Michael Bloomberg

Former mayor of New York
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Michael Bloomberg dropped out of the presidential race on March 4, 2020. This page is no longer being updated.
Bloomberg made a late entry into the 2020 Democratic race in November 2019, offering a more moderate vision for the country and casting himself as a problem solver. He served as New York City’s mayor from 2002 to 2013 and is the co-founder, CEO, and owner of Bloomberg L.P., a privately-held financial, software, data, and media company.
Johns Hopkins University, B.S., 1964; Harvard University, MBA, 1966
February 14, 1942
Diana Taylor (partner); divorced from Susan Brown
Jewish
Emma and Georgina
Co-founder, Bloomberg LP (previously named Innovative Market Systems), 1982-present;
Investment banker, Salomon Brothers, 1966-1981

BLOOMBERG IN THE NEWS

Michael Bloomberg Fast Facts
Updated 3:02 PM ET, Wed Feb 7, 2024
Here is a look at the life of Michael Bloomberg, former New York mayor and 2020 Democratic presidential candidate. Personal Birth date: February 14, 1942 Birth place: Boston, Massachusetts Birth name: Michael Rubens Bloomberg Father: William Henry Bloomberg, bookkeeper Mother: Charlotte (Rubens) Bloomberg, office manager Marriage: Susan Brown (1976-1993, divorced) Children: Georgina, 1983; Emma, 1979 Education: Johns Hopkins University, B.S. in electrical engineering, 1964; Harvard Business School, M.B.A., 1966 Religion: Jewish Other Facts One of four New York City mayors to serve three terms. Left the Democratic party in 2001 and won his first two mayoral terms as a Republican. His third mayoral term was won as an independent, and then he rejoined the Democratic party in 2018. Diana Taylor has been his companion for more than 20 years. As mayor of New York, Bloomberg made sweeping changes to city schools, transportation, including extending subway lines, and public health, implementing extensive regulations targeting smoking and obesity. Since 2006, Bloomberg Philanthropies, an umbrella organization of Bloomberg's charities which includes the nonprofit Bloomberg Family Foundation, has donated billions to political interests and causes such as education, the environment and public health. Timeline 1966-1981 - Works as a clerk, and later partner at Salomon Brothers in New York. 1981 - Co-founds Bloomberg L.P. (formerly Innovative Market Systems) using a $10 million partnership buyout from Salomon Brothers. 1982 - Creates the Bloomberg terminal, a software system with a specialized keyboard used by financial professionals to trade stocks electronically and access live market data. 1990 - Co-founds Bloomberg News (formerly Bloomberg Business News). 1994 - Launches Bloomberg Television (formerly Bloomberg Information TV). 1996-2002 - Serves as chairman of the Johns Hopkins University's board of trustees. 1997 - His memoir, "Bloomberg by Bloomberg," is published. November 6, 2001 - Is elected mayor of New York. November 8, 2005 - Is elected to a second term. November 3, 2009 - Is elected to a third term after spending more than $100 million on his reelection campaign. In October, the New York City Council voted to extend the city's mayoral term limits from two four-year terms to three. May 2012 - Announces a proposal to ban the sale of sugary drinks larger than 16 ounces at restaurants, food carts and any other establishments that receive letter grades for food service. On June 26, 2014, New York's Court of Appeals rules that New York City's ban on large sugary drinks, which was previously blocked by lower courts, is illegal. July 27, 2016 - Endorses Hillary Clinton for president at the Democratic National Convention in Philadelphia. November 24, 2019 - Announces his late-entry Democratic presidential bid, unveiling a campaign squarely aimed at defeating President Donald Trump. November 24, 2019 - Bloomberg News Editor-in-Chief John Micklethwait releases a statement addressing how the network will cover the 2020 presidential campaign and reveals that it will not investigate Bloomberg or any other Democratic candidates. February 10, 2020 - Audio is posted online of Bloomberg from 2015, defending his use of "stop and frisk" as mayor by describing the policy as a way to reduce violence by throwing minority kids "up against the walls and frisk[ing] them." Bloomberg later says his 2015 comments about the controversial stop and frisk policing policy do not reflect the way he thinks or the way he led as mayor of New York City. February 18, 2020 - Qualifies for his first Democratic presidential debate, by polling four times at or above 10% nationally. February 18, 2020 - A campaign adviser tells CNN that Bloomberg would sell his financial information and media company if he's elected president, in an effort to be "180 degrees away from where Donald Trump is on these issues." February 19, 2020 - Faces criticism in first presidential debate from other Democratic candidates regarding campaign spending, his record on policing tactics as mayor of New York and misogynistic comments he allegedly made about women at his company in the 1980s and 1990s. March 4, 2020 - Ends his presidential campaign and endorses Joe Biden. September 3, 2020 - Bloomberg's charity, Bloomberg Philanthropies, announces he is donating $100 million to the nation's four historically Black medical schools to help ease the student debt burden for the next generation of Black physicians. September 25, 2020 - Bloomberg announces $40 million in TV ads supporting Biden statewide in Florida. February 2, 2022 - Joseph Beecher is arrested, accused of breaking into the Colorado ranch owned by Bloomberg and kidnapping a Bloomberg employee. Beecher demanded to know the location of Bloomberg's daughters, according to an arrest warrant affidavit. Beecher was found in Wyoming with the employee, who was unhurt. February 9, 2022 - Is nominated to serve as the chair of the Defense Innovation Board. Bloomberg is sworn in on June 22, 2022. September 20, 2023 - Announces an additional $500 million commitment to continue Beyond Carbon's aim of shutting down coal plants and reducing gas plant capacity.
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STANCES ON THE ISSUES

climate crisis
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Bloomberg said, if elected, he would make climate a top priority. The US would rejoin the Paris climate accord, the landmark 2015 global agreement on global warming targets. He has said he wants the US to create a clean energy economy and has vowed to create renewable energy jobs. Previously, he worked as the UN secretary-general’s special envoy for climate action, and he has worked with cities, states and businesses to address the climate crisis.
economy
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Bloomberg has vowed to create a housing proposal and an earned income tax credit to provide economic opportunity for all Americans. His housing proposal would expand funding for the Low-Income Housing Tax Credit, and would increase federal spending for programs like the Public Housing Capital Fund, the HOME program and Community Development Block Grants. He proposes revising the Earned Income Tax Credit and raising the incomes of low-wage workers. By 2025, he wants to increase the minimum wage to $15 an hour. Bloombergwrote in an op-ed in December 2017 that, in order to achieve revenue-neutral tax restructuring, he was in favor of reducing the 35% corporate tax rate. He criticized President Donald Trump’s 2017 tax overhaul as an “economically indefensible blunder that will harm our future.”
education
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Bloomberg would make it a top national priority to increase student achievement, college preparedness and career readiness. He says he leads national efforts to increase the number of lower-income students enrolled in top colleges, and that as mayor, he strengthened standards and created more quality school options. He says he increased graduation rates, increased the education budget and opened new schools. While he was mayor of New York, a state law placed the New York public school system under mayoral control. Bloomberg supported the move, and used the power to open new schools, champion charter schools and close poor-performing schools. He was often at odds with the United Federation of Teachers.
gun violence
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In 2014, Bloomberg pledged to spend $50 million to build a nationwide grassroots network to combat the National Rifle Association. He founded the umbrella group Everytown for Gun Safety, which brought together groups he already funded: Mayors Against Illegal Guns and Moms Demand Action for Gun Sense in America. A goal of the groups was to try to “expand the background check system for gun buyers both at the state and national levels,” according to The New York Times. If elected, Bloomberg says, he would continue to back common-sense gun policies. More on Bloomberg’s gun violence policy
healthcare
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Bloomberg said the US should expand Obamacare and Medicare in order to achieve universal coverage. His campaign website reads: “As a mayor, businessman, and philanthropist, Mike has pioneered bold health initiatives that have cleaned the air we breathe, expanded access to prenatal and postnatal care, increased screenings for breast and prostate cancer, dramatically cut teen smoking, and reduced injuries and deaths on roads.” Bloomberg said “Medicare for All” would “bankrupt us for a very long time,” The New York Times reported in January 2019. “I think you could never afford that. You’re talking about trillions of dollars,” he said of the single-payer health plan. As mayor, Bloomberg pushed for New York City to ban smoking in all restaurants and bars and for big soft drinks to be banned.
immigration
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Bloomberg founded New American Economy, a pro-immigration coalition of business leaders and mayors that aims to reach the public and policymakers. In 2018, the group targeted senators with a TV and phone campaign to urge them to protect so-called Dreamers, undocumented immigrants who came to the US as children.

LATEST POLITICAL NEWS

Biden speaks at Morehouse College commencement
Updated 12:27 PM ET, Sun May 19, 2024
President Joe Biden spent much of his commencement address focusing on the theme of democracy, while touting his administration's work for Black Americans. As a handful of student turned their chairs in a silent protest of Biden, the president listed some virtues of a healthy democracy. "In a democracy, we debate and dissent about America's role in the world," Biden said. He added: "I want to say this very clearly -- I support peaceful, nonviolent protest. Your voices should be heard. I promise you, I hear them." Biden said he was determined to make his "administration look like America" when he became president. "I have more African Americans in high places, including on the court, than any president in American history. Because I need the input," he said. Biden then shifted to the Middle East, calling the situation in Gaza a "humanitarian crisis" while saying his administration is working toward a ceasefire with the release of hostages. President Joe Biden subtly teased his hopes for the political future of his vice president and running mate while delivering the Morehouse commencement on Sunday. Saying he was "proud to put in the first Black woman on the United States Supreme Court," Biden added that he had "no doubt one day a Morehouse man will be on that court as well." He then added he had "no doubt a Morehouse man will be president one day - just after an AKA from Howard." Harris was a member of Alpha Kappa Alpha, a historically Black sorority, during her time as a student at Howard University. President Joe Biden said he's called for an "immediate ceasefire" in Gaza while delivering his commencement address at Morehouse College. “What’s happening in Gaza and Israel is heartbreaking," he said. He continued: "It's a humanitarian crisis in Gaza," the president said. "That's why I've called for an immediate ceasefire - an immediate ceasefire to stop the fighting and bring the hostages home." It was a forceful call for a ceasefire and an urgent call for a political solution in Gaza. Biden has previously said his administration is working towards a temporary ceasefire to secure the release of hostages still being held in Gaza. The president continued: “What happens in Gaza, what rights do the Palestinian people have? I'm working to make sure we finally get a two-state solution -- the only solution where two people live in peace, security, and dignity,” he said. As Biden began speaking, a student in the audience unfurled a Palestinian flag and held it up. Some students in the audience have turned their chairs so they are facing away from the president as he delivers his commencement address. President Joe Biden took the podium at Morehouse College at 10:29 a.m. ET. He started his remarks by recognizing the relatives of graduating seniors. "A lot of you, like my family, had to make significant sacrifices to get your kids to school," the president said. Morehouse College has conferred an honorary degree to President Joe Biden. Biden is the third US President to receive the honorific from Morehouse. President Barack Obama received an honorary degree when he delivered a commencement address at the college in 2013. Jimmy Carter received one in 1975, before he became president. Morehouse faculty approved Biden's honorary degree in a vote earlier this week. Morehouse valedictorian DeAngelo Fletcher called for a ceasefire in Gaza while speaking ahead of President Joe Biden's commencement address. "The Israel-Gaza conflict has plagued the people of its region for generations," Fletcher said while Biden looked on behind him. "It is important to recognize that both sides have suffered heavy casualties in the wake of October 7. From the comfort of our homes, we watched an unprecedented number of civilians mourn the loss of men, women and children. Fletcher called for the release of all hostages. He then continued: "For the first time in our lives, we've heard the global community sing one harmonious song that transcends language and culture." "It is my stance as a Morehouse man - nay, as a human being - to call for an immediate and permanent ceasefire in the Gaza Strip," he said. President Joe Biden has taken the stage at Morehouse College's commencement ceremony. He was met with applause and chants of "four more years" from the section reserved for graduates' families. Ahead of Sunday's commencement address, President Joe Biden consulted with prominent Black public figures for weeks and White House officials traveled to Morehouse College's campus to hold forth with students and faculty and attempt to quell their concerns. During a meeting in early May, roughly half of the two-hour conversation focused on the conflict in Gaza, one source said. Stephen Benjamin, the director of the White House office of public engagement, said he and the students had a wide-ranging conversation, which again included the conflict in the Middle East. Students are also concerned that their achievements will be overshadowed by a stump speech, according to people familiar with the discussions. They have expressed frustration that the format of the event and the level of security required for such a high-profile visit resulted in limited tickets for family members, many of whom must watch from an overflow room. Biden's scheduled appearance at Morehouse is a shift in strategy as the president has largely shied away from addressing large crowds of young people on college campuses, a change that came shortly after his January remarks on abortion rights at Virginia’s George Mason University were interrupted more than a dozen times by protesters outraged at his continued support for Israel in its war in Gaza. The Middle East conflict spurred more than 1,360 student demonstrations on campuses across the country from October 7 to May 3, according to data compiled by the Armed Conflict Location & Event Data Project.  “I understand people have strong feelings of deep convictions,” Biden said during brief remarks from the White House on campus protests earlier this month. “In America, we respect the right and protect the right for them to express that. But it doesn’t mean anything goes.” The program for Morehouse College's commencement began before 9 a.m. ET. President Joe Biden has arrived at the college and will speak later in the program. President Joe Biden has departed for Morehouse College, where he will deliver a commencement address later this morning. Morehouse College President David A. Thomas said Thursday he would shut down commencement ceremonies “on the spot” rather than allow police to remove student protesters in zip ties during President Joe Biden’s graduation speech. Biden’s scheduled commencement speech Sunday at one of the nation’s preeminent historically Black colleges comes as school officials around the country have called in law enforcement to clear pro-Palestinian encampments and quell demonstrations in recent weeks. “What we won’t allow is disruptive behavior that prevents the ceremony or services from proceeding in a manner that those in attendance can partake and enjoy,” Thomas told CNN. “So, for example, prolonged shouting down of the president as he speaks. I have also made a decision that we will also not ask police to take individuals out of commencement in zip ties. If faced with the choice, I will cease the ceremonies on the spot, if we were to reach that position.” Biden’s presence on the Atlanta campus also comes as he seeks to persuade young voters to send him to the White House for another term, even as many have expressed frustration for his administration’s continued support of Israel’s military campaign in Gaza. Thomas said the college will not allow “hate speech,” meaning any “calls for violence against another group or individual.” He said Morehouse is a place that “can hold the tensions” that have come to a boil at campuses across the nation. Ahead of President Joe Biden's commencement address at Morehouse College on Sunday, the school is bracing for enhanced security measures and potential pro-Palestinian protests amid the president’s stalwart support for Israel’s campaign against Hamas.  There have been mixed reactions within the Morehouse community to Biden’s presence on campus. Morehouse extended the invitation to Biden to speak in September, a month before the Israel-Hamas war started, but since the announcement that Biden would deliver the commencement speech, several student-led protests have taken place on and off the Morehouse campus.  Noah Collier, a senior, told CNN that his school needs to rescind Biden’s invitation because, he says, if the president speaks on his campus this weekend, it “shows our institution’s complicity in all of the injustices created by Biden’s Cabinet and the US government.” Meanwhile, Calvin Bell, another senior, told CNN that he is "looking forward to Biden coming on campus in order to hear what his speech truly has to say." “As someone who has felt very weird at this portion in time and history, with the tension in Gaza, I think it’s important for Biden to come with the intention of wrestling with the issues at hand, and reassuring students such as myself, as well as our family members, who are a part of the Black community," Bell said. The Morehouse address is under the microscope as a potential litmus test for the president’s strength with young voters of color in the fall. The president’s advisers say he’s intent on keeping the focus on the graduates even as the prospect of protests lingers over the event. Morehouse College President David A. Thomas said it wouldn’t be in Biden’s interest to “give a campaign stump speech.” He called on the president to discuss what the school represents, lay out his vision for “a more inclusive economy” and address the Israel-Hamas war.
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