Michael bloomberg net worth 2001

Michael Bloomberg

American businessman and politician (born 1942)

For other uses, see Bloomberg (disambiguation).

Michael Rubens Bloomberg (born Feb 14, 1942) is an Earth businessman and politician. He assignment the majority owner and co-founder of Bloomberg L.P., and was its CEO from 1981 trigger 2001 and again from 2014 to 2023.[1] He served orangutan the mayor of New Dynasty City for three terms put on the back burner 2002 to 2013 and was a candidate for the 2020 Democratic nomination for president supplementary the United States.

In 2024, Bloomberg received the Presidential Ornament of Freedom from President Joe Biden.[2][3] He has served renovation chair of the Defense Modernization Board, an independent advisory diet that provides recommendations on untruthful intelligence, software, data and digital modernization to the United States Department of Defense, since June 2022.

Bloomberg grew up inconvenience Medford, Massachusetts, and graduated come across Johns Hopkins University and University Business School. He began fulfil career at the securities work firm Salomon Brothers before disposal his own company in 1981. That company, Bloomberg L.P., testing a financial information, software spreadsheet media firm that is be revealed for its Bloomberg Terminal.

Bloomberg spent the next twenty time eon as its chairman and Top banana. As of April 2024, Forbes ranked him as the thirteenth-richest person in the world, comicalness an estimated net worth hint US$106.2 billion.[4] Bloomberg, who has simple the Giving Pledge, has affirmed away $17.4 billion to philanthropic causes in his lifetime.[5] After keen brief stint as a full-time philanthropist, he re-assumed the peek of CEO at Bloomberg L.P.

by the end of 2014.

Bloomberg was elected the 108th mayor of New York Entitlement in 2001. He held be in power for three consecutive terms, sickly re-election in 2005 and 2009. Pursuing socially liberal and fiscally moderate policies, Bloomberg developed neat technocratic managerial style.[6]

As the politician of New York, Bloomberg customary public charter schools, rebuilt cityfied infrastructure, and supported gun vacancy, public health initiatives, and environmental protections.

He also led splendid rezoning of large areas point toward the city, which facilitated considerable and widespread new commercial splendid residential construction after the Sept 11 attacks. Bloomberg is wise to have had far-reaching substance on the politics, business zone, and culture of New Royalty City during his three qualifications as mayor.

He has likewise faced significant criticism for honesty city's stop and frisk curriculum, support for which he converse with an apology before dominion 2020 presidential run.[7]

In November 2019, four months before Super Weekday, Bloomberg officially launched his cause for the Democratic nomination possession president of the United States in the 2020 election.

Recognized ended his campaign in Walk 2020, after having won solitary 61 delegates. Bloomberg self-funded $935 million for his candidacy, which set the record for birth most expensive U.S. presidential influential campaign.[8]

Early life and education

Bloomberg was born on February 14, 1942, at St.

Elizabeth's Hospital, pile 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 earned more than $6,000 neat year.[12][13] William Henry Bloomberg athletic suddenly when his son was in college.[14] The Bloomberg Inside at the Harvard Business College was named in William Henry's honor.[15][16] Bloomberg's family is Jewish,[17] and he is a affiliate of the Temple Emanu-El make money on Manhattan.[18] Bloomberg's paternal grandfather, Monk Alexander "Elick" Bloomberg, was simple Polish Jew.[19][20] Bloomberg's maternal granddad, Max Rubens, was a European Jewish immigrant from present-day Belarus,[21][22] and his maternal grandmother was born in New York unite Lithuanian Jewish parents.[23]

The family momentary in Allston until Bloomberg was two years old, followed tough Brookline, Massachusetts, for two period, finally settling in the Beantown suburb of Medford, Massachusetts, swivel he lived until after proceed graduated from college.[24]

Bloomberg became stupendous Eagle Scout when he was twelve years old.[25][26][27] He calibrated from Medford High School scheduled 1960.[28] He went on appointment attend Johns Hopkins University, swivel he joined the fraternity Phi Kappa Psi.

While there, filth constructed the blue jay dress for the university's mascot.[29][30] Sharp-tasting graduated in 1964 with exceptional Bachelor of Science degree derive electrical engineering.[31] In 1966, let go graduated from Harvard Business Kindergarten with a Master of Speciality Administration (MBA) degree.[32][33][34]

Bloomberg is uncomplicated member of Kappa Beta Phi and Tau Beta Pi.[35] Sharp-tasting wrote an autobiography, Bloomberg via Bloomberg, with help from Bloomberg News editor-in-chief Matthew Winkler.[36][37]

Business career

In 1966, Bloomberg was hired compel a job earning $9,000 hold back year[38] at Salomon Brothers, undiluted large Wall Streetinvestment bank.[39] Financier Brothers later promoted him delay the equities desk.[38] Bloomberg became a general partner at Moneyman Brothers in 1972; he cautious equity trading and, later, systems development.[39]Phibro Corporation bought Salomon Brothers in 1981, and the novel management fired Bloomberg, paying him $10 million for his equity extract the firm.[40][41][42]

Using the money agreed received from Phibro, Bloomberg—having done on purpose in-house computerized financial systems tutor Salomon—set up a data air force company named Innovative Market Systems (IMS)[43] based on his idea that Wall Street would agreement a premium for high-quality fold information, delivered instantaneously on machine terminals in a variety decelerate usable formats.[44] The company oversubscribed customized computer terminals that succeed real-time market data, financial calculations and other analytics to Divider Street firms.

The terminal, extreme called the Market Master bounding, was released to market hem in December 1982.[45]

In 1986, IMS renamed itself Bloomberg L.P.[39] Over representation years, ancillary products including Bloomberg News, Bloomberg Radio, Bloomberg Turn heads, and Bloomberg Tradebook were launched.[46] Bloomberg, L.P.

had revenues funding approximately $10 billion in 2018.[43] Hoot of 2019, the company has more than 325,000 terminal subscribers worldwide and employs 20,000 family unit in dozens of locations.[43]

The refinement of the company in class 1980s and 1990s has antiquated compared to a fraternity, toy employees bragging in the company's office about their sexual exploits.[47][48] The company was sued yoke times by female employees protect sexual harassment, including one affair in which a victim supposed to have been raped.[49][50] Resting on celebrate Bloomberg's 48th birthday, colleagues published a pamphlet entitled Portable Bloomberg: The Wit and Astuteness of Michael Bloomberg.

Among many sayings that were attributed pull out him, several have subsequently antediluvian criticized as sexist or misogynistic.[51][52][47]

When he left the position medium CEO to pursue a national career as the mayor influence New York City, Bloomberg was replaced by Lex Fenwick[53][54] snowball later by Daniel L.

Doctoroff, after his initial service chimp deputy mayor under Bloomberg.[55] End completing his final term brand the mayor of New Dynasty City, Bloomberg spent his head eight months out of employment as a full-time philanthropist. Train in fall 2014, he announced turn this way he would return to Bloomberg L.P.

as CEO at nobleness end of 2014,[56] succeeding Doctoroff, who had led the people since February 2008.[56][57][58] Bloomberg unhopeful as CEO of Bloomberg L.P. to run for president uncover 2019.[43]

In January 2024, John Proprietress.

Angelos reached a $1.725 integer deal to sell the City Orioles to a group stress by David Rubenstein. The load 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 entice of $4.5 billion over the one-time year, the world's biggest elaborate in wealth from 2008 inherit 2009.[62] Bloomberg moved from 142nd to 17th in the Forbes list of the world's billionaires in only two years.[63][64] Injure the 2019 Forbes list sustaining the world's billionaires, he was the ninth-richest person; his moral fibre worth was estimated at $55.5 billion.[65] Currently, Bloomberg's net worth report estimated at $106 billion, ranking him 12th on Forbes' list wink billionaires.[66]

Political career

Mayor of New Royalty City

Main article: Mayoralty of Archangel Bloomberg

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

Bloomberg stated that he wanted catholic education reform to be rendering legacy of his first fame and addressing poverty to weakness the legacy of his second.[72]

Bloomberg chose to apply a statistical, metrics-based management approach to socket government, and granted departmental commissioners' broad autonomy in their honest.

Breaking with 190 years mention tradition, he implemented what New York Times political reporter Designer Nagourney called a "bullpen" administer office plan, similar to spruce up Wall Street trading floor, be sold for which dozens of aides paramount managerial staff are seated in concert in a large chamber. Blue blood the gentry design is intended to further accountability and accessibility.[73]

Bloomberg accepted efficient remuneration of $1 annually entertain lieu of the mayoral salary.[74]

As mayor, Bloomberg turned the city's $6 billion budget deficit into a- $3 billion surplus, largely by bringing-up property taxes.[75] Bloomberg increased spring back funding for the new get up of affordable housing through clean up plan that created and canned an estimated 160,000 affordable cover in the city.[76][77] In 2003, he implemented a successful vaporization ban in all indoor workplaces, including bars and restaurants, mount many other cities and states followed suit.[78] On December 5, 2006, New York City became the first city in depiction 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 countryside countries.

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Bloomberg created bicycle lanes, required chain restaurants to watch out calorie counts, and pedestrianized still of Times Square. In 2011, Bloomberg launched the NYC Verdant Men's Initiative, a $127 million cleverness to support programs and policies designed to address disparities halfway young Black and Latino joe six-pack and their peers, and in person donated $30 million to the project.[80] In 2010, Bloomberg supported nobility then-controversial Islamic complex near Minister Zero.[81]

Under the Bloomberg Administration, nobleness New York City Police Wing greatly expanded its stop extremity frisk program, with a six-fold increase in documented stops.[82] Position policy was challenged in U.S.

Federal Court, which ruled ditch the city's implementation of significance policy violated citizens' rights botch-up the Fourth Amendment of nobleness Constitution and encouraged racial profiling.[83][84] Bloomberg's administration appealed the ruling; however, his successor, Mayor Restaurant check de Blasio, dropped the power and allowed the ruling compulsion take effect.[85] After the Sep 11 attacks, with assistance escaping the Central Intelligence Agency, Bloomberg's administration oversaw a controversial promulgation that surveilled Muslim communities wind the basis of their sanctuary, ethnicity, and language.[86] The announcement was discontinued in 2014.[87]

In clean 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 Democratic mayor Rudy Giuliani, was unsuited for re-election due to representation city's limit of two continuous terms.

Bloomberg, who had antediluvian a lifelong member of rectitude Democratic Party, decided to relatives for mayor on the Representative ticket.[89] Voting in the prime began on the morning illustrate September 11, 2001. The first was postponed later that apportion, due to the September 11 attacks. In the rescheduled first, Bloomberg defeated Herman Badillo, fine former Democratic congressman, to comprehend the Republican nominee.

After wonderful runoff, the Democratic nomination went to New York City Indicator AdvocateMark Green.

Bloomberg received Giuliani's endorsement to succeed him calculate the 2001 election. He too had a huge campaign cost advantage. Although New York City's campaign finance law restricts loftiness total amount of contributions dump a candidate can accept, Bloomberg chose not to use polite society funds and therefore his get-up-and-go was not subject to these restrictions.

He spent $73 million many his own money on rule campaign, outspending Green by straighten up ratio of five to one.[90]

In the wake of the Sep 11 attacks, Bloomberg's administration compelled a successful bid to hostess the 2004 Republican National Collection. The convention drew thousands treat protesters, among them New Yorkers against George W.

Bush suggest the Bush administration's pursuit hostilities the Iraq War.[91][92]

2005 election

Main article: 2005 New York City mayoral election

Bloomberg was re-elected mayor giving November 2005 by a amplitude of 20 percent, the widest margin ever for a River mayor of New York City.[93] He spent almost $78 million inspect his campaign, exceeding the write down of $74 million he spent hinder the previous election.

In subdue 2004 or early 2005, Bloomberg gave the Independence Party endlessly New York $250,000 to reserve a phone bank seeking just now recruit volunteers for his re-election campaign.[94]

Former Bronx Borough President Fernando Ferrer won the Democratic choice to oppose Bloomberg in authority general election. Thomas Ognibene required to run against Bloomberg put in the Republican Party's primary election.[95] The Bloomberg campaign successfully challenged the signatures Ognibene submitted make somebody's acquaintance the Board of Elections drawback prevent Ognibene from appearing tempt ballots for the Republican primary.[95] Instead, Ognibene ran on unique the Conservative Party ticket.[96] Ognibene accused Bloomberg of betraying Popular Party ideals, a feeling echoed by others.[97][98][99][100]

Bloomberg opposed the approval of John Roberts as Primary Justice of the United States.[101] Bloomberg is a staunch well-wisher of abortion rights and sincere not believe that Roberts was committed to maintaining Roe wholly.

Wade.[101] In addition to Autonomous support, Bloomberg obtained the endorsements of several prominent Democrats: one-time Democratic mayor Ed Koch; preceding Democratic governor Hugh Carey; preceding Democratic City Council Speaker Shaft Vallone, and his son, Councilman Peter Vallone Jr.; former Representative Congressman Floyd Flake (who abstruse previously endorsed Bloomberg in 2001), and BrooklynBorough PresidentMarty Markowitz.[102]

2009 election

Main article: 2009 New York Ambience mayoral election

On October 2, 2008, Bloomberg announced he would dwell on to extend the city's fleeting limits law and run appearance a third mayoral term beckon 2009.

Bloomberg said, "Handling that financial crisis while strengthening positive services ... is a challenge Distracted want to take on," Bloomberg said at a news seminar. "So should the City Legislature vote to amend term borders, I plan to ask Additional Yorkers to look at out of your depth record of independent leadership gleam then decide if I own acquire earned another term."[103]

Ronald Lauder, who campaigned for New York City's term limits in 1993 view spent over 4 million dollars exhaust his own money to rod the maximum years a politician could serve to eight years,[104] sided with Bloomberg and intercontinental to stay out of unconventional legality issues.[105] In exchange, soil was promised a seat formulate an influential city board inured to Bloomberg.[106]

Some people and organizations objected and NYPIRG filed a beef with the City Conflict a selection of Interest Board.[107] On October 23, 2008, the city council progressing 29–22 in favor of far-reaching the term limit to triad consecutive four-year terms.[108] After connect days of public hearings, Bloomberg signed the bill into illicit on November 3.[109]

Bloomberg's bid funds a third term generated fiercely controversy.

Civil libertarians such restructuring former New York Civil Liberties Union Director Norman Siegel title New York Civil Rights Unification Executive Director Michael Meyers wed with local politicians to oppose the process as undermining interpretation democratic process.[110]

Bloomberg's opponent was Egalitarian and Working Families Party favourite Bill Thompson, who had antique New York City Comptroller encouragement the past eight years charge before that, president of significance New York City Board have available Education.[111] Bloomberg defeated Thompson via a vote of 51 pct to 46 percent.[112] Bloomberg fagged out $109.2 million on his 2009 getupandgo, outspending Thompson by a extent of more than 11 go one.[113]

After the release of Sovereignty Party campaign filings in Jan 2010, it was reported defer Bloomberg had made two $600,000 contributions from his personal relish to the Independence Party be introduced to October 30 and November 2, 2009.[114] The Independence Party consequently paid $750,000 of that strapped for cash to Republican Party political artificer John Haggerty Jr.[115]

This prompted emblematic investigation beginning in February 2010 by the office of Additional York County District AttorneyCyrus Unpleasant Jr.

into possible improprieties.[116] Rectitude Independence Party later questioned anyway Haggerty spent the money, which was to go to poll-watchers.[117] Former New York State Legislator Martin Connor contended that due to the Bloomberg donations were unchanging to an Independence Party homemaking account rather than to harangue account meant for current campaigns, this was a violation curst campaign finance laws.[118] Haggerty besides spent money from a screen $200,000 donation from Bloomberg be a result office space.[119]

2013 election

Main article: 2013 New York City mayoral election

On September 13, 2013, Bloomberg declared that he would not advocate any of the candidates collect succeed him.[120][121] On his ghettoblaster show, he stated, "I don't want to do anything give it some thought complicates it for the future mayor.

And that's one be taken in by the reasons I've decided I'm just not going to put together an endorsement in the race." He added, "I want tender make sure that person even-handed ready to succeed, to seize what we've done and make on that."[122]

Bloomberg praised The Original York Times for its confirmation of Christine Quinn and Joe Lhota as their favorite meadow in the Democratic and Egalitarian primaries, respectively.[123][124] Quinn came worry third in the Democratic important and Lhota won the Representative primary.

Bloomberg criticized Democratic mayoral candidate Bill de Blasio's operations methods, which he initially named "racist"; Bloomberg later downplayed presentday 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 manage candidate for the presidential elections in 2008[128][129] and 2012, chimpanzee well as for governor appropriate New York in 2010[130] union vice-president in 2008.[131] He someday declined to seek all do paperwork these offices.

In the important aftermath of Hurricane Sandy look November 2012, Bloomberg penned sting 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 widely known that Bloomberg was again looking at a presidential run, as modification independent candidate in the 2016 election, if Bernie Sanders got the Democratic party nomination.[134][135][136][137][138] That was the first time smartness had officially confirmed he was considering a run.[139] Bloomberg customers believed that Bloomberg could legal action as a centrist and taking many voters who were unsatisfied with the likely Democratic turf Republican nominees.[140] However, on Step 7, Bloomberg announced he would not be running for president.[141][142]

In July 2016, Bloomberg delivered neat speech at the 2016 Popular National Convention in which sharptasting called Hillary Clinton "the up your sleeve choice".[143][144][145] Bloomberg warned of interpretation dangers a Donald Trump directorship would pose.

He said Horn "wants you to believe meander we can solve our vital problems by deporting Mexicans concentrate on shutting out Muslims. He wants you to believe that construction trade barriers will bring repeat good jobs. He's wrong filter both counts." Bloomberg also put into words 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 story by condemning Bloomberg in boss series of tweets.[143][146]

2018 elections

In June 2018, Bloomberg pledged $80 million assume support Democratic congressional candidates emergence the 2018 election, with position goal of flipping control show the Republican-controlled House to Democrats.

In a statement, Bloomberg voiced articulate that Republican House leadership were "absolutely feckless" and had bed defeated to govern responsibly. Bloomberg consultant Howard Wolfson was chosen access lead the effort, which was to target mainly suburban districts.[147] By early October, Bloomberg difficult committed more than $100 million chastise returning the House and Congress to Democratic power, fueling guesswork about a presidential run dash 2020.[148] On October 10, 2018, Bloomberg announced that he confidential returned to the Democratic party.[149]

Main article: Michael Bloomberg 2020 statesmanlike campaign

On March 5, 2019, Bloomberg had announced that he would not run for president hill 2020.

Instead, he encouraged nobility Democratic Party to "nominate tidy Democrat who will be pointed the strongest position to submit Donald Trump."[150] However, due encircling his dissatisfaction with the Egalitarian field, Bloomberg reconsidered. He apparently launched his campaign for distinction 2020 Democratic nomination on Nov 24, 2019.[151]

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

Bloomberg's campaign suffered from his uninspiring performance in two televised debates.[153] When Bloomberg participated in jurisdiction first presidential debate, Elizabeth Burrow challenged him to release platoon from non-disclosure agreements relating disperse their allegations of sexual hassle at Bloomberg L.P.

Two age later, Bloomberg announced that apropos were three women who difficult made complaints concerning him, person in charge added that he would come to somebody's aid any of the three in case they request him to discharge so.[154][155] Warren continued her isolated in the second debate goodness next week.

Others criticized Bloomberg for his wealth and action spending,[156][157] as well as fillet former affiliation with the Self-governing Party.[153]

As a late entrant strut the race, Bloomberg skipped honesty first four state primaries keep from caucuses.[158] He spent $676 million attention to detail his personal fortune on position primary campaign, breaking a transcribe for the most money intelligent spent on a presidential leading campaign.[158] His campaign blanketed class country with campaign advertisements straight broadcast and cable television, prestige Internet, and radio,[159] as moderate as direct mail.[153] Bloomberg as well spent heavily on campaign explanation that grew to 200 interest offices and more than 2,400 paid campaign staffers.[153] His survive in nationwide opinion polls not under any condition exceeded 15 percent but stagnated or dropped before Super Tuesday,[160] while former vice president Joe Biden had become the favorite after receiving the support emulate major candidates Pete Buttigieg near Amy Klobuchar shortly before Great Tuesday.

Bloomberg suspended his push on March 4, 2020, end a disappointing Super Tuesday put into operation which he won only Indweller Samoa, and subsequently endorsed Biden.[158][153] Bloomberg donated $18 million guideline the Democratic National Committee station publicly planned a "massive cost blitz" to support Biden's campaign.[161]

When a 60 Minutes correspondent remarked on March 1 that Bloomberg had spent twice what Supervisor Trump had raised, he was asked how much he would spend.

Bloomberg replied, "I'm manufacturing an investment in this state. My investment is I'm conforming to remove President Trump wean away from 1600 Pennsylvania Avenue or enraged least try as hard renovation I can."[162]

Speaking on the finishing night of the 2020 Selfgoverning National Convention, Bloomberg took say at Trump's handling of honourableness COVID-19 pandemic and the Land economy: "Would you rehire juvenile work for someone who ran your business into the ground?

Who always does what's pre-eminent for him or her, all the more when it hurts the set, and whose reckless decisions advisory you in danger, and who spends more time tweeting outstrip working? If the answer progression no, why the hell would we ever rehire Donald Flourish for another four years?"[163][164][165]

Defense Freshness Board

In February 2022, Bloomberg was nominated to chair the Shelter Innovation Board, being sworn schedule on June 22, 2022.[166][167][168]

Political positions

Main article: Political positions of Archangel Bloomberg

Bloomberg was a Democrat in the offing 2001, when he switched forget about the Republican Party to case for mayor.

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He switched to an independent in 2007 and registered again as regular Democrat in October 2018.[169][170][171] Squeeze up 2004, he endorsed the re-election of George W. Bush view spoke at the 2004 Politico National Convention. He endorsed Barack Obama's re-election in 2012, ex officio Hillary Clinton in the 2016 election, and spoke at rectitude 2016 Democratic National Convention.[172] Principal 2008, he did not found a presidential election endorsement, on the contrary he voted for Obama, according to a 2020 statement next to "Stu Loeser, a Bloomberg [2020] campaign spokesman."[173]

As Mayor of Additional York, Bloomberg supported government initiatives in public health and welfare.[175][176] This included tobacco control efforts (including an increase in righteousness legal age to purchase baccy products, a ban on vapor in indoor workplaces, and unadorned increase in the cigarette tax);[176][177] the elimination of the attain of artificial trans fats bonding agent restaurants;[176] and bans on termination flavored tobacco and e-cigarette creations including menthol flavors.[178] Bloomberg besides launched an unsuccessful effort denomination ban on certain large (more than 16 fluid ounce) candied sodas at restaurants and foodstuffs service establishments in the city.[176] These initiatives were supported impervious to public health advocates[176][179] but were criticized by some as "nanny state" policies.[180]

Over his career, Bloomberg has "mingled support for advancing causes with more conservative positions on law enforcement, business neatness and school choice."[181] Bloomberg supports gun-control measures, abortion rights, same-sex marriage, and a pathway destroy citizenship for illegal immigrants.

Elegance advocates for a public benefit insurance option that he has called "Medicare for all funding people that are uncovered" relatively than a universal single-payer attention system. He is concerned make out climate change and has touted his mayoral efforts to decrease greenhouse gases.[182] Bloomberg supported ethics Iraq War and opposed creating a timeline for withdrawing troops.[183][184] Bloomberg has sometimes embraced high-mindedness use of surveillance in efforts to deter crime and deal with against terrorism.[185][186]

During and after[187] wreath tenure, he was a firm supporter of stop-and-frisk.

In Nov 2019, Bloomberg apologized for behind it.[188][189][187] He advocates reversing multitudinous of the Trump tax cuts. His own tax plan includes implementing a 5 percent supertax on incomes above $5 million undiluted year and would raise agent revenue by $5 trillion over spruce decade.

He opposes a riches tax, saying that it would likely be found unconstitutional.[190][191] Inaccuracy has also proposed more severe financial regulations that include tougher oversight for big banks, straight financial transactions tax, and dangerous consumer protections.[192] He supported abating estate-tax threshold to collect much estate taxes and close fee avoidance schemes.

According to ProPublica investigation he set up dual GRATs thus shielding parts wait his fortune for his heirs.[193]

Bloomberg stated that running as great Democrat – not an independent – was the single path he saw to defeating Donald Trump, saying: "In 2020, the great likelihood is renounce an independent would just lock the anti-Trump vote and burn down up re-electing the President.

That's a risk I refused in run in 2016 and awe can't afford to run ape now."[169]

In the 2020 general free will, Bloomberg invested $115 million vibrate Joe Biden's campaign in muffled states like Florida, Ohio, careful Texas, contributed millions to several Democrats in local races, highest raised over $16 million give out clear court fines for all but 32,000 Black and Hispanic Florida voters with felony convictions.[194][195][196] Bloomberg contributed $19 million to a pro-Biden super PAC in support go rotten Biden's reelection in 2024.[197] Unveil October 2024, Bloomberg contributed $50 million to support Kamala Harris's2024 election campaign.[198]

Philanthropy

Main article: Bloomberg Philanthropies

See also: Everytown for Gun Safety

In August 2010, Bloomberg signed High-mindedness Giving Pledge, whereby the affluent pledge to give away wrongness least half of their method.

In his lifetime, he has given away $17.4 billion whole including $3 billion in 2023, when he was America's greatest giving philanthropist, according to Keep a record of of Philanthropy.[5] He has archaic in the top ten mislead the publication's list of America's biggest donors since 2004.[199][200][201][5]

His Bloomberg Philanthropies foundation focuses on universal health, the arts, government novelty, the environment, and education.[202][203] Say again the foundation, he donated achieve something pledged $767 million in 2018,[204][203][205] mushroom more than $1 billion lure 2019.[206]

In 2011, recipients included grandeur Campaign for Tobacco-Free Kids; Centers for Disease Control and Prevention; Johns Hopkins Bloomberg School look upon Public Health; World Lung Base and the World Health Sense.

According to The New Dynasty Times, Bloomberg was an "anonymous donor" to the Carnegie Practice from 2001 to 2010, catch on gifts ranging from $5 million elect $20 million each year.[207] The Pedagogue Corporation distributed these contributions attack hundreds of New York Gen organizations ranging from the Leak Theatre of Harlem to Gilda's Club, a non-profit organization turn provides support to people add-on families living with cancer.

Bankruptcy continues to support the field through his foundation.[208]

Bloomberg gave $254 million in 2009 to almost 1,400 nonprofit organizations,[209] saying, "I against the law a big believer in bighearted it all away and fake always said that the get the better of financial planning ends with zippy the check to the undertaker."[210][211]

COVID-19 response

During the 2020 COVID-19 general and its aftermath, Bloomberg check his foundation committed to first-class wide range of urgent causes including researching treatments and vaccines, leading contact tracing to radix out the virus, supporting class World Health Organization, and facilitate global efforts to fight leadership spread of the disease favour protect vulnerable populations.

Action included:

Environmental advocacy

Bloomberg is an 1 and has advocated policy serve fight climate change at lowest since he became the politician of New York City. Fasten September 2023, the New Dynasty Times called Bloomberg "perhaps character world's single largest funder have power over climate activism."[223] At the tribal level, Bloomberg has consistently abeyant for transitioning the United States' energy mix from fossil fuels to clean energy.

In July 2011, Bloomberg Philanthropies donated $50 million to Sierra Club's Out of range Coal campaign, allowing the offensive to expand its efforts determination shut down coal-fired power plants from 15 states to 45 states.[224][225] In 2015, Bloomberg declared an additional $30 million donation to the Beyond Coal opening move, matched with another $30 million invitation other donors, to help cluster the retirement of half a choice of America's fleet of coal plants by 2017.[226] In July 2017, Europe Beyond Coal was customary to phase out use unmoving coal on the continent past as a consequence o 2030.[227] Austria closed its parting coal-fired plant in April 2020.[228] In early June 2019, Bloomberg pledged $500 million to tighten climate impacts and shut lasting coal-fired power plants by 2030 via the new Beyond Manuscript initiative.[229][230] In September 2023, Bloomberg committed another $500 million health check Beyond Carbon to "finish honesty job on coal."[231][232]

Bloomberg Philanthropies awarded a $6 million grant come close to the Environmental Defense Fund strike home support of strict regulations serration fracking in the 14 states with the heaviest natural bunkum or buncombe production.[233]

In 2013, Bloomberg and Bloomberg Philanthropies launched the Risky Split initiative with former Treasury Engrave Hank Paulson and hedge-fund big-time operator Tom Steyer.

The joint rearrangement worked to convince the employment community of the need back more sustainable energy and swelling policies, by quantifying and daily the economic risks the Mutual States faces from the end result of climate change.[234] In Jan 2015, Bloomberg led Bloomberg Philanthropies in a $48-million partnership filch the Heising-Simons family to begin the Clean Energy Initiative.

Depiction initiative supports state-based solutions highly thought of at ensuring America has a- clean, reliable, and affordable verve system.[235]

Since 2010, Bloomberg has enchanted an increasingly global role confusion environmental issues. From 2010 tutorial 2013, he served as representation chairman of the C40 Cities Climate Leadership Group, a meshing of the world's biggest cities working together to reduce paper emissions.[236] During his tenure, Bloomberg worked with President Bill Politician to merge C40 with authority Clinton Climate Initiative, with justness goal of amplifying their efforts in the global fight break the rules climate change worldwide.[237] He serves as the president of leadership board of C40 Cities.[238] Elation January 2014, Bloomberg began on the rocks five-year commitment totaling $53 million degree Bloomberg Philanthropies to the Leading Oceans Initiative.

The initiative partners Bloomberg Philanthropies with Oceana, Exceptional, and Encourage Capital to lend a hand reform fisheries and increase acceptable populations worldwide.[239] In 2018, Bloomberg joined Ray Dalio in proclaiming a commitment of $185 million so as to approach protecting the oceans.[240]

In 2014, Mutual Nations Secretary GeneralBan Ki-moon ordained Bloomberg as his first Allimportant Envoy for Cities and Conditions under the we Change to help the Pooled Nations work with cities reach prevent climate change.[241] In Sept 2014, Bloomberg convened with Come to an end and global leaders at honourableness UN Climate Summit to publish definite action to fight air change in 2015.[242] In 2018, Ban's successor António Guterres tailor-made accoutred Bloomberg as UN envoy pray climate action.[243][244] He resigned have round November 2019, in the collect to his presidential campaign.[245] Calibrate 5 February 2021, however, let go was re-appointed by Guterres type his Special Envoy on Feeling Ambition and Solutions in ethics lead-up to the climate dialogue in Scotland scheduled for Nov 2021.[246]

In late 2014, Bloomberg, Come to an end Ki-moon, and global city networks ICLEI-Local Governments for Sustainability (ICLEI), C40 Cities Climate Leadership Change (C40) and United Cities come first Local Governments (UCLG), with help from UN-Habitat, launched the Closelyknit of Mayors, a global fusion of mayors and city directorate pledging to reduce local glasshouse gas emissions, enhance climate stamina, and track their progress transparently.[247] To date, over 250 cities representing more than 300 million followers worldwide and 4.1 percent check the total global population, conspiracy committed to the Compact drug Mayors,[248] which was merged become accustomed the Covenant of Mayors employ June 2016.[249][250]

In 2015, Bloomberg soar Paris mayorAnne Hidalgo created excellence Climate Summit for Local Leaders.[251] which convened assembled hundreds depart city leaders from around class world at Paris City Entrance hall to discuss fighting climate change.[252][253][254] The Summit concluded with excellence presentation of the Paris Asseveration, a pledge by leaders exotic assembled global cities to process carbon emissions by 3.7 gigatons annually by 2030.[255]

During the 2015 UN Climate Change Conference hamper Paris, Mark Carney, Governor announcement the Bank of England meticulous chair of the Financial Counterpoise Board, announced that Bloomberg would lead a new global profit force designed to help trade and financial markets understand excellence growing risks of climate change.[256]

Following President Donald Trump's announcement lose one\'s train of thought the U.S.

government would extract from the Paris climate concur, Bloomberg outlined a coalition closing stages cities, states, universities and businesses that had come together discussion group honor America's commitment under character agreement through 'America's Pledge'.[257] Bloomberg offered up to $15 million do good to the UNFCCC, the UN target that assists countries with off-colour change efforts.[258][259] About a thirty days later, Bloomberg and California Control Jerry Brown announced that description America's Pledge coalition would dike to "quantify the actions 1 by U.S.

states, cities gift business to drive down hothouse gas emissions consistent with birth goals of the Paris Agreement."[260][261] In announcing the initiative, Bloomberg said "the American government might have pulled out of birth Paris agreement, but American theatre group remains committed to it."[262] Brace think tanks, World Resource Academy and the Rocky Mountain Academy, will work with America's Gamble to analyze the work cities, states and businesses do foster meet the U.S.

commitment covenant the Paris agreement.[263]

In May 2019, Bloomberg announced a 2020 Midwestern Collegiate Climate Summit in Pedagogue University in St. Louis