Hi, I'm Michael Bloomberg, Mayor of New York CIty,
or as we humbly call it, the greatest city on the face of the earth.
He is the richest politician in America.
Welcome to WatchMojo.com,
and today we'll be learning more about the life and accomplishments of Michael Bloomberg.
I saw a thing today where... and it's probably embarrassing.
You're like the 10th wealthiest person in the world, or something like that.
That's not embarrassing.
Michael Rubens Bloomberg was born February 14th, 1942 in Boston, Massachusetts.
He grew up in a middle class family,
and put himself through school by working as a parking lot attendant.
Bloomberg always had a passion for technology,
and in 1964 he graduated from Johns Hopkins University with a degree in electrical engineering.
He then earned an MBA from Harvard Business School,
before taking an entry level job with Salomon Brothers on Wall Street.
By 1972, Bloomberg made partner.
He began overseeing equity trading, sales, and – eventually – information systems.
In 1981, Salomon Brothers was acquired and Bloomberg was fired from the firm.
With his $10 million severance,
he launched a start-up company to quickly and efficiently provide vital data to Wall Street.
Bloomberg L.P. started as Innovative Market Systems in 1981
and used emerging technologies to simplify the buying and selling of financial securities.
In 1982, Merrill Lynch invested $30 million in the company and began using the system.
Bloomberg L.P. continued growing,
and unveiled a variety of subsidiary products and services over the next years,
including Bloomberg newswire.
In 1990, the Bloomberg news division launched.
By that point, Michael Bloomberg was already one of the richest men in the world.
He then focused much of his time and wealth on philanthropic efforts,
with the arts, medical research and education taking precedence.
His next conquest was public office.
Despite the fact Bloomberg was a lifelong Democrat;
in 2001 he changed his affiliation and ran as a Republican for Mayor of New York City.
As New York suffered financially in the wake of the September 11th attacks,
Bloomberg promoted himself as a candidate with the business experience necessary
to lead the city through the crisis.
He spent record amounts of personal funds on the campaign to the tune of $74 million.
That gamble paid off when he was elected the 108th Mayor of New York on November 6th, 2001.
As mayor, Bloomberg refused his salary and was paid $1 per year for his work.
Politically, he was a social liberal:
Republican Party stands for personal liberty and freedom.
I see marriage equality as entirely consistent with that.
And more and more of the party supporters and activists see it that way as well.
Bloomberg was pro-choice, and supported the legalization of same-sex marriage,
as well as stricter gun laws.
However, he was considered fiscally conservative.
During his first term, one issue he concentrated on was public education.
Early in his term, he struggled to earn public support.
But, as his term progressed, he gained and preserved high approval ratings.
In 2005, Bloomberg was re-elected by a wide margin.
Throughout his second term, he made a concerted effort to fight poverty and create jobs.
During his mayoralty, he also implemented a widespread smoking ban
and helped fight climate change.
Crime rates dropped during his tenure, while high school graduation numbers grew.
He was even known to commute to work via subway.
After the credit crisis hit in 2008, Bloomberg announced his intention
to alter the law that limited New York City mayors to two consecutive terms.
He reasserted his business experience as an asset to the city in a tough financial time.
The law was successfully changed from two to three four-year terms,
and on November 3rd, 2009, he was elected Mayor again – this time as an Independent candidate.
Throughout his political career, rumors circulated that Bloomberg would seek a higher office.
In 2007, it was suspected he would make a run for governor of New York,
and later it was assumed he would run for president.
With a booming financial services and media empire,
a successful political career and a net worth of over $18 billion,
Michael Bloomberg has proved himself as a sharp politician and an even sharper businessman.
If you think you've seen progress over the past eight years, I got news for you.
You ain't seen nothing yet.
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