Michael Bloomberg

Former mayor of New York
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Michael Bloomberg dropped out of the presidential race on March 4, 2020. This page is no longer being updated.
Bloomberg made a late entry into the 2020 Democratic race in November 2019, offering a more moderate vision for the country and casting himself as a problem solver. He served as New York City’s mayor from 2002 to 2013 and is the co-founder, CEO, and owner of Bloomberg L.P., a privately-held financial, software, data, and media company.
Johns Hopkins University, B.S., 1964; Harvard University, MBA, 1966
February 14, 1942
Diana Taylor (partner); divorced from Susan Brown
Jewish
Emma and Georgina
Co-founder, Bloomberg LP (previously named Innovative Market Systems), 1982-present;
Investment banker, Salomon Brothers, 1966-1981
BLOOMBERG IN THE NEWS
Michael Bloomberg Fast Facts
Updated 2:44 PM ET, Mon Mar 23, 2020
Here is a look at the life of Michael Bloomberg, former New York mayor and 2020 Democratic presidential candidate. Personal Birth date: February 14, 1942 Birth place: Boston, Massachusetts Birth name: Michael Rubens Bloomberg Father: William Henry Bloomberg, bookkeeper Mother: Charlotte (Rubens) Bloomberg, office manager Marriage: Susan Brown (1976-1993, divorced) Children: Georgina, 1983; Emma, 1979 Education: Johns Hopkins University, B.S. in electrical engineering, 1964; Harvard Business School, M.B.A., 1966 Religion: Jewish Other Facts One of four New York City mayors to serve three terms. Left the Democratic party in 2001 and won his first two mayoral terms as a Republican. His third mayoral term was won as an independent, and then he rejoined the Democratic party in 2018. Diana Taylor has been his companion for 20 years. As mayor of New York, Bloomberg made sweeping changes to city schools, transportation, including extending subway lines, and public health, implementing extensive regulations targeting smoking and obesity. Since 2006, Bloomberg Philanthropies, an umbrella organization of Bloomberg's charities which includes the nonprofit Bloomberg Family Foundation, has donated billions to political interests and causes such as education, the environment and public health. Timeline 1966-1981 - Works as a clerk, and later partner at Salomon Brothers in New York. 1981 - Co-founds Bloomberg L.P. (formerly Innovative Market Systems) using a $10 million partnership buyout from Salomon Brothers. 1982 - Creates the Bloomberg terminal, a software system with a specialized keyboard used by financial professionals to trade stocks electronically and access live market data. 1990 - Co-founds Bloomberg News (formerly Bloomberg Business News). 1994 - Launches Bloomberg Television (formerly Bloomberg Information TV). 1996-2002 - Serves as chairman of the Johns Hopkins University's board of trustees. 1997 - His memoir, "Bloomberg by Bloomberg," is published. November 6, 2001 - Is elected mayor of New York. November 8, 2005 - Is elected to a second term. November 3, 2009 - Is elected to a third term after spending more than $100 million on his reelection campaign. In October, the New York City Council voted to extend the city's mayoral term limits from two four-year terms to three. May 2012 - Announces a proposal to ban the sale of sugary drinks larger than 16 ounces at restaurants, food carts and any other establishments that receive letter grades for food service. On June 26, 2014, New York's Court of Appeals rules that New York City's ban on large sugary drinks, which was previously blocked by lower courts, is illegal. July 27, 2016 - Endorses Hillary Clinton for president at the Democratic National Convention in Philadelphia. March 2019 - Ranks No. 9 on Forbes' annual list of billionaires, with a net worth of $55.5 billion. November 24, 2019 - Announces his late-entry Democratic presidential bid, unveiling a campaign squarely aimed at defeating President Donald Trump. November 24, 2019 - Bloomberg News Editor-in-Chief John Micklethwait releases a statement addressing how the network will cover the 2020 presidential campaign and reveals that it will not investigate Bloomberg or any other Democratic candidates. February 10, 2020 - Audio is posted online of Bloomberg from 2015, defending his use of "stop and frisk" as mayor by describing the policy as a way to reduce violence by throwing minority kids "up against the walls and frisk[ing] them." Bloomberg later says his 2015 comments about the controversial stop and frisk policing policy do not reflect the way he thinks or the way he led as mayor of New York City. February 18, 2020 - Qualifies for his first Democratic presidential debate, by polling four times at or above 10% nationally. February 18, 2020 - A campaign adviser tells CNN that Bloomberg would sell his financial information and media company if he's elected president, in an effort to be "180 degrees away from where Donald Trump is on these issues." February 19, 2020 - Faces criticism in first presidential debate from other Democratic candidates regarding campaign spending, his record on policing tactics as mayor of New York and misogynistic comments he allegedly made about women at his company in the 1980s and 1990s. March 4, 2020 - Ends his presidential campaign and endorses Joe Biden.
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STANCES ON THE ISSUES
climate crisis
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Bloomberg said, if elected, he would make climate a top priority. The US would rejoin the Paris climate accord, the landmark 2015 global agreement on global warming targets. He has said he wants the US to create a clean energy economy and has vowed to create renewable energy jobs. Previously, he worked as the UN secretary-general’s special envoy for climate action, and he has worked with cities, states and businesses to address the climate crisis.
economy
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Bloomberg has vowed to create a housing proposal and an earned income tax credit to provide economic opportunity for all Americans. His housing proposal would expand funding for the Low-Income Housing Tax Credit, and would increase federal spending for programs like the Public Housing Capital Fund, the HOME program and Community Development Block Grants. He proposes revising the Earned Income Tax Credit and raising the incomes of low-wage workers. By 2025, he wants to increase the minimum wage to $15 an hour. Bloombergwrote in an op-ed in December 2017 that, in order to achieve revenue-neutral tax restructuring, he was in favor of reducing the 35% corporate tax rate. He criticized President Donald Trump’s 2017 tax overhaul as an “economically indefensible blunder that will harm our future.”
education
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Bloomberg would make it a top national priority to increase student achievement, college preparedness and career readiness. He says he leads national efforts to increase the number of lower-income students enrolled in top colleges, and that as mayor, he strengthened standards and created more quality school options. He says he increased graduation rates, increased the education budget and opened new schools. While he was mayor of New York, a state law placed the New York public school system under mayoral control. Bloomberg supported the move, and used the power to open new schools, champion charter schools and close poor-performing schools. He was often at odds with the United Federation of Teachers.
gun violence
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In 2014, Bloomberg pledged to spend $50 million to build a nationwide grassroots network to combat the National Rifle Association. He founded the umbrella group Everytown for Gun Safety, which brought together groups he already funded: Mayors Against Illegal Guns and Moms Demand Action for Gun Sense in America. A goal of the groups was to try to “expand the background check system for gun buyers both at the state and national levels,” according to The New York Times. If elected, Bloomberg says, he would continue to back common-sense gun policies. More on Bloomberg’s gun violence policy
healthcare
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Bloomberg said the US should expand Obamacare and Medicare in order to achieve universal coverage. His campaign website reads: “As a mayor, businessman, and philanthropist, Mike has pioneered bold health initiatives that have cleaned the air we breathe, expanded access to prenatal and postnatal care, increased screenings for breast and prostate cancer, dramatically cut teen smoking, and reduced injuries and deaths on roads.” Bloomberg said “Medicare for All” would “bankrupt us for a very long time,” The New York Times reported in January 2019. “I think you could never afford that. You’re talking about trillions of dollars,” he said of the single-payer health plan. As mayor, Bloomberg pushed for New York City to ban smoking in all restaurants and bars and for big soft drinks to be banned.
immigration
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Bloomberg founded New American Economy, a pro-immigration coalition of business leaders and mayors that aims to reach the public and policymakers. In 2018, the group targeted senators with a TV and phone campaign to urge them to protect so-called Dreamers, undocumented immigrants who came to the US as children.
LATEST POLITICAL NEWS
Back to school plans in flux for a US that set a record for new cases in one day
Updated 4:02 AM ET, Fri Jul 10, 2020
Another record-setting day amid a resurgence of Covid-19 cases has forced states to revisit contingency plans to safely reopen US schools. With the US school system in an upheaval since the pandemic began, several governors are beginning to take sides in the debate between national leaders pushing for children to attend classes in person and local officials hesitant to congregate students before it is safe. The US Centers for Disease Control and Prevention has put out guidelines for reopening schools and will soon release more tools to help administrations and parents make decisions, but it is ultimately up to the school districts to decide what is the safest course of action for them, director Robert Redfield told CNN's Anderson Cooper Thursday night. "We all want to protect the safety of the children that are in schools," Redfield said. "There's really a public health crisis we are paying by not having these schools open and I think we really need to get that balance." Thursday brought 60,646 new cases a record number in a single day, according to data from Johns Hopkins University. The new high comes as many states set records in infection rates and hospitalizations and 33 states saw an increase in new cases reported compared to last week. Michigan Gov. Gretchen Whitmer told reporters the numbers will determine if the state has to go back a phase in its reopening plan, in which case students may not return to the classroom as they currently plan to. Arkansas has pushed the first day of school back from August 13 to 24 to give districts time to adjust to a blended learning plan, Gov. Asa Hutchinson told reporters Thursday. In Florida, where there are particularly high instances of new cases and hospitalizations, Gov. Ron DeSantis weighed the increase of cases against the education gap that can come from students learning at home. If Home Depot and Walmart can be open, so can schools, he said. And though the American Academy of Pediatrics ultimately wants students to be back in school, Florida's statewide mandate to reopen schools goes against their recommendations, President Dr. Sally Goza said in an interview on NPR's Morning Edition Wednesday. "We know that it has to be safe, and we know that we have to try to decrease that transmission as much as we can," Goza said. Staggering numbers show the pandemic is not over for the US Although states have relaxed restrictions and more people have gathered in public spaces, the nation's leading infectious disease expert has been warning Americans throughout the week that the nation is still "knee deep" in the first wave. "We've never really gotten out of it," Dr. Anthony Fauci said in an interview with SiriusXM Doctor Radio airing on Friday. North Carolina set a record Thursday for the highest number of hospitalizations and posted the second highest number of cases for the state, Gov. Roy Cooper said. "We're continuing to watch with concern as COVID cases and hospitalizations increase," he said. "And though North Carolina isn't a surging hotspot like some other states, we could be if we don't stay strong in our fight." Texas and California set their own grim record with the highest number of coronavirus deaths in a day since the pandemic began. And Texas Gov. Gregg Abbott does not anticipate next week will bring any relief for the state. "I think the numbers are going to look worse as we go into next week, and we need to make sure that there's going to be plenty of hospital beds available in the Houston area," Abbott said in an interview with KRIV-TV. Experts say the US can stay open, but it has to be strategic While it's impossible to maintain stringent coronavirus restrictions and return to a sense of normalcy, there is a middle ground, Fauci said. "Rather than think in terms of reverting back down to a complete shutdown, I would think we need to get the states pausing in their opening process. Looking at what did not work well and try to mitigate that," the director of the National Institute of Allergy and Infectious Disease told The Hill's Editor-at-Large Steve Clemons. The all or nothing approach to socialization, and in Florida's case reopening too fast, contributed to the return of the virus, Fauci said on Podcast-19, FiveThirtyEight's weekly podcast on Covid-19. "There are some governors and mayors that did it perfectly correctly," he said. "But what happened is that many of the citizenry, said, 'You know, well, I'm either going to be locked down or I'm going to let it all rip.'" Fauci has stressed the risk in congregating, and he recommended Thursday that the nation reevaluate recommendations on when to reopen bars and indoor restaurants, saying they pose one of the "real problems." Even with the restrictions currently in place, only half of Nevada's bars were found to be in compliance, said Gov. Steve Sisolak. As of 11:59 p.m. local time on Friday, bars in certain counties will be returning to similar restrictions laid out in Phase 1 of the state's reopening plan. Precautions become mandates in 'a fight for our lives' Also in the fight against rising numbers, local leaders are moving from encouraging precautions like masks to mandating them. At least 36 states plus DC and Puerto Rico have some type of mask requirement order in place, and some cities require their use even when their states don't. Mississippi Gov. Tate Reeves made masks mandatory Thursday for the 13 counties seeing the greatest spikes in of coronavirus cases. Businesses will not be required to shut down, but social distancing will also be required in those counties. "Mississippi is in a fight for our lives," he said. And for those fearing that taking precautions to prevent the spread of coronavirus would have a negative impact on local economies, Colorado Gov. Jared Polis told reporters Thursday that wearing a mask saves both lives and businesses from shutting down. "If you are waiting to wear a mask until the Governor tells you to," Polis said, "I hope you've heard that I'm telling you, and I've made it clear. Wear a d*** mask."
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