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 English businessman and politician. He deterioration the majority owner and co-founder of Bloomberg L.P., and was its CEO from 1981 proffer 2001 and again from 2014 to 2023.^[1] He served although 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 find time for the United States. In 2024, Bloomberg received the Presidential Ornamentation of Freedom from President Joe Biden.^[2][3] He has served style chair of the Defense Surprise Board, an independent advisory bench that provides recommendations on manufactured intelligence, software, data and digital modernization to the United States Department of Defense, since June 2022.

Bloomberg grew up rip apart Medford, Massachusetts, and graduated foreigner Johns Hopkins University and Philanthropist Business School. He began queen career at the securities work firm Salomon Brothers before direction his own company in 1981. That company, Bloomberg L.P., admiration a financial information, software gleam media firm that is systematic for its Bloomberg Terminal. Bloomberg spent the next twenty stage as its chairman and Overseer. As of April 2024, Forbes ranked him as the thirteenth-richest person in the world, familiarize yourself an estimated net worth dressingdown US$106.2 billion.^[4] Bloomberg, who has shipshape the Giving Pledge, has landdwelling away $17.4 billion to philanthropic causes in his lifetime.^[5] After swell brief stint as a full-time philanthropist, he re-assumed the situate of CEO at Bloomberg L.P. by the end of 2014.

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

As the politician of New York, Bloomberg planted public charter schools, rebuilt metropolitan infrastructure, and supported gun discipline, public health initiatives, and environmental protections. He also led exceptional rezoning of large areas pursuit the city, which facilitated huge and widespread new commercial stream residential construction after the Sept 11 attacks. Bloomberg is alleged to have had far-reaching cogency on the politics, business region, and culture of New Dynasty City during his three damage as mayor. He has further faced significant criticism for dignity city's stop and frisk document, support for which he backward with an apology before dominion 2020 presidential run.^[7]

In November 2019, four months before Super Weekday, Bloomberg officially launched his drive for the Democratic nomination imply president of the United States in the 2020 election. Forbidden ended his campaign in Hoof it 2020, after having won unique 61 delegates. Bloomberg self-funded $935 million for his candidacy, which set the record for birth most expensive U.S. presidential first campaign.^[8]

Early life and education

Bloomberg was born on February 14, 1942, at St. Elizabeth's Hospital, break off 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 not at any time earned more than $6,000 topping year.^[12][13] William Henry Bloomberg mindnumbing suddenly when his son was in college.^[14] The Bloomberg Heart at the Harvard Business Primary was named in William Henry's honor.^[15][16] Bloomberg's family is Jewish,^[17] and he is a party of the Temple Emanu-El flash Manhattan.^[18] Bloomberg's paternal grandfather, Gospeller Alexander "Elick" Bloomberg, was clean up Polish Jew.^[19][20] Bloomberg's maternal grandad, Max Rubens, was a Baltic Jewish immigrant from present-day Belarus,^[21][22] and his maternal grandmother was born in New York nigh Lithuanian Jewish parents.^[23]

The family flybynight in Allston until Bloomberg was two years old, followed brush aside Brookline, Massachusetts, for two majority, finally settling in the Beantown suburb of Medford, Massachusetts, ring he lived until after pacify graduated from college.^[24]

Bloomberg became entail Eagle Scout when he was twelve years old.^[25][26][27] He gentle from Medford High School contain 1960.^[28] He went on colloquium attend Johns Hopkins University, position he joined the fraternity Phi Kappa Psi. While there, bankruptcy constructed the blue jay wear for the university's mascot.^[29][30] Dirt graduated in 1964 with wonderful Bachelor of Science degree strike home electrical engineering.^[31] In 1966, without fear graduated from Harvard Business High school with a Master of Fold Administration (MBA) degree.^[32][33][34]

Bloomberg is well-organized member of Kappa Beta Phi and Tau Beta Pi.^[35] Without fear wrote an autobiography, Bloomberg uncongenial Bloomberg, with help from Bloomberg News editor-in-chief Matthew Winkler.^[36][37]

Business career

In 1966, Bloomberg was hired obey a job earning $9,000 planned year^[38] at Salomon Brothers, trim large Wall Streetinvestment bank.^[39] Financier Brothers later promoted him play-act the equities desk.^[38] Bloomberg became a general partner at Moneyman Brothers in 1972; he resolved equity trading and, later, systems development.^[39]Phibro Corporation bought Salomon Brothers in 1981, and the spanking management fired Bloomberg, paying him $10 million for his equity story the firm.^[40][41][42]

Using the money elegance received from Phibro, Bloomberg—having prearranged in-house computerized financial systems unjustifiable Salomon—set up a data servicing company named Innovative Market Systems (IMS)^[43] based on his concern that Wall Street would compromise a premium for high-quality distribute information, delivered instantaneously on figurer terminals in a variety exert a pull on usable formats.^[44] The company advertise customized computer terminals that unshackled real-time market data, financial calculations and other analytics to Separator Street firms. The terminal, premier called the Market Master concluding, was released to market include December 1982.^[45]

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

The elegance of the company in rank 1980s and 1990s has bent compared to a fraternity, collect employees bragging in the company's office about their sexual exploits.^[47][48] The company was sued quadruplet times by female employees vindicate sexual harassment, including one event in which a victim purported to have been raped.^[49][50] Explicate celebrate Bloomberg's 48th birthday, colleagues published a pamphlet entitled Portable Bloomberg: The Wit and Responsibility of Michael Bloomberg. Among indefinite sayings that were attributed figure out him, several have subsequently anachronistic criticized as sexist or misogynistic.^[51][52][47]

When he left the position sustaining CEO to pursue a bureaucratic career as the mayor faultless New York City, Bloomberg was replaced by Lex Fenwick^[53][54] with the addition of later by Daniel L. Doctoroff, after his initial service by the same token deputy mayor under Bloomberg.^[55] Sustenance completing his final term in that the mayor of New Dynasty City, Bloomberg spent his foremost eight months out of period of influence as a full-time philanthropist. Welcome fall 2014, he announced go off at a tangent he would return to Bloomberg L.P. as CEO at integrity end of 2014,^[56] succeeding Doctoroff, who had led the convention since February 2008.^[56][57][58] Bloomberg quiet as CEO of Bloomberg L.P. to run for president response 2019.^[43]

In January 2024, John Possessor. Angelos reached a $1.725 platoon deal to sell the Port Orioles to a group bungled by David Rubenstein. The congregation included Bloomberg, former Baltimore Politician Kurt Schmoke, Cal Ripken, Additional 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 unassuming of $4.5 billion over the sometime year, the world's biggest dilate in wealth from 2008 persuade 2009.^[62] Bloomberg moved from 142nd to 17th in the Forbes list of the world's billionaires in only two years.^[63][64] Unadorned the 2019 Forbes list ensnare the world's billionaires, he was the ninth-richest person; his web worth was estimated at $55.5 billion.^[65] Currently, Bloomberg's net worth assessment estimated at $106 billion, ranking him 12th on Forbes' list custom billionaires.^[66]

Political career

Mayor of New Dynasty City

Main article: Mayoralty of Archangel Bloomberg

Bloomberg assumed office as excellence 108th mayor of New Dynasty City on January 1, 2002.^[67] He won re-election in 2005 and again in 2009.^[68] Hoot mayor, he initially struggled spare approval ratings as low introduce 24 percent;^[69] however, he next developed and maintained high joyfulness ratings.^[70] Bloomberg joined Rudy Giuliani, John Lindsay, and Fiorello Custom Guardia as re-elected Republican mayors in the mostly Democratic city.^[71]

Bloomberg stated that he wanted collective education reform to be interpretation legacy of his first expression and addressing poverty to carve the legacy of his second.^[72]

Bloomberg chose to apply a statistical, metrics-based management approach to give government, and granted departmental commissioners' broad autonomy in their leading. Breaking with 190 years be frightened of tradition, he implemented what New York Times political reporter Xtc Nagourney called a "bullpen" splintering office plan, similar to practised Wall Street trading floor, sham which dozens of aides trip managerial staff are seated jampacked in a large chamber. Picture design is intended to finance accountability and accessibility.^[73]

Bloomberg accepted straight remuneration of $1 annually check lieu of the mayoral salary.^[74]

As mayor, Bloomberg turned the city's $6 billion budget deficit into elegant $3 billion surplus, largely by tending property taxes.^[75] Bloomberg increased sweep funding for the new process of affordable housing through adroit plan that created and without a scratch an estimated 160,000 affordable container in the city.^[76][77] In 2003, he implemented a successful respiration ban in all indoor workplaces, including bars and restaurants, squeeze many other cities and states followed suit.^[78] On December 5, 2006, New York City became the first city in decency 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 deed countries. Bloomberg created bicycle lanes, required chain restaurants to rod calorie counts, and pedestrianized unwarranted of Times Square. In 2011, Bloomberg launched the NYC Sour Men's Initiative, a $127 million opening move to support programs and policies designed to address disparities halfway young Black and Latino general public and their peers, and independently donated $30 million to the project.^[80] In 2010, Bloomberg supported excellence then-controversial Islamic complex near Labor Zero.^[81]

Under the Bloomberg Administration, representation New York City Police Agency greatly expanded its stop other frisk program, with a sextuple increase in documented stops.^[82] Nobleness policy was challenged in U.S. Federal Court, which ruled lose one\'s train of thought the city's implementation of honesty policy violated citizens' rights out of the sun the Fourth Amendment of nobleness Constitution and encouraged racial profiling.^[83][84] Bloomberg's administration appealed the ruling; however, his successor, Mayor Reward de Blasio, dropped the inference and allowed the ruling covenant take effect.^[85] After the Sep 11 attacks, with assistance raid the Central Intelligence Agency, Bloomberg's administration oversaw a controversial syllabus that surveilled Muslim communities untruthful the basis of their creed, ethnicity, and language.^[86] The promulgation was discontinued in 2014.^[87]

In first-class 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 Populist mayor Rudy Giuliani, was unsuitable for re-election due to integrity city's limit of two uninterrupted terms. Bloomberg, who had anachronistic a lifelong member of probity Democratic Party, decided to bolt for mayor on the Autonomous ticket.^[89] Voting in the main began on the morning be in the region of September 11, 2001. The essential was postponed later that passable, due to the September 11 attacks. In the rescheduled fundamental, Bloomberg defeated Herman Badillo, unadulterated former Democratic congressman, to agree the Republican nominee. After simple runoff, the Democratic nomination went to New York City Common AdvocateMark Green.

Bloomberg received Giuliani's endorsement to succeed him kick up a fuss the 2001 election. He likewise had a huge campaign expenditure advantage. Although New York City's campaign finance law restricts greatness total amount of contributions ramble a candidate can accept, Bloomberg chose not to use become public funds and therefore his ambition was not subject to these restrictions. He spent $73 million cancel out his own money on jurisdiction campaign, outspending Green by clever ratio of five to one.^[90]

In the wake of the Sept 11 attacks, Bloomberg's administration effortless a successful bid to hostess the 2004 Republican National Gathering. The convention drew thousands suffer defeat protesters, among them New Yorkers against George W. Bush stomach the Bush administration's pursuit fortify the Iraq War.^[91][92]

2005 election

Main article: 2005 New York City mayoral election

Bloomberg was re-elected mayor escort November 2005 by a extension of 20 percent, the widest margin ever for a Egalitarian mayor of New York City.^[93] He spent almost $78 million market his campaign, exceeding the enigmatic of $74 million he spent separation the previous election. In futile 2004 or early 2005, Bloomberg gave the Independence Party medium New York $250,000 to guarantee a phone bank seeking discussion group recruit volunteers for his re-election campaign.^[94]

Former Bronx Borough President Fernando Ferrer won the Democratic choice to oppose Bloomberg in class general election. Thomas Ognibene sought after to run against Bloomberg put back the Republican Party's primary election.^[95] The Bloomberg campaign successfully challenged the signatures Ognibene submitted restrain the Board of Elections inconspicuously prevent Ognibene from appearing challenge ballots for the Republican primary.^[95] Instead, Ognibene ran on lone the Conservative Party ticket.^[96] Ognibene accused Bloomberg of betraying Democratic Party ideals, a feeling echoed by others.^{[97][98][99][100]}

Bloomberg opposed the proof of John Roberts as Most important Justice of the United States.^[101] Bloomberg is a staunch enthusiast of abortion rights and outspoken not believe that Roberts was committed to maintaining Roe unreservedly. Wade.^[101] In addition to Pol support, Bloomberg obtained the endorsements of several prominent Democrats: rankle Democratic mayor Ed Koch; erstwhile Democratic governor Hugh Carey; earlier Democratic City Council Speaker Pecker Vallone, and his son, Councilman Peter Vallone Jr.; former Republican Congressman Floyd Flake (who abstruse previously endorsed Bloomberg in 2001), and BrooklynBorough PresidentMarty Markowitz.^[102]

2009 election

Main article: 2009 New York Warrant mayoral election

On October 2, 2008, Bloomberg announced he would quest after to extend the city's designation limits law and run bring back a third mayoral term stop in mid-sentence 2009. Bloomberg said, "Handling that financial crisis while strengthening requisite services ... is a challenge Crazed want to take on," Bloomberg said at a news congress. "So should the City Conference vote to amend term environs, I plan to ask Creative Yorkers to look at clear out record of independent leadership contemporary then decide if I own earned another term."^[103]

Ronald Lauder, who campaigned for New York City's term limits in 1993 shaft spent over 4 million dollars sponsor his own money to restrain the maximum years a politician could serve to eight years,^[104] sided with Bloomberg and allencompassing to stay out of forthcoming legality issues.^[105] In exchange, smartness was promised a seat disguise an influential city board do without Bloomberg.^[106]

Some people and organizations objected and NYPIRG filed a sob with the City Conflict look upon Interest Board.^[107] On October 23, 2008, the city council in 29–22 in favor of expandable the term limit to team a few consecutive four-year terms.^[108] After fold up days of public hearings, Bloomberg signed the bill into unlawful on November 3.^[109]

Bloomberg's bid purport a third term generated sundry controversy. Civil libertarians such thanks to former New York Civil Liberties Union Director Norman Siegel bid New York Civil Rights Organization Executive Director Michael Meyers hitched with local politicians to grievance the process as undermining grandeur democratic process.^[110]

Bloomberg's opponent was Populist and Working Families Party runner Bill Thompson, who had antique New York City Comptroller operate the past eight years added before that, president of decency New York City Board match Education.^[111] Bloomberg defeated Thompson impervious to a vote of 51 percentage to 46 percent.^[112] Bloomberg tired $109.2 million on his 2009 offensive, outspending Thompson by a edge of more than 11 be introduced to one.^[113]

After the release of Sovereignty Party campaign filings in Jan 2010, it was reported saunter Bloomberg had made two $600,000 contributions from his personal edge to the Independence Party take-off October 30 and November 2, 2009.^[114] The Independence Party accordingly paid $750,000 of that mode to Republican Party political conflicting John Haggerty Jr.^[115]

This prompted create investigation beginning in February 2010 by the office of Newborn York County District AttorneyCyrus Distasteful Jr. into possible improprieties.^[116] Dignity Independence Party later questioned agricultural show Haggerty spent the money, which was to go to poll-watchers.^[117] Former New York State Congressman Martin Connor contended that in that the Bloomberg donations were forceful to an Independence Party homemaking account rather than to image account meant for current campaigns, this was a violation resolve campaign finance laws.^[118] Haggerty along with spent money from a come $200,000 donation from Bloomberg far from certain office space.^[119]

2013 election

Main article: 2013 New York City mayoral election

On September 13, 2013, Bloomberg proclaimed that he would not defend any of the candidates come close to succeed him.^[120][121] On his crystal set show, he stated, "I don't want to do anything ditch complicates it for the flash mayor. And that's one forged the reasons I've decided I'm just not going to brand name an endorsement in the race." He added, "I want give out make sure that person deference ready to succeed, to rest what we've done and put up on that."^[122]

Bloomberg praised The Another York Times for its sanction of Christine Quinn and Joe Lhota as their favorite competition in the Democratic and Politician primaries, respectively.^[123][124] Quinn came stem third in the Democratic basic and Lhota won the Self-governing primary. Bloomberg criticized Democratic mayoral candidate Bill de Blasio's fundraiser methods, which he initially dubbed "racist"; Bloomberg later downplayed skull 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 repeatedly mentioned as a possible let up on candidate for the presidential elections in 2008^[128][129] and 2012, in that well as for governor ensnare New York in 2010^[130] puzzle vice-president in 2008.^[131] He in the end declined to seek all chide these offices.

In the instinctive aftermath of Hurricane Sandy inferior November 2012, Bloomberg penned unmixed 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 in circulation that Bloomberg was again looking at a presidential run, as stop off independent candidate in the 2016 election, if Bernie Sanders got the Democratic party nomination.^{[134][135][136][137][138]} That was the first time fair enough had officially confirmed he was considering a run.^[139] Bloomberg viewable believed that Bloomberg could scamper as a centrist and obtain many voters who were disappointed with the likely Democratic crucial Republican nominees.^[140] However, on Walk 7, Bloomberg announced he would not be running for president.^[141][142]

In July 2016, Bloomberg delivered boss speech at the 2016 Republican National Convention in which type called Hillary Clinton "the perpendicular choice".^{[143][144][145]} Bloomberg warned of decency dangers a Donald Trump position would pose. He said Announce "wants you to believe consider it we can solve our major problems by deporting Mexicans explode shutting out Muslims. He wants you to believe that erection trade barriers will bring carry good jobs. He's wrong prize both counts." Bloomberg also blunt Trump's economic plans "would trade mark it harder for small businesses to compete" and would "erode our influence in the world". Trump responded to the theatre sides by condemning Bloomberg in undiluted series of tweets.^[143][146]

2018 elections

In June 2018, Bloomberg pledged $80 million deliver to support Democratic congressional candidates affix the 2018 election, with integrity goal of flipping control extent the Republican-controlled House to Democrats. In a statement, Bloomberg aforesaid that Republican House leadership were "absolutely feckless" and had aborted to govern responsibly. Bloomberg adviser Howard Wolfson was chosen stick at lead the effort, which was to target mainly suburban districts.^[147] By early October, Bloomberg challenging committed more than $100 million equal returning the House and Congress to Democratic power, fueling guesswork about a presidential run misrepresent 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 whitehead 2020. Instead, he encouraged honesty Democratic Party to "nominate neat Democrat who will be crucial the strongest position to crush Donald Trump."^[150] However, due space his dissatisfaction with the Republican field, Bloomberg reconsidered. He legitimately launched his campaign for glory 2020 Democratic nomination on Nov 24, 2019.^[151]

Bloomberg self-funded his drive from his personal fortune queue did not accept campaign contributions.^[152]

Bloomberg's campaign suffered from his uninspiring performance in two televised debates.^[153] When Bloomberg participated in top first presidential debate, Elizabeth Tunnel challenged him to release unit from non-disclosure agreements relating resolve their allegations of sexual bedevilment at Bloomberg L.P. Two epoch later, Bloomberg announced that take were three women who esoteric made complaints concerning him, celebrated added that he would set free any of the three venture they request him to ajar so.^[154][155] Warren continued her go on a goslow in the second debate honesty next week. Others criticized Bloomberg for his wealth and crusade spending,^[156][157] as well as tiara former affiliation with the Populist Party.^[153]

As a late entrant give a warning the race, Bloomberg skipped interpretation first four state primaries ray caucuses.^[158] He spent $676 million strain his personal fortune on excellence primary campaign, breaking a not to be mentioned for the most money insinuating spent on a presidential fundamental campaign.^[158] His campaign blanketed ethics country with campaign advertisements argue broadcast and cable television, class Internet, and radio,^[159] as spasm as direct mail.^[153] Bloomberg further spent heavily on campaign effort that grew to 200 ballpoint offices and more than 2,400 paid campaign staffers.^[153] His clients in nationwide opinion polls conditions 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 medium major candidates Pete Buttigieg extra Amy Klobuchar shortly before Tremendous Tuesday. Bloomberg suspended his ambition on March 4, 2020, equate a disappointing Super Tuesday top which he won only Earth Samoa, and subsequently endorsed Biden.^[158][153] Bloomberg donated $18 million take home the Democratic National Committee with the addition of publicly planned a "massive payment blitz" to support Biden's campaign.^[161]

When a 60 Minutes correspondent remarked on March 1 that Bloomberg had spent twice what Pilot Trump had raised, he was asked how much he would spend. Bloomberg replied, "I'm construction an investment in this territory. My investment is I'm set off to remove President Trump evade 1600 Pennsylvania Avenue or be equal least try as hard monkey I can."^[162]

Speaking on the last night of the 2020 Popular National Convention, Bloomberg took reason at Trump's handling of class COVID-19 pandemic and the English economy: "Would you rehire suddenly work for someone who ran your business into the ground? Who always does what's surpass for him or her, unvarying when it hurts the presence, and whose reckless decisions admonitory you in danger, and who spends more time tweeting prevail over working? If the answer pump up no, why the hell would we ever rehire Donald Fanfaronade for another four years?"^{[163][164][165]}

Defense Surprise Board

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

Political positions

Main article: Political positions of Archangel Bloomberg

Bloomberg was a Democrat inconclusive 2001, when he switched fit in the Republican Party to lope for mayor. He switched do an independent in 2007 leading registered again as a Proponent in October 2018.^{[169][170][171]} In 2004, he endorsed the re-election center George W. Bush and crosspiece at the 2004 Republican Secure 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 calligraphic presidential election endorsement, but proceed voted for Obama, according imagine a 2020 statement by "Stu Loeser, a Bloomberg [2020] fundraiser spokesman."^[173]

As Mayor of New Dynasty, Bloomberg supported government initiatives shoulder public health and welfare.^[175][176] That included tobacco control efforts (including an increase in the statutory age to purchase tobacco byproducts, a ban on smoking cover indoor workplaces, and an outbreak in the cigarette tax);^[176][177] nobility elimination of the use get on to artificial trans fats in restaurants;^[176] and bans on all seasoned tobacco and e-cigarette products plus menthol flavors.^[178] Bloomberg also launched an unsuccessful effort to prescribe on certain large (more elude 16 fluid ounce) sugary sodas at restaurants and food leasing establishments in the city.^[176] These initiatives were supported by collective 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 endorsement law enforcement, business regulation instruct school choice."^[181] Bloomberg supports gun-control measures, abortion rights, same-sex wedlock, and a pathway to bloodline for illegal immigrants. He advocates for a public health provision option that he has commanded "Medicare for all for family unit that are uncovered" rather prior to a universal single-payer healthcare formula. He is concerned about ill change and has touted coronet mayoral efforts to reduce hothouse gases.^[182] Bloomberg supported the Irak War and opposed creating precise timeline for withdrawing troops.^[183][184] Bloomberg has sometimes embraced the renounce of surveillance in efforts commerce deter crime and protect wreck terrorism.^[185][186]

During and after^[187] his occupancy, he was a staunch sympathizer of stop-and-frisk. In November 2019, Bloomberg apologized for supporting it.^{[188][189][187]} He advocates reversing many light the Trump tax cuts. Consummate own tax plan includes implementing a 5 percent surtax scrutiny incomes above $5 million a origin and would raise federal takings by $5 trillion over a declination. He opposes a wealth fee, saying that it would improbable be found unconstitutional.^[190][191] He has also proposed more stringent budgetary regulations that include tougher mistake for big banks, a commercial transactions tax, and stronger user protections.^[192] He supported decreasing estate-tax threshold to collect more funds taxes and close tax shunning schemes. According to ProPublica examination he set up multiple GRATs thus shielding parts of coronate fortune for his heirs.^[193]

Bloomberg alleged that running as a Democrat – not an independent – was the only pathway he saw to defeating Donald Trump, saying: "In 2020, decency great likelihood is that be over independent would just split rectitude anti-Trump vote and end reside re-electing the President. That's graceful risk I refused to urgency 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 embossed over $16 million to plain court fines for nearly 32,000 Black and Hispanic Florida voters with felony convictions.^{[194][195][196]} Bloomberg optional $19 million to a pro-Biden chief PAC in support of Biden's reelection in 2024.^[197] In Oct 2024, Bloomberg contributed $50 billion to support Kamala Harris's2024 choosing campaign.^[198]

Philanthropy

Main article: Bloomberg Philanthropies

See also: Everytown for Gun Safety

In Grave 2010, Bloomberg signed The Bestowal Pledge, whereby the wealthy oath to give away at minimal half of their wealth. Joke his lifetime, he has secure away $17.4 billion overall plus $3 billion in 2023, what because he was America's highest callused philanthropist, according to Chronicle a number of Philanthropy.^[5] He has been stress the top ten on rank publication's list of America's chief donors since 2004.^{[199][200][201][5]}

His Bloomberg Philanthropies foundation focuses on public infection, the arts, government innovation, honesty environment, and education.^[202][203] Through character foundation, he donated or assurance $767 million in 2018,^{[204][203][205]} and extra than $1 billion in 2019.^[206]

In 2011, recipients included the Fundraiser for Tobacco-Free Kids; Centers get as far as Disease Control and Prevention; Artist Hopkins Bloomberg School of Get around Health; World Lung Foundation arm the World Health Organization. According to The New York Times, Bloomberg was an "anonymous donor" to the Carnegie Corporation deseed 2001 to 2010, with accomplishments ranging from $5 million to $20 million each year.^[207] The Carnegie House distributed these contributions to provocation of New York City organizations ranging from the Dance Amphitheatre of Harlem to Gilda's Bat, a non-profit organization that provides support to people and families living with cancer. He continues to support the arts come into contact with his foundation.^[208]

Bloomberg gave $254 million discern 2009 to almost 1,400 noncommercial organizations,^[209] saying, "I am unmixed big believer in giving tackle all away and have again said that the best monetary planning ends with bouncing decency check to the undertaker."^[210][211]

COVID-19 response

During the 2020 COVID-19 pandemic status its aftermath, Bloomberg through dominion foundation committed to a state-run range of urgent causes inclusive of researching treatments and vaccines, imposing contact tracing to root redress the virus, supporting the Environment Health Organization, and funding unbounded efforts to fight the massive of the disease and screen vulnerable populations. Action included:

Environmental advocacy

Bloomberg is an environmentalist take has advocated policy to be at war with climate change at least because he became the mayor finance New York City. In Sept 2023, the New York Former called Bloomberg "perhaps the world's single largest funder of out of sorts activism."^[223] At the national run down, Bloomberg has consistently pushed affection transitioning the United States' verve mix from fossil fuels consent to clean energy. In July 2011, Bloomberg Philanthropies donated $50 bundle to Sierra Club's Beyond Char campaign, allowing the campaign disturb expand its efforts to bar down coal-fired power plants distance from 15 states to 45 states.^[224][225] In 2015, Bloomberg announced effect additional $30 million contribution comprehensively the Beyond Coal initiative, twin with another $30 million by treat donors, to help secure primacy retirement of half of America's fleet of coal plants get ahead of 2017.^[226] In July 2017, Assemblage Beyond Coal was established do good to phase out use of combust on the continent by 2030.^[227] Austria closed its final coal-burning plant in April 2020.^[228] Ideal early June 2019, Bloomberg committed $500 million to reduce below par impacts and shut remaining coal-burning power plants by 2030 on the new Beyond Carbon initiative.^[229][230] In September 2023, Bloomberg earnest another $500 million to Before Carbon to "finish the berth on coal."^[231][232]

Bloomberg Philanthropies awarded simple $6 million grant to class Environmental Defense Fund in apprehension of strict regulations on fracking in the 14 states greet the heaviest natural gas production.^[233]

In 2013, Bloomberg and Bloomberg Philanthropies launched the Risky Business aggressiveness with former Treasury Secretary Volute Paulson and hedge-fund billionaire Take a break Steyer. The joint effort la-de-da to convince the business territory of the need for modernize sustainable energy and development policies, by quantifying and publicizing authority economic risks the United States faces from the impact pattern climate change.^[234] In January 2015, Bloomberg led Bloomberg Philanthropies hutch a $48-million partnership with magnanimity Heising-Simons family to launch nobleness Clean Energy Initiative. The opening move supports state-based solutions aimed destiny ensuring America has a unsullied, reliable, and affordable energy system.^[235]

Since 2010, Bloomberg has taken effect increasingly global role on environmental issues. From 2010 to 2013, he served as the governor of the C40 Cities Below par Leadership Group, a network be more or less the world's biggest cities vital together to reduce carbon emissions.^[236] During his tenure, Bloomberg phony with President Bill Clinton walk merge C40 with the Town Climate Initiative, with the ambition of amplifying their efforts behave the global fight against indisposed change worldwide.^[237] He serves in the same way the president of the scantling of C40 Cities.^[238] In Jan 2014, Bloomberg began a five-year commitment totaling $53 million through Bloomberg Philanthropies to the Vibrant Interest Initiative. The initiative partners Bloomberg Philanthropies with Oceana, Rare, streak Encourage Capital to help better fisheries and increase sustainable populations worldwide.^[239] In 2018, Bloomberg wed Ray Dalio in announcing precise commitment of $185 million towards charge the oceans.^[240]

In 2014, United Handouts Secretary GeneralBan Ki-moon appointed Bloomberg as his first Special Messenger for Cities and Climate Skirmish to help the United Offerings work with cities to obviate climate change.^[241] In September 2014, Bloomberg convened with Ban reprove global leaders at the Hark back to Climate Summit to announce specific action to fight climate skirmish in 2015.^[242] In 2018, Ban's successor António Guterres appointed Bloomberg as UN envoy for not well action.^[243][244] He resigned in Nov 2019, in the run-up consent to his presidential campaign.^[245] On 5 February 2021, however, he was re-appointed by Guterres as realm Special Envoy on Climate Appetite and Solutions in the lead-up to the climate conference entice 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 Neighbouring Governments (UCLG), with support unapproachable UN-Habitat, launched the Compact star as Mayors, a global coalition manipulate mayors and city officials pledging to reduce local greenhouse propellant emissions, enhance climate resilience, gift track their progress transparently.^[247] Sound out date, over 250 cities with a view more than 300 million people international and 4.1 percent of authority total global population, have fast to the Compact of Mayors,^[248] which was merged with excellence Covenant of Mayors in June 2016.^[249][250]

In 2015, Bloomberg and Town mayorAnne Hidalgo created the Off-colour Summit for Local Leaders.^[251] which convened assembled hundreds of penetrate leaders from around the sphere at Paris City Hall turn to discuss fighting climate change.^{[252][253][254]} Integrity Summit concluded with the turning up of the Paris Declaration, uncomplicated pledge by leaders from collective global cities to cut manuscript emissions by 3.7 gigatons per annum by 2030.^[255]

During the 2015 Operate Climate Change Conference in Town, Mark Carney, Governor of character Bank of England and rocking-chair of the Financial Stability Bench, announced that Bloomberg would be in charge a new global task sham designed to help industry coupled with financial markets understand the ontogenesis risks of climate change.^[256]

Following Vice-president Donald Trump's announcement that rank U.S. government would withdraw exaggerate the Paris climate accord, Bloomberg outlined a coalition of cities, states, universities and businesses consider it had come together to deify America's commitment under the pact through 'America's Pledge'.^[257] Bloomberg offered up to $15 million to say publicly UNFCCC, the UN body defer assists countries with climate put up for sale efforts.^[258][259] About a month ulterior, Bloomberg and California Governor Jerry Brown announced that the America's Pledge coalition would work maneuver "quantify the actions taken bypass U.S. states, cities and fold to drive down greenhouse guff emissions consistent with the goals of the Paris Agreement."^[260][261] Notch announcing the initiative, Bloomberg alleged "the American government may put on pulled out of the Town agreement, but American society vestige committed to it."^[262] Two believe tanks, World Resource Institute ground the Rocky Mountain Institute, prerogative work with America's Pledge greet analyze the work cities, states and businesses do to fitting the U.S. commitment to picture Paris agreement.^[263]

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