Michael Rubens Bloomberg was born on February 14, 1942 in Medford, Massachusetts into a Jewish-American family.
Bloomberg went to college at Johns Hopkins University and earned a Bachelor of Arts and Science. He took out loans and worked as a parking lot attendant during the summer months to pay for school. Bloomberg went on to Harvard University and earned a MBA in 1966.
Bloomberg is divorced and has two children. His former wife’s name is Susan Brown, and his daughters’ names are Georgina and Emma.
Before Bloomberg went into politics, he first worked on Wall Street. In 1972, he began working at Salomon Brothers. Through hard work he eventually climbed up to a position where he oversaw equity trading and sales before going on to work in information systems.
Bloomberg started his own company, Bloomberg L.P., in 1981. The company “was built around financial information computer that revolutionized the way securities data was stored and consumed”.
“In 1982, Bloomberg L.P. sold 20 subscriptions to its service; 20 years later that figure had multiplied to over 165,000 subscribers worldwide. As the business proved its viability, the company branched out and in 1990 Bloomberg LP entered the media business, launching a news service, and then radio, television, Internet, and publishing operations.”
New York City Mayor
On January 1, 2002, Bloomberg became the 108th Mayor of New York City. Bloomberg took office after Mayor Rudy Giuliani, who could not run again because of term limits.
While originally a Democrat, Bloomberg ran for mayor as a Republican. He felt his lack of political background would cause the Democrats to choose a candidate with a stronger political history within the party. He enjoyed a successful re-election campaign in 2005.
Bloomberg is noted for building on the work of Giuliani. While he has worked to decrease crime in the city, his approach was not as intense as Giuliani’s.
Bloomberg also has done the following for New York:
- Homeland security funding based on the basis of risk and population
- Supported the smoking ban in drinking establishments
- Raised standards in NYC’s public schools
- Created the 311 telephone line that allowed people to get into contact with the city about trash problems, crimes or any other NYC problems
- Combated poverty by launching a program that encouraged work and made work pay
- Balanced the budget and helped lower unemployment
- Created a global warming campaign to make NYC the city with the cleanest air of any major city
In 2009, Bloomberg pushed through legislation that allowed him to stay in office because of the “difficult economic climate”. He stated that his “financial skills warranted his remaining in office”.
Bloomberg spent $90 million of his money to run for his third term. He won in November 2009, 51 percent to 46 percent.
As stated previously, Bloomberg was a Democrat before running for the GOP in the New York Mayoral election. In 2007, he left the Republican Party and became an Independent. While Bloomberg has switched from party to party, he has some very liberal opinions. Bloomberg’s stated he believes in a woman’s right to choose to have an abortion, same-sex marriage and gun control.
2016 Election Potential
If Bloomberg decides to run for president in 2016, he has a long battle ahead of him. Not only will Bloomberg campaign against Republicans, but Democrats, too. His run for mayor in 2009 was controversial to many, and while Democrats didn’t put up much of a fight and didn’t support their candidate who ran against him, they didn’t think much of Bloomberg, either.
Bloomberg’s biggest opponents would be Republican Rudy Giuliani and Democrat Hillary Clinton, if they decide to run.
Although Bloomberg has several political hurdles, he also has the benefit of being a successful Republican Mayor for several terms, which may appeal to some liberal Republicans. His liberal leaning ideas, such as supporting same-sex marriage, could appeal to liberal Democrats.
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