Michael Bloomberg: The World’s Ninth Richest Man Who Tried To Run For President
Even as a child growing up in Medford, Massachusetts, a suburban town near Boston, just at the edge of cosmopolitanism, Michael Bloomberg was keen to be a man in charge.
“He wanted to be the boss of whatever we were working on,” his late mother Charlotte recalled to a biographer in 2009. “He wanted to run everything.”
At 78, Mr Bloomberg has been the boss of many things – the chief executive of a financial data firm, the mayor of America’s most populous city, the head of a national gun control group, the founder of a news service that bears his name.
Speculation over whether the technocratic billionaire would one day run for president of the United States had been rife since his entry into politics in 2001, when he won the New York mayoral race as a Republican.
After pursuing progressive policies as a philanthropist in his post-mayoral life, he entered the 2020 Democratic primary and spent nearly $500m of his own fortune in an effort to prove to voters that as one of the richest men in the world, he was the only candidate who could beat Donald Trump.
But after failing to win a single state, and only gathering a handful of delegates, he dropped out of the race and threw his weight behind former Vice-President Joe Biden.
Policy The Bloomberg Way
On a national level, there is arguably no issue more closely associated with Mr. Bloomberg than gun control. Nor does any other issue better capture the tension between his preference for data-driven, incremental, top-down strategy and the surges of ambitious activism that have increasingly defined American politics.
It was a cause he embraced after winning re-election as mayor. On New Years Day 2006, Mr. Bloomberg declared in his inaugural address that he saw an urgent duty to rid our streets of guns, and punish all those who possess and traffic in these instruments of death.
That April, he convened a Gracie Mansion summit of 15 mayors from across the country, marking the beginning of Mayors Against Illegal Guns, which within a few short months included more than 100 civic leaders from 44 states.
Soon enough, Mr. Bloomberg ramped up his spending on politics beyond New York. Frustrated at the flow of firearms from Virginia, a state with lax gun laws, Mr. Bloomberg tried to buoy candidates in the states 2011 elections who shared his views.
Then, in 2013, he received a visitor in New York: Mr. McAuliffe, by then a candidate for governor of Virginia. He proposed to Mr. Bloomberg that he make the state a decade-long priority, with an eye toward empowering Democratic supporters of gun regulation.
I walked out with a multimillion-dollar commitment that day, Mr. McAuliffe recalled.
From Modest Roots To Moneyed Man
Mr Bloomberg was born in 1942 into a middle-class family – the son of a book-keeper.
After studying engineering at Johns Hopkins University in Baltimore, he got his first job on Wall Street upon completing an MBA at Harvard in 1966.
He secured a position at Salomon Brothers, and by 1972 he had become a partner. But his relationship with the firm ended abruptly nine years later when Salomon Brothers was bought out and Mr Bloomberg was sacked.
He used his stake from the Salomon sale to found his own business – now a global media and financial data empire named after him.
In his first term, he banned smoking for bars, fought with transport unions and launched a crusade against street vendors. Tabloid papers began referring to the mayor as “Gloomberg”.
But an improved economy, better school results and falling crime rate under his mayoralty won him a second term in office in 2005 with a victory margin of 20% – the highest for any Republican in New York.
He left the party in the middle of his second term, running and winning a third as an independent. “In God we trust. Everyone else, bring data,” was a favourite Bloomberg motto – centrism, empiricism and pragmatism were his political brand, regardless of his party.
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Take Care Of Your Kids
On the 10th anniversary of the attacks, as bagpipers played and New York paused to reflect, Bloomberg presided over the opening of the 9/11 Memorial, a milestone that drew President Barack Obama and more than 10,000 relatives of the dead.
Soaring over the ceremony was the rising symbol of New Yorks recovery 82 of the 104 stories that would become the new World Trade Center.
We can never un-see what happened here, Bloomberg told the crowd assembled alongside two memorial pools tracing the footprints of the fallen towers. Etched in bronze parapets were the nearly 3,000 names of the dead, including that of Peter Alderman.
Over the years, Bloomberg had prodded the city to move past its collective grief. Giuliani had envisioned Ground Zero as a 16-acre memorial. Bloomberg wanted a smaller memorial and pushed for new offices and schools. He warned of turning downtown into a cemetery.
When he spoke to relatives of the dead still in the throes of grief, Bloomberg felt the urge to say, Suck it up, as his parents had taught him.
I thought to myself, Its tragic, but youve got to take care of your kids, he said. You dont want to be crying. You want to be talking about the future What can I do to help your kids?’ ‘What can I do to help you? rather than look back. Looking back isnt going to help.
On another wall, behind glass, was a campaign flier with the date in white letters Tuesday, Sept. 11 reminding voters to support a Republican on that days ballot.
Why Is Bloomberg Running As A Democrat If Hes A Billionaire
Most billionaires like Trump. Since his election, they have gotten the sweet end of the deal. Trumps tax plan, benefited them. Trumps economic policies have meant that they are becoming wealthier by the day. Trump has also served as the bulwark against socialism that long precedes other billionaires!
Yet, Michael Bloomberg is an exception. He has criticized Trump on many occasions, saying that his way of governing is bringing the country to ruin. He has also criticized Trumps economic plans such as the Muslim ban and the Mexican border wall.
But why on Earth is he not following in the footsteps of other billionaires before him?
Michael Bloomberg is running as a Democrat because he wants to appear like the man of the people. He wants you to discard the fact that there is a multi-billion dollar company bearing his name. He wants to be your president.
It has actually been quite common for billionaires to back Democrats for a while now. Many billionaires themselves are/were Democrats at one point too!
Michael Bloomberg is one of these such billionaires, having been a longstanding Democrat .
Despite the fact that Bloomberg is one of the richest men on the planet, with a company worth tens of billions of dollars. He still wants a challenge. And once you have become the go-to for Wall Street, the White House it must be!
There is also some speculation that Michael Bloomberg may be doing this with the intention of actually getting to the White House to be president!
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Who Is Michael Bloomberg
Whilst this is not an in-depth biography by any means, it will outline the key points about Bloombergs life.
- Born on February 14th 1942
- Attended Johns Hopkins University and Harvard Business School
- Worked at Salomon Brothers for 15 years until he was fired in 1981
- In 1981, he founded Bloomberg LP, a mass media and financial informations company used by many financial institutions, from banks to traders to investment bankers
- In 2001, he ran for Mayor of New York as a Republican and won election.
- In 2005, he was re-elected as Mayor of New York
- In 2009, he extended his term to run as Mayor of New York for a third time, so that he could fix the 2008/09 Great Recession
- In 2018, Bloomberg applied to become a member of the Democrat party once again, after having left the party in 2001 to run for the mayors office
- In March 2019, Bloomberg stated that he would not be running as a Democrat for the presidency in 2020. But he did call for the Democrat party to Nominate a Democrat who will be in the strongest position to defeat Donald Trump
- In November 2019, he chose to run for president as a Democrat- not as an independent as many had speculated.
- As of February 2020, he has a net worth of $62 billion!
Mayoralty Of Michael Bloomberg
The mayoralty of Michael Bloomberg began on January 1, 2002, when Michael Bloomberg was inaugurated as the 108thmayor of New York City, and ended on December 31, 2013.
Bloomberg was known as a political pragmatist and for a managerial style that reflected his experience in the private sector. Bloomberg chose to apply a statistical, results-based approach to city management, appointing city commissioners based on their expertise and granting them wide autonomy in their decision-making. Breaking with 190 years of tradition, Bloomberg implemented a “bullpen” open plan office, reminiscent of a Wall Streettrading floor, in which dozens of aides and managerial staff are seated together in a large chamber. The design was intended to promote accountability and accessibility. At the end of Bloomberg’s three terms, the New York Times said, “New York is once again a thriving, appealing city where the crime rate is down, the transportation system is more efficient, the environment is cleaner.”
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Michael Bloomberg Isnt A Smug Technocratic Centrist Hes Something Far Worse
An admirer of dictators, a lowbrow misogynist, an unfiltered bigot Michael Bloomberg is the only Democratic contender who might actually be worse than Trump.
Democratic presidential candidate former New York City mayor Mike Bloomberg delivers remarks during a campaign rally on February 12, 2020 in Nashville, Tennessee.Brett Carlsen / Getty
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In 2014, New York City quietly agreed to pay an $18 million settlement to the hundreds of people who had been ripped from the streets and locked away for peacefully protesting the Republican National Convention. Fittingly, Michael Bloomberg was no longer in office to hand the money out. Apologies dont come easy to oligarchs.
More than 1,800 people, including teenagers and many uninvolved bystanders, were caught up in the massive NYPD sweep outside the 2004 convention. They were detained, thirty or forty at a time, in dismal pens with oil-soaked floors and chemical fumes. Some were held more than two days before being brought before a judge, a violation of New York law. Released detainees were taken straight to hospital for treatment of rashes and asthma.
Mike Bloomberg Pledges $60 Million To Help House Democrats
Former New York mayor Mike Bloomberg plans to spend $60 million to strengthen the Democratic House majority in November, roughly matching the money he invested in flipping control of the House in 2018, according to a Bloomberg adviser familiar with the plans.
The spending will include digital and television ads to defend some of the 20 freshman Democrats he helped win in 2018, along withspending aimed at defeating additional Republican incumbents.
The effort will include new money to several groups, including a revival of Bloombergs own political vehicle, Independence USA, and donations to the House Majority PAC, a group closely associated with House Speaker Nancy Pelosi , said the Bloomberg adviser, who spoke on the condition of anonymity to discuss the internal planning.
Mikes view is that the investments he made last time are some of the best investments he has ever made, the adviser said Monday about the House races. We are going to be looking at the same kinds of places, which is to say suburban, swing districts. There will be some overlap with presidential contest states.
Pelosi issued a statement on Monday welcoming Bloombergs continued support of House Democrats.
Mike Bloomberg played a role that was pivotal to our success two years ago, Pelosi said in a statement. We are so glad that he is staying in the fight to protect and expand the Democratic majority in the House.
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Early Life And Bloomberg Lp
Bloombergs father, a Polish immigrant, was a bookkeeper and his mother a secretary. After studying engineering at Johns Hopkins University , he attended Harvard University and took an entry-level position with Salomon Brothers investment bank. Within 15 years he had achieved the level of partner and was leading the firms block trading operations. When Salomons acquisition by another firm in 1981 left him without a job, Bloombergs $10 million partnership buyout provided the funding he needed to create Innovative Market Systems, a financial data-services firm, in 1982. Twenty years later the renamed Bloomberg LP had become a global leader in financial data services. Central to the companys success was the Bloomberg computer terminal, a comprehensive financial news and information source. The companys other holdings included the Bloomberg Business News wire service, news radio station WBBR in New York City, and Bloomberg Television.
Diana Taylor Served As New York State Superintendent Of Banks Under Gov George Pataki And Was Considered For Chair And Ceo Of The Fdic
Like her longtime boyfriend Mike Bloomberg, who made his billions in the financial industry, Diana Taylor has had an impressive career in finance and banking.
The pair met during a Citizens Budget Committee meeting in New York City in 2000 when Taylor was vice president of KeySpan Energy. Bloomberg went on to become mayor after the Sept. 11, 2001 terrorist attacks and Taylor became chief financial officer for the Long Island Power Authority in 2001, according to a professional bio.
From 2003 to 2007, Taylor served as New York State Superintendent of Banks. President George W. Bush considered her to head up the Federal Deposit Insurance Corporation, or FDIC, according to the New York Daily News, but her name was eventually withdrawn from consideration.
Most recently she was vice chair at Solera Capital. She also serves in different capacities for numerous charities and non-profit organizations, including AMFAR, the Mayo Clinic, the International Womens Health Coalition and the Council on Foreign Relations.
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Has Michael Bloomberg Always Been A Democrat
No. But he was a Democrat before he was a Republican, which was before he was an independent and way before his recent re-embrace of the party. Despite his socially liberal views, Mr. Bloomberg changed parties to run in the Republican mayoral primary in 2001. He registered as an independent midway through his time at City Hall. In 2016, he spoke in support of Hillary Clinton at the Democratic National Convention. In 2018, he officially returned to the party.
Bloomberg Pledges $750m To Support And Expand Charter Schools Across Us
Billionaire former mayor Michael Bloomberg, who had a rare third term at City Hall, says Democratic mayoral candidate Eric Adams could enjoy the same long tenure.
Bloomberg predicted a successful future for the Big Apple with great leadership like Im convinced were going to have in this city for the next four or eight or if youre clever 12 years, the media mogul told Adams at a charity event Tuesday night.
Bloomberg, a major donor to the Fortune Society that helps people leaving jail, made the remarks from a podium at the nonprofits annual gala as he accepted its Game Changer Award for his philanthropy.
The ex-mayor did not mention that he showered cash on key City Council members with the power to kill a term-limits extension bill that paved the way for his third term.
He also didnt talk about how his self-funded $100 million war chest helped him win the 2009 election.
Earlier in the same event Adams compared Bloomberg, who has fundraised for his mayoral campaign, to Jesus Christ calming the waters at the Sea of Galilee.
Bloomberg also wished Adams good luck in the Nov. 2 general election, adding Im not sure you need it. Adams is heavily favored to win the contest against Republican opponent Curtis Sliwa.
A spokesman for Adams did not immediately comment.
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Tobacco Guns And Public Health
Bloomberg has been a longtime donor to global tobacco control efforts. Bloomberg has donated close to $1 billion to the World Health Organization to promote anti-smoking efforts, including $125 million in 2006, $250 million in 2008, and $360 million, making Bloomberg Philanthropies the developing world‘s biggest funder of tobacco-control initiatives. In 2013, it was reported that Bloomberg had donated $109.24 million in 556 grants and 61 countries to campaigns against tobacco. Bloomberg’s contributions are aimed at “getting countries to monitor tobacco use, introduce strong tobacco-control laws, and create mass media campaigns to educate the public about the dangers of tobacco use.”
Bloomberg is the co-founder of Everytown for Gun Safety , a gun control advocacy group.
In August 2016, the World Health Organization appointed Bloomberg as its Global Ambassador for Noncommunicable Diseases. In this role, Bloomberg will mobilize private sector and political leaders to help the WHO reduce deaths from preventable diseases, traffic accidents, tobacco, obesity, and alcohol. WHO Director-General cited Bloomberg’s ongoing support for WHO anti-smoking, drowning prevention, and road safety programs in her announcement of his new role.
What Is Rent Control
Bloomberg and Alfred Sommer, a prominent ophthalmologist he knew through their affiliation with Hopkins, were eating steaks one night when the businessman asked a surprising question.
What do you think about me running for mayor?
Why would you want to do that? Sommer replied. Why would anyone want to do that?
As he contemplated a different path, Bloomberg consulted a long list of political operatives, including Bill Cunningham, a former adviser to Sen. Daniel Patrick Moynihan .
You have any idea what guys like me do to guys like you? Cunningham recalled asking. He warned that Bloombergs wealth would be a bulls eye for opponents lampooning him as an out-of-touch oligarch.
Thats whats wrong with politics, Bloomberg snapped. He insisted that he was more than his money and that he had the credentials to govern.
Cunningham joined a growing cast of strategists around Bloomberg, a troupe including New Yorks preeminent political guru, David Garth, who had steered Lindsay, Democrat Ed Koch and Giuliani to mayoral victories.
Their new boss, they learned, had no patience for chitchat or navel-gazing. He could be blunt, profane and biting.
How do you live with her? Bloomberg said when meeting the husband of Ester Fuchs, by then a policy adviser, who was flabbergasted until she saw the billionaires smirk.
He also had a lot to learn about New York politics.
Heres your money. Go tour, Bloomberg said when they landed, Ayarza recalled.
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