Michael Bloomberg Net Worth
How Much Does Michael Bloomberg Make?
Michael Bloomberg is the current Mayor of New York City, and the 10th richest person in the United States, having net worth of US$18 billion in 2010. He is the founder and 88% owner of Bloomberg L.P., a financial news and information services media company.
Bloomberg became a general partner at Salomon Brothers, where he headed equity trading and, later, systems development. In 1981, he was fired from Salomon Brothers and was given a $10-million severance package. Using this money, Bloomberg went on to set up a company named Innovative Market Systems. In 1982, Merrill Lynch became the new company's first customer, installing 22 of the company's Market Master terminals and investing $30 million in the company. The company was renamed Bloomberg L.P. in 1986. By 1987, it had installed 5,000 terminals. Within a few years, ancillary products including Bloomberg Tradebook (a trading platform), the Bloomberg Messaging Service, and the Bloomberg newswire were launched. As of 2009, the company had more than 250,000 terminals worldwide. His company also has a radio network which currently has its flagship station as 1130 WBBR-AM in New York City. He left the position of CEO to pursue a political career as the mayor of New York.
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