Michael Bloomberg facts for kids

Kids Encyclopedia Facts

Quick facts for kids Michael Bloomberg
Bloomberg in 2015

Chair of the Defense Innovation Board
In office June 22, 2022 – January 14, 2025
President	Joe Biden
Preceded by	Mark Sirangelo
Succeeded by	Vacant
108th Mayor of New York City
In office January 1, 2002 – December 31, 2013
Deputy	Patricia Harris
Preceded by	Rudy Giuliani
Succeeded by	Bill de Blasio

Personal details
Born	Michael Rubens Bloomberg (1942-02-14) February 14, 1942 (age 83) Boston, Massachusetts, U.S.
Political party	Democratic (before 2001, 2018–present) Republican (2001–2007) Independent (2007–2018)
Spouse	Susan Brown-Meyer (m. 1975; div. 1993)
Domestic partner	Diana Taylor (2000–present)
Children	2, including Georgina
Education	Johns Hopkins University (BS) Harvard University (MBA)
Signature

Michael Rubens Bloomberg (born February 14, 1942) is an American businessman, politician, and philanthropist. A philanthropist is someone who gives money to help others. He is famous for starting the company Bloomberg L.P. and for serving as the 108th mayor of New York City. He was mayor for three terms, from 2002 to 2013.

Bloomberg is one of the richest people in the world. According to Forbes magazine, his net worth was about $104.7 billion in May 2025. He has signed The Giving Pledge, a promise to give away most of his money to charity. So far, he has donated over $17 billion.

In 2020, he ran for president of the United States. In 2024, President Joe Biden awarded him the Presidential Medal of Freedom, the highest honor for a civilian in the U.S.

Early Life and Education
Business Career
Political Career
Philanthropy: Giving Back
- Environmental Work
- Health and Education
Personal Life
Awards and Honors
Images for kids
See also

Early Life and Education

Michael Bloomberg was born in Boston, Massachusetts. His father, William, was a bookkeeper for a dairy company, and his mother was Charlotte. His family is Jewish. He grew up in the town of Medford, Massachusetts.

When he was twelve years old, Bloomberg became an Eagle Scout, which is the highest rank in the Boy Scouts. After high school, he went to Johns Hopkins University and earned a degree in electrical engineering. He then went to Harvard Business School to get a Master of Business Administration (MBA) degree.

Bloomberg in Johns Hopkins University's 1964 yearbook
Bloomberg in Medford High School's 1960 yearbook

Business Career

A 2012 Bloomberg Terminal. These computers provide financial data to businesses.

In 1966, Bloomberg began working at Salomon Brothers, a large investment bank on Wall Street. He was good at his job and became a partner in the company. In 1981, a new company bought Salomon Brothers, and Bloomberg was let go. He received $10 million from the company.

Using this money, Bloomberg started his own company called Innovative Market Systems. He had a big idea: he believed that Wall Street companies would pay for fast, high-quality business information delivered on computer screens. His company created a special computer terminal, now known as the Bloomberg Terminal, that gave users real-time market data and financial news.

The company, later renamed Bloomberg L.P., became a huge success. It grew to include Bloomberg News, Bloomberg Radio, and other services. As of 2019, the company employed 20,000 people in many different locations. After serving as mayor, Bloomberg returned to lead his company again.

Political Career

For most of his life, Bloomberg was a member of the Democratic Party. But in 2001, he switched parties to run for mayor of New York City as a Republican. He won the election and took office on January 1, 2002.

Mayor of New York City

Bloomberg with President Barack Obama in 2012

As mayor, Bloomberg was known for using data and statistics to run the city. He made many changes, including:

Public Health: He passed a ban on smoking in indoor places like restaurants and bars. He also banned unhealthy trans-fat from being used in restaurants.
City Improvements: He added many new bicycle lanes and made parts of Times Square into plazas where people could walk freely.
Rebuilding: After the September 11 attacks, his leadership helped rebuild parts of the city and encouraged new construction.
Education: He worked to reform the city's public schools by creating public charter schools.

Bloomberg was re-elected in 2005. In 2007, he left the Republican Party and became an Independent. New York City had a rule that mayors could only serve two terms. Bloomberg helped change this law, which allowed him to run for a third term. He won the election in 2009 and served as mayor until the end of 2013.

One of his most debated policies was the stop-and-frisk program, which allowed police to stop and search people on the street. Many people felt the program was unfair to certain groups. A court later ruled against how the program was being used. Years later, Bloomberg apologized for supporting it.

2020 Presidential Campaign

Bloomberg at a campaign rally in Phoenix, Arizona, in February 2020

Bloomberg had thought about running for president several times. In November 2019, he officially launched his campaign for the Democratic nomination for the 2020 election. He did not accept donations and instead used his own money, spending a record-breaking amount.

He entered the race late and did not win enough support from voters. He ended his campaign in March 2020 and endorsed Joe Biden.

Defense Innovation Board

Bloomberg is sworn in as chair of the Defense Innovation Board in June 2022.

In 2022, President Biden chose Bloomberg to be the chair of the Defense Innovation Board. This group gives advice to the U.S. military about new technology.

Philanthropy: Giving Back

Bloomberg speaking at an Everytown for Gun Safety event in August 2019

Michael Bloomberg is one of the most generous people in the world. Through his foundation, Bloomberg Philanthropies, he has given away more than $17 billion. His donations focus on five main areas: the environment, public health, the arts, government innovation, and education.

Environmental Work

Bloomberg is a strong supporter of fighting climate change. He has given hundreds of millions of dollars to campaigns like Beyond Coal and Beyond Carbon. These programs work to close polluting coal power plants and promote clean energy. He also works with city leaders around the world to help them reduce pollution and protect the environment.

Health and Education

Bloomberg has donated nearly $1 billion to the World Health Organization (WHO) to promote anti-smoking efforts around the world. He also co-founded Everytown for Gun Safety, a group that works to prevent gun violence.

Education is another major focus of his giving. He has given more than $4.5 billion to his old school, Johns Hopkins University. In 2018, he gave the school a gift of $1.8 billion. This money helps the university accept students based on their talent, not on how much money their families have. He has also given large donations to support Black medical schools and students.

Personal Life

In 1975, Bloomberg married Susan Brown. They have two daughters, Emma and Georgina. The couple divorced in 1993, but they have remained friends. Since 2000, Bloomberg's partner has been Diana Taylor.