s money.
She later told Town and Country: “I’ve come to have a lot more respect for my parents and my last name and everything that my father has done and how hard he worked to provide a great life for us. It’s a last name that now I’m proud of.”
Georgina’s website says, “Georgina Bloomberg is an accomplished professional show jumper based in New York City, N.Y., North Salem, N.Y., and Wellington, Fla. Bloomberg represented the United States Equestrian Team at the 2015 Pan American Games in Toronto, Canada, where she earned a Team Bronze medal.”
4. Bloomberg Has Been Financially Generous to Former Partners
Susan Bloomberg attends the 10th annual mother of the year luncheon at the St. Regis Hotel February 28, 2005 in New York City.
Michael Bloomberg is divorced from his long-time wife Susan Brown. She’s clearly doing well financially after the split. According to Observer, Bloomberg helped her get a $500,000 bridge loan to buy an apartment.
The condo is across the street from Mike’s Fifth Avenue limestone mansion. She previously sold a penthouse duplex for $11.7 million, the site reports. The new condo cost almost $5 million. Bloomberg has two daughters with Susan.
He’s been generous to the women in his life before. According to New York Magazine, he gave former companion Mary Jane Salk “a trust fund worth at least $500,000 and a Park Avenue condominium, which he bought in 2000 for $3.75 million.”
5. Bloomberg Is Self-Made & Was Raised in Humble Circumstances
Former New York City mayor Michael Bloomberg, UN secretary-general’s special envoy for cities and climate change and founding partner of the Compact of Mayors, participates in a discussion on “Progress and Potential in the Months Since the Climate Summit for Local Leaders” at the Climate Action 2016 conference in Washington, DC, on May 5, 2016.
Mike Bloomberg made his own fortune. He doesn’t come from a family of great wealth.
On his website biography page, he describes himself as a “middle class kid who worked his way through college.” Despite the family’s modest means, Bloomberg has described how his dad instilled charitable giving values in him.
“One of Mike Bloomberg’s earliest memories took place around his family’s dining room table in Medford, Massachusetts. His father – a bookkeeper at a local dairy who never earned more than $6,000 a year in his life – sat down and wrote out a $25 or $50 check to the NAACP. When Mike asked him why, his father responded: ‘Because discrimination against anyone is a threat to everyone,'” the website bio says.
The bio says that Bloomberg obtained government loans for school, saying, “Mike Bloomberg grew up in a middle-class family outside of Boston. He wasn’t born into wealth or social connections. His drive to succeed, love of work, and passion for service began at a young age. When he was 12 years old he became one of the youngest Eagle Scouts in history. To help pay his way through Johns Hopkins University, he worked in a parking lot and took out government loans.”
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