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 This page is no longer being updated.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 9:27 AM ET, Thu Feb 17, 2022
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 more than 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. 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. September 3, 2020 - Bloomberg's charity, Bloomberg Philanthropies, announces he is donating $100 million to the nation's four historically Black medical schools to help ease the student debt burden for the next generation of Black physicians. September 25, 2020 - Bloomberg announces $40 million in TV ads supporting Biden statewide in Florida. February 2, 2022 - Joseph Beecher is arrested, accused of breaking into the Colorado ranch owned by Bloomberg and kidnapping a Bloomberg employee. Beecher demanded to know the location of Bloomberg's daughters, according to an arrest warrant affidavit. Beecher is awaiting a February 8 federal court hearing in Wyoming, where he was found with the employee, who was unhurt. February 9, 2022 - Bloomberg is nominated to serve as the chair of the Defense Innovation Board.
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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

Harris says she 'never believed' Trump SCOTUS nominees who told Senate Roe was settled precedent
Updated 5:16 PM ET, Mon Jun 27, 2022
In her first interview since Roe v. Wade was overturned on Friday, Vice President Kamala Harris told CNN's Dana Bash that she never believed former President Donald Trump's Supreme Court picks, whom she voted against in the Senate, would preserve the landmark abortion law. "I never believed them. I didn't believe them. That's why I voted against them," the vice president said in an interview on Monday when Bash, pointing to Justices Brett Kavanaugh and Neil Gorsuch's previous statements underscoring Roe v. Wade's long-held precedent, asked Harris whether she believed the two justices intentionally misled the public and Congress during the confirmation process. "It was clear to me when I was sitting in that chair as a member of the Senate Judiciary Committee, that they were ... very likely to do what they just did. That was my perspective. That was my opinion. And that's why I voted like I did." Her comments come shortly after Maine Republican Sen. Susan Collins said publicly that she feels misled by Kavanaugh, who she says reassured her that he would not overturn Roe v. Wade. Harris, who was flying on Air Force Two from Washington to Illinois on Friday to unveil the administration's latest strategy to improve maternal health in the US when the decision came down, said she was shocked by the ruling. "This is not over," she added, referring to how she sees the conservative court majority's intentions on other existing rights. Conservative Justice Clarence Thomas indicated in a concurring opinion for the ruling that the court should revisit other cases of precedent that ensure rights related to same-sex marriage and contraception. "I think he just said the quiet part out loud," Harris said about Thomas. "And I think that is why we all must really understand the significance of what just happened. This is profound. And the way that this decision has come down, has been so driven, I think, by the politics of the issue versus what should be the values that we place on freedom and liberty in our country." Harris said the administration "will do everything" within its power to defend access to medication abortion. And she suggested the administration is looking at ways to provide women in states where the procedure is banned the resources they'd need, like child care and travel funding, to access it in other states. But appearing to reject a growing request from Democratic lawmakers, Harris said the administration was not currently discussing using federal lands for abortion services in and around states that will ban the procedure. "It's not right now what we are discussing," Harris said. Calls for Biden to allow abortion providers to work from federal property have raised concerns among some lawyers. And providing federal funding for women to travel out of state has the potential of running afoul of the Hyde Amendment, which prohibits federal funding of abortions in almost all cases. A White House official on Monday made a similar argument, saying: "While this proposal is well-intentioned, it could put women and providers at risk. And importantly, in states where abortion is now illegal, women and providers who are not federal employees could be potentially be prosecuted." When pressed on what else a Democratic-controlled White House, Senate and House could do to protect abortion rights, Harris specifically pointed to Congress and the role the legislative branch could play in codifying abortion rights -- if Democrats had the votes. She repeatedly pointed to the importance of the 2022 midterms as an opportunity to elect more Democratic senators who support abortion rights. But when asked whether Congress could do something sooner if the Senate filibuster were eliminated, she would not say whether she would support eliminating the 60-vote threshold in order to pass abortion protections. "I think that (the President) has been clear about where we stand on this issue of reproductive health and what the President and our administration have within our toolkit to do and, so far, that's what we've been pursuing," Harris said. Biden told CNN's Anderson Cooper at a town hall last year that he would be open to altering the filibuster to pass voting rights legislation "and maybe more." This story has been updated with more information.
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