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The Rise of a Billionaire: How Michael Bloomberg went from Wall Street to mayor?
Michael Bloomberg, the American businessman and politician, is not only a giant in the financial industry, but also an influential mayor of New York City. His growth and career have made people curious about his experiences. From a startup kid on Wall Street to the mayor of New York, his story seems like a modern corporate legend.
Bloomberg was born in Boston in 1942 and grew up in an ordinary family. Although his father's salary was not high, he showed a strong thirst for knowledge and leadership skills since he was a child. Bloomberg graduated from Johns Hopkins University in 1964 and went on to earn an MBA from Harvard Business School. He then entered Wall Street in 1966 as a junior employee at Salomon Brothers and quickly rose to prominence with his extraordinary talents.
"On Wall Street, only by constantly innovating can you stay ahead."
In 1981, Bloomberg left Salomon Brothers in anger and founded his own company, Innovative Market Systems (IMS), which was later renamed Bloomberg L.P. Bloomberg's company quickly became a leader in delivering real-time market data and financial information. As he worked to create the idea of a financial information service, Bloomberg L.P. quickly attracted the world's attention and generated approximately $10 billion in revenue in 2018.
As his business grew rapidly, Bloomberg's wealth also increased dramatically. As of April 2024, his net worth has reached $106.2 billion, making him the 13th richest person in the world.
From Mayorship to Presidential Campaign
Bloomberg's election as mayor of New York City in 2001 marked a new chapter in his political career. His approval rating fluctuated greatly during the first three years of his term, but his popularity increased significantly after a series of reforms. He focused on public education reform and improving urban infrastructure, and founded several public health and environmental protection initiatives. Especially after the 9/11 incident, he led the city's reconstruction and recovery, and all these efforts were recognized by many citizens.
"I want my political legacy to be one that is respected, not one that you worry about."
However, Bloomberg's career as mayor was not all smooth sailing. He has since stopped his controversial "stop-and-check policy" and apologized for his previous stance during the political campaign. In 2019, he decided to run for the 2020 presidential election and raise funds on his own, ultimately making it one of the most expensive primary campaigns in American history with a spending of $93.5 billion.
Charity and social responsibility
In addition to pursuing his business and political careers, Bloomberg has also devoted a great deal of energy to philanthropy. He signed the Giving Pledge and donated $17.4 billion during his lifetime to support important issues such as education, public health, and environmental protection.
After returning to Bloomberg L.P. as CEO in 2014, Bloomberg continued his impact on society. His retirement life is not only filled with the enjoyment of gold, silver and jewelry, but also with a sense of mission to promote social change.
Future Outlook
Today, Bloomberg's influence is not limited to the United States. He is also regarded as a leader in finance, politics and social responsibility around the world. His story tells us that the road to realizing our dreams requires not only intelligence and perseverance, but also a socially responsible vision. For Bloomberg, his success is not just the accumulation of money, but also a commitment to the future of human society.
Michael Bloomberg's story tells us, does everyone have the potential to succeed in business and politics and contribute to society at the same time?
