Michael Bloomberg is a businessman, three term mayor of New York City and philanthropist. Bloomberg graduated from Johns Hopkins University with a Bachelor of Science degree in electrical engineering. Following his time at Johns Hopkins, Bloomberg attended Harvard Business School where he received his Master of Business Administration.
Bloomberg became a general partner with Salomon Brothers but once they were bought by Phibro Corporation, Bloomberg was laid off. Bloomberg didn’t walk away empty handed as he was given a $10 million severance package. Michael would take this money and start his own company, Innovative Market Systems. The idea behind the business was to be able to provide Wall Street and other interested financial parties with high quality business information delivered in many different forms as quick as possible. Merrill Lynch became the company’s first customer and invested $30 million into Innovative Market Systems. However, just five years after the company changed its name from Innovative Market Systems to Bloomberg L.P. As of 2012, Bloomberg L.P. has over 310,000 Market Master terminals worldwide.
Bloomberg left the company in 2002 in order to become mayor of New York City. Bloomberg served three terms from 2002 to 2013. Following his tenure as mayor, Bloomberg announced he would return to Bloomberg L.P. but not before taking 8 months as a full-time philanthropist.
As a philanthropist, Michael Bloomberg has his own organization, Bloomberg Philanthropies, and focuses a lot of his efforts on fighting climate change. Looking to shut down coal-fired power plants, Bloomberg donated $50 million through Bloomberg Philanthropies to Sierra Club’s Beyond Coal campaign. Bloomberg into this campaign so much that he pledged another $30 million and would match $30 million by other donors. To support strict regulations on fracking in some of the heaviest natural gas production states, Bloomberg granted $6 million to the Environmental Defense Fund through his organization. In January of 2014, Bloomberg committed $53 million over the course of five years to Vibrant Ocean Initiatives through his organization in order to to curb overfishing and to keep our oceans thriving.