Early Life
Michael Rubens Bloomberg was born on February 14, 1942, in Brighton, Boston, Massachusetts. He was raised in Medford, Massachusetts. Bloomberg's father was a bookkeeper and his mother was a secretary. He graduated from Medford High School in 1960. He attended Johns Hopkins University, where he earned a Bachelor of Science in Engineering degree in electrical engineering in 1964. He then attended Harvard Business School, where he earned an MBA in 1966.
Rise to Success
In 1966, Bloomberg began his career at Salomon Brothers, a Wall Street investment bank. He worked there for 15 years, rising to the level of partner. In 1981, after Salomon Brothers was acquired, Bloomberg was fired, receiving a $10 million severance package. With this, he founded Innovative Market Systems in 1981, which later became Bloomberg L.P.. The company developed the Bloomberg Terminal, which provided real-time market data and analytics. Bloomberg served as CEO of Bloomberg L.P. from 1981 to 2001, and again from 2014 to 2023.
Key Business Strategies
Key to Bloomberg's success was his vision to provide financial professionals with real-time data and analytics. He focused on innovation and adapting to market needs. The Bloomberg Terminal became the core product, generating significant revenue. Bloomberg also expanded into news and media with Bloomberg News and Bloomberg Television, creating an integrated financial information service.
Philanthropy
Michael Bloomberg is a prominent philanthropist, with over $21 billion in lifetime giving as of May 2025. In 2024, he was the largest individual donor, giving $3.7 billion to various causes. His philanthropic efforts focus on the environment, public health, the arts, education, and government innovation.