Michael R. Bloomberg is the 108th Mayor of the City of
New York. He was born on February 14, 1942 to middle class
parents in Medford, Massachusetts, where his father was the
bookkeeper at a local dairy. Mayor Bloomberg's thirst for
information and fascination with technology was evident at an
early age, and led him to Johns Hopkins University, where he
parked cars and took out loans to finance his education. After
his college graduation, he gained an MBA from Harvard and in
the summer of 1966, he was hired by Salomon Brothers to work
on Wall Street.
He quickly advanced through the ranks, and became a
partner in 1972. Soon after, he was supervising all of Salomon's
stock trading, sales and later, its information systems. He was
fired in 1981 after another company acquired Salomon. Michael
Bloomberg used his stake from the Salomon sale to start his
...39... company, an endeavor that would revolutionize the way
that Wall Street ....40.... business. As a young trader, he had been
amazed at the archaic nature in which information was stored.
When he needed to see how a stock had been trading three
weeks earlier, he had to find a copy of the Wall Street Journal
from the date in question, and the records system consisted of
clerks penciling trades in oversize ledgers. ...41... , he created a
financial information computer that would collect and analyze
different combinations of past and present securities data and
deliver it immediately to the user.
In 1982, Bloomberg LP sold 20 subscriptions to its
service; 20 years ....42... , Bloomberg LP has over 165,000
subscribers worldwide. As the business proved its viability, the company branched out and in 1990 Bloomberg LP entered the
media business, launching a news service, and then radio,
television, Internet, and publishing operations.
Nearly 20 years after its founding, Bloomberg LP now
employs more than 8,000 people − including 2,500 in New York
City − in more than 100 offices worldwide. As the company
enjoyed tremendous growth, Michael Bloomberg dedicated more
of his time and energy to philanthropy and civic affairs. His
desire to improve education, advance medical research and
increase access to the arts, has provided the motivation for
much of his philanthropy.
The Mayor served as the Chairman of the Board of
Trustees of Johns Hopkins University until May 2002. Recently,
he was honored by Johns Hopkins University, when its School of
Hygiene and Public Health was renamed "The Bloomberg
School of Public Health," a tribute to his leadership and use of
philanthropy to improve the human ....43... .
In 1997, Michael Bloomberg published his autobiography,
Bloomberg by Bloomberg. All of the royalties from sales of the
book are donated to the Committee to Protect Journalists.
(Adapted from
http://home.nyc.gov/portal/index.jsp?pageID=nyc_mayor_bio&catID=119
4&cc=unused1196&rc=1194&ndi=-1)