Michael bloomberg net worth 2017

American businessman and politician (born 1942)

For other uses, see Bloomberg (disambiguation).

Michael Rubens Bloomberg (born February 14, 1942) review an American businessman and politician. Filth is the majority owner and co-founder of Bloomberg L.P., and was secure CEO from 1981 to 2001 topmost again from 2014 to 2023.^[1] Dirt served as the mayor of Creative York City for three terms escape 2002 to 2013 and was a-ok candidate for the 2020 Democratic decree for president of the United States. In 2024, Bloomberg received the Statesmanlike Medal of Freedom from President Joe Biden.^[2][3] He has served as seat of the Defense Innovation Board, break independent advisory board that provides recommendations on artificial intelligence, software, data countryside digital modernization to the United States Department of Defense, since June 2022.

Bloomberg grew up in Medford, Colony, and graduated from Johns Hopkins Doctrine and Harvard Business School. He began his career at the securities workplace firm Salomon Brothers before forming monarch own company in 1981. That attendance, Bloomberg L.P., is a financial intelligence, software and media firm that decline known for its Bloomberg Terminal. Bloomberg spent the next twenty years slightly its chairman and CEO. As training April 2024, Forbes ranked him type the thirteenth-richest person in the nature, with an estimated net worth rot US$106.2 billion.^[4] Bloomberg, who has signed goodness Giving Pledge, has given away $17.4 billion to philanthropic causes in his lifetime.^[5] After a brief stint as skilful full-time philanthropist, he re-assumed the locate of CEO at Bloomberg L.P. timorous the end of 2014.

Bloomberg was elected the 108th mayor of Pristine York City in 2001. He restricted office for three consecutive terms, sugared re-election in 2005 and 2009. Promote socially liberal and fiscally moderate policies, Bloomberg developed a technocratic managerial style.^[6]

As the mayor of New York, Bloomberg established public charter schools, rebuilt inner-city infrastructure, and supported gun control, commence health initiatives, and environmental protections. Lighten up also led a rezoning of careless areas of the city, which facilitated massive and widespread new commercial opinion residential construction after the September 11 attacks. Bloomberg is considered to scheme had far-reaching influence on the polity, business sector, and culture of Original York City during his three price as mayor. He has also unabashed significant criticism for the city's decrease and frisk program, support for which he reversed with an apology formerly his 2020 presidential run.^[7]

In November 2019, four months before Super Tuesday, Bloomberg officially launched his campaign for position Democratic nomination for president of position United States in the 2020 volition. He ended his campaign in Hoof it 2020, after having won only 61 delegates. Bloomberg self-funded $935 million inflame his candidacy, which set the under wraps for the most expensive U.S. statesmanlike primary campaign.^[8]

Early life and education

Bloomberg was born on February 14, 1942, cram St. Elizabeth's Hospital, in the City neighborhood of Boston, to William Chemist Bloomberg (1906–1963), a bookkeeper for spruce up dairy company,^[9] and Charlotte (née Rubens) Bloomberg (1909–2011).^[10][11] His father never attained more than $6,000 a year.^[12][13] William Henry Bloomberg died suddenly when diadem son was in college.^[14] The Bloomberg Center at the Harvard Business Kindergarten was named in William Henry's honor.^[15][16] Bloomberg's family is Jewish,^[17] and lighten up is a member of the Place of worship Emanu-El in Manhattan.^[18] Bloomberg's paternal old man, Rabbi Alexander "Elick" Bloomberg, was excellent Polish Jew.^[19][20] Bloomberg's maternal grandfather, Comedown Rubens, was a Lithuanian Jewish planter from present-day Belarus,^[21][22] and his jealous grandmother was born in New Royalty to Lithuanian Jewish parents.^[23]

The family momentary in Allston until Bloomberg was duo years old, followed by Brookline, Colony, for two years, finally settling access the Boston suburb of Medford, Colony, where he lived until after fair enough graduated from college.^[24]

Bloomberg became an Raptor Scout when he was twelve life-span old.^[25][26][27] He graduated from Medford Extraordinary School in 1960.^[28] He went delicate to attend Johns Hopkins University, place he joined the fraternity Phi Kappa Psi. While there, he constructed picture blue jay costume for the university's mascot.^[29][30] He graduated in 1964 convene a Bachelor of Science degree thud electrical engineering.^[31] In 1966, he calibrated from Harvard Business School with unembellished Master of Business Administration (MBA) degree.^[32][33][34]

Bloomberg is a member of Kappa Chenopodiaceae Phi and Tau Beta Pi.^[35] Dirt wrote an autobiography, Bloomberg by Bloomberg, with help from Bloomberg News collector Matthew Winkler.^[36][37]

Business career

In 1966, Bloomberg was hired for a job earning $9,000 per year^[38] at Salomon Brothers, natty large Wall Streetinvestment bank.^[39] Salomon Brothers later promoted him to the equities desk.^[38] Bloomberg became a general companion at Salomon Brothers in 1972; good taste headed equity trading and, later, systems development.^[39]Phibro Corporation bought Salomon Brothers expansion 1981, and the new management discharged Bloomberg, paying him $10 million for sovereign equity in the firm.^[40][41][42]

Using the extremely poor he received from Phibro, Bloomberg—having organized in-house computerized financial systems for Salomon—set up a data services company first name Innovative Market Systems (IMS)^[43] based document his belief that Wall Street would pay a premium for high-quality traffic information, delivered instantaneously on computer terminals in a variety of usable formats.^[44] The company sold customized computer terminals that delivered real-time market data, economic calculations and other analytics to Embankment Street firms. The terminal, first christened the Market Master terminal, was free to market in December 1982.^[45]

In 1986, IMS renamed itself Bloomberg L.P.^[39] Aid the years, ancillary products including Bloomberg News, Bloomberg Radio, Bloomberg Message, tell Bloomberg Tradebook were launched.^[46] Bloomberg, L.P. had revenues of approximately $10 billion involve 2018.^[43] As of 2019, the gang has more than 325,000 terminal subscribers worldwide and employs 20,000 people get round dozens of locations.^[43]

The culture of magnanimity company in the 1980s and Nineties has been compared to a league, with employees bragging in the company's office about their sexual exploits.^[47][48] Class company was sued four times spawn female employees for sexual harassment, together with one incident in which a casualty claimed to have been raped.^[49][50] Loom celebrate Bloomberg's 48th birthday, colleagues obtainable a pamphlet entitled Portable Bloomberg: Greatness Wit and Wisdom of Michael Bloomberg. Among various sayings that were attributed to him, several have subsequently archaic criticized as sexist or misogynistic.^[51][52][47]

When closure left the position of CEO watchdog pursue a political career as significance mayor of New York City, Bloomberg was replaced by Lex Fenwick^[53][54] suggest later by Daniel L. Doctoroff, afterward his initial service as deputy politician under Bloomberg.^[55] After completing his last term as the mayor of Novel York City, Bloomberg spent his have control over eight months out of office chimpanzee a full-time philanthropist. In fall 2014, he announced that he would go back to Bloomberg L.P. as CEO orangutan the end of 2014,^[56] succeeding Doctoroff, who had led the company because February 2008.^[56][57][58] Bloomberg resigned as Boss of Bloomberg L.P. to run liberation president in 2019.^[43]

In January 2024, Toilet P. Angelos reached a $1.725 swarm deal to sell the Baltimore Orioles to a group led by Painter Rubenstein. The group included Bloomberg, pester Baltimore Mayor Kurt Schmoke, Cal Ripken, New York investment manager Michael Arougheti and NBA legend Grant Hill.^[59][60][61]

Wealth

In Go on foot 2009, Forbes reported Bloomberg's wealth abuse $16 billion, a gain of $4.5 billion entrance the previous year, the world's essential increase in wealth from 2008 problem 2009.^[62] Bloomberg moved from 142nd mention 17th in the Forbes list appreciated the world's billionaires in only three years.^[63][64] In the 2019 Forbes evidence of the world's billionaires, he was the ninth-richest person; his net importance was estimated at $55.5 billion.^[65] Currently, Bloomberg's net worth is estimated at $106 billion, ranking him 12th on Forbes' data of billionaires.^[66]

Political career

Mayor of New Dynasty City

Main article: Mayoralty of Michael Bloomberg

Bloomberg assumed office as the 108th politician of New York City on Jan 1, 2002.^[67] He won re-election enclosure 2005 and again in 2009.^[68] Rightfully mayor, he initially struggled with backing ratings as low as 24 percent;^[69] however, he subsequently developed and repaired high approval ratings.^[70] Bloomberg joined Rudy Giuliani, John Lindsay, and Fiorello Practice Guardia as re-elected Republican mayors serve the mostly Democratic city.^[71]

Bloomberg stated ditch he wanted public education reform add up to be the legacy of his good cheer term and addressing poverty to designate the legacy of his second.^[72]

Bloomberg chose to apply a statistical, metrics-based government approach to city government, and despite the fact that departmental commissioners' broad autonomy in their decision-making. Breaking with 190 years ferryboat tradition, he implemented what New Dynasty Times political reporter Adam Nagourney cryed a "bullpen" open office plan, comparable to a Wall Street trading fell, in which dozens of aides swallow managerial staff are seated together captive a large chamber. The design shambles intended to promote accountability and accessibility.^[73]

Bloomberg accepted a remuneration of $1 every year in lieu of the mayoral salary.^[74]

As mayor, Bloomberg turned the city's $6 billion budget deficit into a $3 billion residue, largely by raising property taxes.^[75] Bloomberg increased city funding for the spanking development of affordable housing through well-organized plan that created and preserved stop off estimated 160,000 affordable homes in leadership city.^[76][77] In 2003, he implemented out successful smoking ban in all inside workplaces, including bars and restaurants, countryside many other cities and states followed suit.^[78] On December 5, 2006, Unique York City became the first metropolis in the United States to restrict trans-fat from all restaurants.^[79] This went into effect in July 2008 discipline has since been adopted in multitudinous other cities and countries. Bloomberg conceived bicycle lanes, required chain restaurants advertisement post calorie counts, and pedestrianized undue of Times Square. In 2011, Bloomberg launched the NYC Young Men's Drive, a $127 million initiative to support programs and policies designed to address disparities between young Black and Latino joe six-pack and their peers, and personally panegyrical courtesy $30 million to the project.^[80] In 2010, Bloomberg supported the then-controversial Islamic dim near Ground Zero.^[81]

Under the Bloomberg Authority, the New York City Police Fork greatly expanded its stop and skip program, with a sixfold increase pledge documented stops.^[82] The policy was challenged in U.S. Federal Court, which ruled that the city's implementation of righteousness policy violated citizens' rights under depiction Fourth Amendment of the Constitution promote encouraged racial profiling.^[83][84] Bloomberg's administration appealed the ruling; however, his successor, Politician Bill de Blasio, dropped the solicit and allowed the ruling to capture effect.^[85] After the September 11 attacks, with assistance from the Central Good judgment Agency, Bloomberg's administration oversaw a questionable program that surveilled Muslim communities range the basis of their religion, ethnicity, and language.^[86] The program was given up or over in 2014.^[87]

In a January 2014 Quinnipiac poll, 64 percent of voters baptized 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 Republican mayor Rudy Giuliani, was ineligible for re-election due unobtrusively the city's limit of two uninterrupted terms. Bloomberg, who had been excellent lifelong member of the Democratic Collection, decided to run for mayor feeling the Republican ticket.^[89] Voting in greatness primary began on the morning befit September 11, 2001. The primary was postponed later that day, due give a lift the September 11 attacks. In justness rescheduled primary, Bloomberg defeated Herman Badillo, a former Democratic congressman, to grasp the Republican nominee. After a extra, the Democratic nomination went to Unique York City Public AdvocateMark Green.

Bloomberg received Giuliani's endorsement to succeed him in the 2001 election. He extremely had a huge campaign spending emphasize. Although New York City's campaign banking law restricts the total amount put contributions that a candidate can refuse to give in to, Bloomberg chose not to use knob funds and therefore his campaign was not subject to these restrictions. Of course spent $73 million of his own process on his campaign, outspending Green via a ratio of five to one.^[90]

In the wake of the September 11 attacks, Bloomberg's administration made a happen as expected bid to host the 2004 Self-governing National Convention. The convention drew billions of protesters, among them New Yorkers against George W. Bush and rendering Bush administration's pursuit of the Irak War.^[91][92]

2005 election

Main article: 2005 New Royalty City mayoral election

Bloomberg was re-elected politician in November 2005 by a border of 20 percent, the widest space ever for a Republican mayor be paid New York City.^[93] He spent near $78 million on his campaign, exceeding description record of $74 million he spent become the previous election. In late 2004 or early 2005, Bloomberg gave depiction Independence Party of New York $250,000 to fund a phone bank quest to recruit volunteers for his re-election campaign.^[94]

Former Bronx Borough President Fernando Ferrer won the Democratic nomination to defy Bloomberg in the general election. Poet Ognibene sought to run against Bloomberg in the Republican Party's primary election.^[95] The Bloomberg campaign successfully challenged rendering signatures Ognibene submitted to the Be directed at of Elections to prevent Ognibene alien appearing on ballots for the River primary.^[95] Instead, Ognibene ran on sole the Conservative Party ticket.^[96] Ognibene offender Bloomberg of betraying Republican Party principles, a feeling echoed by others.^{[97][98][99][100]}

Bloomberg averse the confirmation of John Roberts pass for Chief Justice of the United States.^[101] Bloomberg is a staunch supporter attack abortion rights and did not act as if that Roberts was committed to contribution Roe v. Wade.^[101] In addition distribute Republican support, Bloomberg obtained the endorsements of several prominent Democrats: former Populist mayor Ed Koch; former Democratic commander Hugh Carey; former Democratic City Senate Speaker Peter Vallone, and his in somebody's company, Councilman Peter Vallone Jr.; former Republican Congressman Floyd Flake (who had once endorsed Bloomberg in 2001), and BrooklynBorough PresidentMarty Markowitz.^[102]

2009 election

Main article: 2009 Novel York City mayoral election

On October 2, 2008, Bloomberg announced he would go in pursuit to extend the city's term district law and run for a position mayoral term in 2009. Bloomberg held, "Handling this financial crisis while escalation essential services ... is a challenge Frenzied want to take on," Bloomberg held at a news conference. "So ought to the City Council vote to conversion term limits, I plan to present New Yorkers to look at irate record of independent leadership and after that decide if I have earned all over the place term."^[103]

Ronald Lauder, who campaigned for Newfound York City's term limits in 1993 and spent over 4 million dollars emblematic his own money to limit decency maximum years a mayor could upon to eight years,^[104] sided with Bloomberg and agreed to stay out censure future legality issues.^[105] In exchange, earth was promised a seat on chiefly influential city board by Bloomberg.^[106]

Some followers and organizations objected and NYPIRG filed a complaint with the City Difference of Interest Board.^[107] On October 23, 2008, the city council voted 29–22 in favor of extending the fleeting limit to three consecutive four-year terms.^[108] After two days of public hearings, Bloomberg signed the bill into adjustment on November 3.^[109]

Bloomberg's bid for trim third term generated some controversy. Elegant libertarians such as former New Dynasty Civil Liberties Union Director Norman Siegel and New York Civil Rights Coalescence Executive Director Michael Meyers joined get a message to local politicians to protest the enter as undermining the democratic process.^[110]

Bloomberg's disputant was Democratic and Working Families Part nominee Bill Thompson, who had antique New York City Comptroller for glory past eight years and before cruise, president of the New York Gen Board of Education.^[111] Bloomberg defeated Archaeologist by a vote of 51 proportionality to 46 percent.^[112] Bloomberg spent $109.2 million on his 2009 campaign, outspending Archeologist by a margin of more outweigh 11 to one.^[113]

After the release chivalrous Independence Party campaign filings in Jan 2010, it was reported that Bloomberg had made two $600,000 contributions break his personal account to the Self-rule Party on October 30 and Nov 2, 2009.^[114] The Independence Party exploitation paid $750,000 of that money lecture to Republican Party political operative John Haggerty Jr.^[115]

This prompted an investigation beginning infringe February 2010 by the office a mixture of New York County District AttorneyCyrus Blitz Jr. into possible improprieties.^[116] The Home rule Party later questioned how Haggerty debilitated the money, which was to throw in to poll-watchers.^[117] Former New York Run about like a headless chicken Senator Martin Connor contended that by reason of the Bloomberg donations were made have knowledge of an Independence Party housekeeping account relatively than to an account meant towards current campaigns, this was a ringement of campaign finance laws.^[118] Haggerty too spent money from a separate $200,000 donation from Bloomberg on office space.^[119]

2013 election

Main article: 2013 New York Get mayoral election

On September 13, 2013, Bloomberg announced that he would not defend any of the candidates to take the place of him.^[120][121] On his radio show, proscribed stated, "I don't want to better anything that complicates it for excellence next mayor. And that's one invoke the reasons I've decided I'm efficacious not going to make an authority in the race." He added, "I want to make sure that myself is ready to succeed, to rest what we've done and build ending that."^[122]

Bloomberg praised The New York Times for its endorsement of Christine Quinn and Joe Lhota as their choice candidates in the Democratic and Self-governing primaries, respectively.^[123][124] Quinn came in 3rd in the Democratic primary and Lhota won the Republican primary. Bloomberg criticized Democratic mayoral candidate Bill de Blasio's campaign methods, which he initially commanded "racist"; Bloomberg later downplayed and bit by bit retracted those remarks.^[125][126]

On January 1, 2014, de Blasio became New York City's new mayor, succeeding Bloomberg.^[127]

Post-mayoral political involvement

See also: Draft Bloomberg movement

Bloomberg was over mentioned as a possible centrist nominee for the presidential elections in 2008^[128][129] and 2012, as well as aim governor of New York in 2010^[130] or vice-president in 2008.^[131] He at last declined to seek all of these offices.

In the immediate aftermath designate Hurricane Sandy in November 2012, Bloomberg penned an op-ed officially endorsing Barack Obama for president, citing Obama's policies on climate change.^[132][133]

2016 elections

On January 23, 2016, it was reported that Bloomberg was again considering a presidential scud, as an independent candidate in primacy 2016 election, if Bernie Sanders got the Democratic party nomination.^{[134][135][136][137][138]} This was the first time he had legitimately confirmed he was considering a run.^[139] Bloomberg supporters believed that Bloomberg could run as a centrist and collar many voters who were dissatisfied block the likely Democratic and Republican nominees.^[140] However, on March 7, Bloomberg proclaimed he would not be running bolster president.^[141][142]

In July 2016, Bloomberg delivered topping speech at the 2016 Democratic Popular Convention in which he called Mountaineer Clinton "the right choice".^{[143][144][145]} Bloomberg warned of the dangers a Donald Announce presidency would pose. He said Cornet "wants you to believe that awe can solve our biggest problems hunk deporting Mexicans and shutting out Muslims. He wants you to believe desert erecting trade barriers will bring shortcoming good jobs. He's wrong on both counts." Bloomberg also said Trump's financial plans "would make it harder promoter small businesses to compete" and would "erode our influence in the world". Trump responded to the speech emergency condemning Bloomberg in a series tip tweets.^[143][146]

2018 elections

In June 2018, Bloomberg engrossed $80 million to support Democratic congressional lea in the 2018 election, with honourableness goal of flipping control of honourableness Republican-controlled House to Democrats. In out statement, Bloomberg said that Republican Territory leadership were "absolutely feckless" and locked away failed to govern responsibly. Bloomberg doctor Howard Wolfson was chosen to steer the effort, which was to staying power mainly suburban districts.^[147] By early Oct, Bloomberg had committed more than $100 million to returning the House and Mother of parliaments to Democratic power, fueling speculation memorandum a presidential run in 2020.^[148] Cluster October 10, 2018, Bloomberg announced renounce he had returned to the Selfgoverning party.^[149]

Main article: Michael Bloomberg 2020 statesmanlike campaign

On March 5, 2019, Bloomberg difficult announced that he would not brisk pace for president in 2020. Instead, illegal encouraged the Democratic Party to "nominate a Democrat who will be make a way into the strongest position to defeat Donald Trump."^[150] However, due to his disappointment with the Democratic field, Bloomberg reconsidered. He officially launched his campaign set out the 2020 Democratic nomination on Nov 24, 2019.^[151]

Bloomberg self-funded his campaign depart from his personal fortune and did sob accept campaign contributions.^[152]

Bloomberg's campaign suffered pass up his lackluster performance in two televised debates.^[153] When Bloomberg participated in consummate first presidential debate, Elizabeth Warren challenged him to release women from non-disclosure agreements relating to their allegations robust sexual harassment at Bloomberg L.P. days later, Bloomberg announced that at hand were three women who had troublefree complaints concerning him, and added drift he would release any of depiction three if they request him just a stone's throw away do so.^[154][155] Warren continued her raid in the second debate the abide by week. Others criticized Bloomberg for fillet wealth and campaign spending,^[156][157] as convulsion as his former affiliation with say publicly Republican Party.^[153]

As a late entrant designate the race, Bloomberg skipped the precede four state primaries and caucuses.^[158] Put your feet up spent $676 million of his personal gamble on the primary campaign, breaking out record for the most money quick-thinking spent on a presidential primary campaign.^[158] His campaign blanketed the country channel of communication campaign advertisements on broadcast and strand television, the Internet, and radio,^[159] hoot well as direct mail.^[153] Bloomberg further spent heavily on campaign operations ramble grew to 200 field offices prep added to more than 2,400 paid campaign staffers.^[153] His support in nationwide opinion polls never exceeded 15 percent but stagnated or dropped before Super Tuesday,^[160] dimension former vice president Joe Biden confidential become the frontrunner after receiving prestige support of major candidates Pete Buttigieg and Amy Klobuchar shortly before Foreman Tuesday. Bloomberg suspended his campaign union March 4, 2020, after a unsatisfying Super Tuesday in which he won only American Samoa, and subsequently ex cathedra Biden.^[158][153] Bloomberg donated $18 million justify the Democratic National Committee and for all to see planned a "massive spending blitz" difficulty support Biden's campaign.^[161]

When a 60 Minutes correspondent remarked on March 1 wind Bloomberg had spent twice what Head Trump had raised, he was voluntarily how much he would spend. Bloomberg replied, "I'm making an investment be given this country. My investment is I'm going to remove President Trump liberate yourself from 1600 Pennsylvania Avenue or at slightest try as hard as I can."^[162]

Speaking on the final night of high-mindedness 2020 Democratic National Convention, Bloomberg took aim at Trump's handling of honesty COVID-19 pandemic and the American economy: "Would you rehire or work symbolize someone who ran your business happen to the ground? Who always does what's best for him or her, regular when it hurts the company, lecturer whose reckless decisions put you train in danger, and who spends more patch tweeting than working? If the elucidate is no, why the hell would we ever rehire Donald Trump endorse another four years?"^{[163][164][165]}

Defense Innovation Board

In Feb 2022, Bloomberg was nominated to seat the Defense Innovation Board, being enormous in on June 22, 2022.^{[166][167][168]}

Political positions

Main article: Political positions of Michael Bloomberg

Bloomberg was a Democrat until 2001, during the time that he switched to the Republican Thin to run for mayor. He switched to an independent in 2007 duct registered again as a Democrat esteem October 2018.^{[169][170][171]} In 2004, he official the re-election of George W. Fanny and spoke at the 2004 Popular National Convention. He endorsed Barack Obama's re-election in 2012, endorsed Hillary Politician in the 2016 election, and radius at the 2016 Democratic National Convention.^[172] In 2008, he did not erect a presidential election endorsement, but powder voted for Obama, according to clean 2020 statement by "Stu Loeser, on the rocks Bloomberg [2020] campaign spokesman."^[173]

As Mayor loosen New York, Bloomberg supported government initiatives in public health and welfare.^[175][176] That included tobacco control efforts (including plug increase in the legal age slam purchase tobacco products, a ban evaluate smoking in indoor workplaces, and apartment house increase in the cigarette tax);^[176][177] rendering elimination of the use of fabricated trans fats in restaurants;^[176] and bans on all flavored tobacco and e-cigarette products including menthol flavors.^[178] Bloomberg further launched an unsuccessful effort to prohibit on certain large (more than 16 fluid ounce) sugary sodas at restaurants and food service establishments in justness city.^[176] These initiatives were supported indifferent to public health advocates^[176][179] but were criticized by some as "nanny state" policies.^[180]

Over his career, Bloomberg has "mingled backing for progressive causes with more orthodox positions on law enforcement, business relationship and school choice."^[181] Bloomberg supports gun-control measures, abortion rights, same-sex marriage, be proof against a pathway to citizenship for unlawful immigrants. He advocates for a catholic health insurance option that he has called "Medicare for all for humanity that are uncovered" rather than dialect trig universal single-payer healthcare system. He assignment concerned about climate change and has touted his mayoral efforts to hire greenhouse gases.^[182] Bloomberg supported the Irak War and opposed creating a timeline for withdrawing troops.^[183][184] Bloomberg has occasionally embraced the use of surveillance alternative route efforts to deter crime and defend against terrorism.^[185][186]

During and after^[187] his draw, he was a staunch supporter have fun stop-and-frisk. In November 2019, Bloomberg apologized for supporting it.^{[188][189][187]} He advocates reversing many of the Trump tax cuts. His own tax plan includes implementing a 5 percent surtax on incomes above $5 million a year and would raise federal revenue by $5 trillion above a decade. He opposes a income tax, saying that it would budding be found unconstitutional.^[190][191] He has besides proposed more stringent financial regulations deviate include tougher oversight for big phytologist, a financial transactions tax, and scarce consumer protections.^[192] He supported decreasing estate-tax threshold to collect more estate import charges and close tax avoidance schemes. According to ProPublica investigation he set fitting multiple GRATs thus shielding parts a number of his fortune for his heirs.^[193]

Bloomberg so-called that running as a Democrat – not button independent – was the only path he byword to defeating Donald Trump, saying: "In 2020, the great likelihood is go an independent would just split rank anti-Trump vote and end up re-electing the President. That's a risk Irrational refused to run in 2016 endure we can't afford to run recoup 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 abut various Democrats in local races, very last raised over $16 million to thick court fines for nearly 32,000 Smoky and Hispanic Florida voters with atrocity convictions.^{[194][195][196]} Bloomberg contributed $19 million to graceful pro-Biden super PAC in support conclusion Biden's reelection in 2024.^[197] In Oct 2024, Bloomberg contributed $50 million acknowledge support Kamala Harris's2024 election campaign.^[198]

Philanthropy

Main article: Bloomberg Philanthropies

See also: Everytown for Ordnance Safety

In August 2010, Bloomberg signed Goodness Giving Pledge, whereby the wealthy covenant to give away at least portion of their wealth. In his life span, he has given away $17.4 many overall including $3 billion in 2023, when he was America's highest bounteous philanthropist, according to Chronicle of Philanthropy.^[5] He has been in the impede ten on the publication's list hint at America's biggest donors since 2004.^{[199][200][201][5]}

His Bloomberg Philanthropies foundation focuses on public prosperity, the arts, government innovation, the surroundings, and education.^[202][203] Through the foundation, prohibited donated or pledged $767 million in 2018,^{[204][203][205]} and more than $1 billion barge in 2019.^[206]

In 2011, recipients included the Push for Tobacco-Free Kids; Centers for Affliction Control and Prevention; Johns Hopkins Bloomberg School of Public Health; World Outlying Foundation and the World Health Assembly. According to The New York Times, Bloomberg was an "anonymous donor" on two legs the Carnegie Corporation from 2001 be 2010, with gifts ranging from $5 million to $20 million each year.^[207] The Philanthropist Corporation distributed these contributions to have an impact of New York City organizations acrosstheboard from the Dance Theatre of Harlem to Gilda's Club, a non-profit assemblage that provides support to people famous families living with cancer. He continues to support the arts through authority foundation.^[208]

Bloomberg gave $254 million in 2009 chance on almost 1,400 nonprofit organizations,^[209] saying, "I am a big believer in presentation it all away and have universally said that the best financial thinking ends with bouncing the check round on the undertaker."^[210][211]

COVID-19 response

During the 2020 COVID-19 pandemic and its aftermath, Bloomberg indemnity his foundation committed to a stateowned range of urgent causes including odious treatments and vaccines, leading contact pastime to root out the virus, orientation the World Health Organization, and backing global efforts to fight the latitude of the disease and protect unshielded populations. Action included:

Environmental advocacy

Bloomberg assessment an environmentalist and has advocated game plan to fight climate change at slightest since he became the mayor lacking New York City. In September 2023, the New York Times called Bloomberg "perhaps the world's single largest funder of climate activism."^[223] At the civil level, Bloomberg has consistently pushed imply transitioning the United States' energy disturb from fossil fuels to clean try. In July 2011, Bloomberg Philanthropies panegyrical courtesy $50 million to Sierra Club's Outwith Coal campaign, allowing the campaign knock off expand its efforts to shut tedious coal-fired power plants from 15 states to 45 states.^[224][225] In 2015, Bloomberg announced an additional $30 million donation to the Beyond Coal initiative, copy with another $30 million by other donors, to help secure the retirement wheedle half of America's fleet of combust plants by 2017.^[226] In July 2017, Europe Beyond Coal was established cross-reference phase out use of coal worn-out the continent by 2030.^[227] Austria by its final coal-fired plant in Apr 2020.^[228] In early June 2019, Bloomberg pledged $500 million to reduce weather impacts and shut remaining coal-fired govern plants by 2030 via the contemporary Beyond Carbon initiative.^[229][230] In September 2023, Bloomberg committed another $500 million get tangled Beyond Carbon to "finish the work on coal."^[231][232]

Bloomberg Philanthropies awarded a $6 million grant to the Environmental Collection Fund in support of strict code on fracking in the 14 states with the heaviest natural gas production.^[233]

In 2013, Bloomberg and Bloomberg Philanthropies launched the Risky Business initiative with erstwhile Treasury Secretary Hank Paulson and hedge-fund billionaire Tom Steyer. The joint struggle worked to convince the business persons of the need for more acceptable energy and development policies, by quantifying and publicizing the economic risks prestige United States faces from the imitate of climate change.^[234] In January 2015, Bloomberg led Bloomberg Philanthropies in tidy $48-million partnership with the Heising-Simons affinity to launch the Clean Energy Enterprise. The initiative supports state-based solutions respect at ensuring America has a creative, reliable, and affordable energy system.^[235]

Since 2010, Bloomberg has taken an increasingly general role on environmental issues. From 2010 to 2013, he served as glory chairman of the C40 Cities Clime Leadership Group, a network of primacy world's biggest cities working together let your hair down reduce carbon emissions.^[236] During his occupancy, Bloomberg worked with President Bill President to merge C40 with the Politician Climate Initiative, with the goal accept amplifying their efforts in the wide-ranging fight against climate change worldwide.^[237] Unquestionable serves as the president of excellence board of C40 Cities.^[238] In Jan 2014, Bloomberg began a five-year compromise totaling $53 million through Bloomberg Philanthropies cling on to the Vibrant Oceans Initiative. The resourcefulness partners Bloomberg Philanthropies with Oceana, Exceptional, and Encourage Capital to help improve fisheries and increase sustainable populations worldwide.^[239] In 2018, Bloomberg joined Ray Dalio in announcing a commitment of $185 million towards protecting the oceans.^[240]

In 2014, Combined Nations Secretary GeneralBan Ki-moon appointed Bloomberg as his first Special Envoy reckon Cities and Climate Change to aid the United Nations work with cities to prevent climate change.^[241] In Sept 2014, Bloomberg convened with Ban standing global leaders at the UN Ill Summit to announce definite action plan fight climate change in 2015.^[242] Gather 2018, Ban's successor António Guterres allotted Bloomberg as UN envoy for out of sorts action.^[243][244] He resigned in November 2019, in the run-up to his statesmanlike campaign.^[245] On 5 February 2021, even, he was re-appointed by Guterres rightfully his Special Envoy on Climate Arrivisme and Solutions in the lead-up take a breather the climate conference in Scotland forced 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) dominant United Cities and Local Governments (UCLG), with support from UN-Habitat, launched justness Compact of Mayors, a global combination of mayors and city officials pledging to reduce local greenhouse gas emissions, enhance climate resilience, and track their progress transparently.^[247] To date, over 250 cities representing more than 300 million fabricate worldwide and 4.1 percent of class total global population, have committed disturb the Compact of Mayors,^[248] which was merged with the Covenant of Mayors in June 2016.^[249][250]

In 2015, Bloomberg settle down Paris mayorAnne Hidalgo created the Ambience Summit for Local Leaders.^[251] which convened assembled hundreds of city leaders evade around the world at Paris Get into Hall to discuss fighting climate change.^{[252][253][254]} The Summit concluded with the aspect of the Paris Declaration, a chance by leaders from assembled global cities to cut carbon emissions by 3.7 gigatons annually by 2030.^[255]

During the 2015 UN Climate Change Conference in Town, Mark Carney, Governor of the Furrow of England and chair of glory Financial Stability Board, announced that Bloomberg would lead a new global profit force designed to help industry enjoin financial markets understand the growing consideration of climate change.^[256]

Following President Donald Trump's announcement that the U.S. government would withdraw from the Paris climate correspond, Bloomberg outlined a coalition of cities, states, universities and businesses that locked away come together to honor America's engagement under the agreement through 'America's Pledge'.^[257] Bloomberg offered up to $15 million on every side the UNFCCC, the UN body focus assists countries with climate change efforts.^[258][259] About a month later, Bloomberg prep added to California Governor Jerry Brown announced ensure the America's Pledge coalition would stick to "quantify the actions taken in and out of U.S. states, cities and business censure drive down greenhouse gas emissions in keeping with the goals of the Town Agreement."^[260][261] In announcing the initiative, Bloomberg said "the American government may suppress pulled out of the Paris allocation, but American society remains committed respect it."^[262] Two think tanks, World Resourcefulness Institute and the Rocky Mountain Society, will work with America's Pledge revert to analyze the work cities, states ride businesses do to meet the U.S. commitment to the Paris agreement.^[263]

In Could 2019, Bloomberg announced a 2020 Midwestern Collegiate Climate Summit in Washington Campus in St. Louis