Michael Bloomberg: A Billionaire Philanthropist and Politician

Michael Rubens "Mike" Bloomberg is a prominent Jewish-American billionaire, philanthropist, and politician who served as the Mayor of New York City for 12 years, from 2002 to 2013. As of January 2022, Bloomberg's estimated net worth stands at over $70 billion. Starting from February 2014, he has also held the position of United Nations Special Envoy for Climate Action.

Early Life and Education

Michael Bloomberg was born in Brighton, Boston, Massachusetts, to William Henry Bloomberg and Charlotte Rubens, both of whom were Jewish immigrants. His father, William, worked as an accountant at a dairy, and his mother, Charlotte, came from a family of Jewish immigrants from Lithuania. In his early childhood, his family resided in Alston, and when he was two years old, they moved to the nearby neighborhood of Brooklyn for another two years before settling in Medford, where Bloomberg completed his schooling.

During his youth, Bloomberg actively participated in the Boy Scouts movement and achieved its highest rank by the age of 12. After completing elementary school, he continued his education at Medford High School.

Bloomberg later pursued a Bachelor of Science degree in electrical engineering from Johns Hopkins University in 1964. He went on to earn an MBA from Harvard University in 1966. He has been a generous donor to Johns Hopkins University, contributing over $100 million, and also served as the chairman of the board of trustees at the university. In 1997, Michael Bloomberg published his autobiography, titled "Bloomberg by Bloomberg."

Business Career

Michael Bloomberg made a significant portion of his fortune as a co-founder of "Bloomberg L.P.," a financial information and media company that specializes in providing data and services to traders on Wall Street. Today, Bloomberg L.P. is the second-largest provider of financial news and information worldwide. Bloomberg holds an 88% ownership stake in the company and is one of the wealthiest individuals globally, with an estimated net worth of $55.5 billion.

Political Career

Bloomberg has been associated with both the Democratic and Republican parties at various points in his political career. In 2001, he ran for mayor of New York City as a Republican and succeeded Rudy Giuliani. He was reelected in 2005. In June 2007, he left the Republican Party and became an independent politician. In November 2009, he was reelected for a third term as mayor of New York City.

During Operation Cast Lead in January 2009, Bloomberg visited Israel and expressed strong support for Israel's right to defend itself and its residents in the face of rocket attacks from Gaza.

Philanthropy and Donations

Michael Bloomberg has been a generous contributor to Jewish causes in both the United States and Israel. He donated $50 million for the construction of the Magen David Adom station in Jerusalem, which was inaugurated on October 23, 2011. His contributions to Johns Hopkins University amount to over a billion dollars. In November 2013, Bloomberg became the inaugural Genesis Prize laureate, receiving an award of $1 million. He pledged to donate the prize money to various causes.

At the end of his tenure as mayor in 2013, Bloomberg reportedly spent approximately $650 million of his own money on his political activities. During his time as mayor, he opted to receive only a $1 annual salary.

In 2019, Michael Bloomberg announced his return to the Democratic Party and filed his candidacy for the Democratic primaries in Alabama in preparation for the 2020 U.S. presidential election. On December 4, 2019, he officially announced his candidacy for President of the United States, challenging Donald Trump. In February 2020, he withdrew from the race after experiencing losses to the leading Democratic candidate, Joe Biden.

Personal Life

Michael Bloomberg is divorced and has two daughters. His daughter, Georgina Bloomberg, is a professional equestrian. He is fluent in both English and Spanish. Although he learned Hebrew in his childhood, he does not speak the language fluently.

Michael Bloomberg's life is a testament to his success as a businessman, philanthropist, and political figure, with a lasting impact on various fields, including finance, education, and climate action.

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