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 This page is no longer being updated.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 2:32 PM ET, Fri Jul 23, 2021
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. 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.
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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

White House once again makes Covid-19 the focus of Biden's schedule
Updated 12:36 PM ET, Mon Aug 2, 2021
The White House is making a concerted effort to return the focus of President Joe Biden's schedule to Covid-19 this week as the year-and-a-half-long pandemic again consumes his agenda amid a new spike in cases. The President has multiple events focused on the nationwide, and global, effort to vaccinate more people and combat the spread of variants, an opportunity to reset the administration's messaging after a series of announcements last week left many Americans confused about the state of the virus. The President will meet with his coronavirus team in the Oval Office on Monday after they spent the weekend reviewing the latest data and preparing virtually for the week ahead. After updating Biden, the group of public health officials is scheduled to take questions from reporters. Although these appearances initially happened three times a week, they were scaled back in recent months as officials felt there were fewer updates to share. The recent surge of the Delta variant has changed that thinking. The White House made a deliberate choice to hold their public briefing on Monday this week with the hope of developing a clearer line of messaging for the days ahead. Officials spent last week frustrated, believing they weren't effectively communicating the latest information as they rolled out a series of new measures designed to slow the spread of the highly contagious Delta variant. While there is consensus on the set of stricter measures among Biden's aides, officials lamented the poor communication to an understandably confused American public. They also accused some in the media of hyperbolic coverage. Asked during a briefing with CNN about the White House's mistakes in messaging and what they plan to do, an official pushed back on the question, but said the administration will continue to use everything in their power to push vaccines -- adding that the White House needs to change as the data changes. The official reiterated a national mandate for all Americans to be vaccinated is not under consideration, saying the White House has determined it is not within Biden's power as president. But the official did not rule out a stricter mandate on federal workers that goes beyond the announcement the President made last week that federal employees must attest to being vaccinated or face stringent mitigation measures. That was only a first step, the official said, designed to make life more difficult for those federal workers who decline to be vaccinated. Biden has asked his team to take a hard look at what authorities he has as it relates to federal workers, and the White House continues to look at all of those options, including within different subsets of the federal government. But one senior official administration told CNN that some of the problems are being caused by political decisions. "I think there are governors in this country who are putting their political interests ahead of public health," the senior administration official said, without naming the governors. A scramble to get back on track On Tuesday Biden is scheduled to give a speech on increasing vaccinations at home and abroad. The White House sees the global vaccination drive as more important than ever, one official said, given it's a way to tamp down on the spread of potential new variants that could reach the US. On Wednesday Biden will meet with the Dr. Eric Lander, the director of the Office of Science and Technology Policy, to discuss his plan for preparing for future pandemics. There's a chance the White House could add another coronavirus-related event to Biden's schedule, depending on how the week plays out. Biden had once hoped to move on from coronavirus to focus on other areas of his governing agenda, including the bipartisan infrastructure deal that is making its way through Congress. But the pandemic has warped those plans as millions of Americans have not got their vaccinations and cases rise. The renewed focus comes as the country grapples with the Delta variant, more contagious and may cause more severe illness than previous strains of coronavirus. The variant is spreading faster in areas of the country with low vaccination rates and threatening to derail much of the progress the nation has made in combating the pandemic. Last week, the US Centers for Disease Control and Prevention changed its masking recommendations and urged vaccinated people in certain areas of the country to resume wearing masks indoors in public areas. CDC Director Dr. Rochelle Walensky said the agency now recommends people in areas with "high" or "substantial" Covid-19 transmission should resume wearing masks indoors. The White House is racing to get the rest of the population vaccinated and continuously touts the safety and efficacy of the Covid-19 vaccines that have received emergency use authorization in the US. More than 99.99% of people fully vaccinated against Covid-19 have not had a breakthrough case resulting in hospitalization or death, according to the latest data from the CDC. Vaccinations rising On Sunday, the US reported 816,203 more Covid-19 doses administered, which was the fifth straight day recording more than 700,000 shots in arms. The current seven-day average of doses administered is 662,529 per day — the highest average since July 7. According to the CDC, 49.6% of the US population is fully vaccinated. The number is 58.1% among vaccine-eligible Americans ages 12 and older. National Institutes of Health Director Dr. Francis Collins on Sunday credited the rise in vaccinations to the rise in new cases of the Delta variant. "This may be a tipping point for those who have been hesitant to say, 'OK, it's time.' I hope that's what's happening," Collins said on CNN's "State of the Union." "That's what desperately needs to happen if we're going to get this Delta variant put back in its place." A senior administration official also told CNN that the CDC is now tracking more than just hospitalizations in breakthrough cases, despite health officials previously telling CNN they were not tracking cases that don't result in hospitalization or death. This official says the CDC is using vast network of health care workers, nursing homes and other facilities to obtain information on breakthrough cases. The official added they are having "constant dialogue" with other countries on tracking these kinds of infections as well. This senior official declined to provide a more specific number on how many vaccinated people they have found are contributing to the spread of Covid-19. They reiterated that they know it's possible, but still believe those people with breakthrough cases are less likely to spread it than those who are unvaccinated. Asked about any concerns about children returning to school this fall, a senior administration official said the White House is confident they'll be able to contain cases in school and expect to focus more this week on precautions that schools can take. The administration official was clear they don't want schools to have to contemplate returning to virtual learning. On children wearing masks, the official added they don't want children to be bullied for wearing masks in school, but said it's more important kids not be exposed to the virus from others who are not wearing masks. This story has been updated with additional reporting.
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