Founder, Bloomberg LP and Bloomberg Philanthropies

Mayor, New York City, 2002–2013

Born in Boston and raised in Medford, Massachusetts, just miles from HBS, Mike Bloomberg has pioneered innovations that have spread across the world. From Medford to Wall Street and beyond, the same core beliefs—in the importance of working hard, playing fair, and giving back—have guided Bloomberg during an unparalleled career as an entrepreneur, philanthropist, and three-term mayor of New York City.

Bloomberg’s remarkable cross-sector leadership has deeply influenced New York City, the country, and the international arena. His efforts and innovations—in business, government, and philanthropy—have made him a global leader on some of the most pressing issues facing America and the world, from climate change and gun violence to education and public health.

After graduating from HBS, Bloomberg spent 15 years at Salomon Brothers, where he rose through the ranks from an entry-level job counting securities by hand to general partner. When he was 39, Salomon merged with another firm and Bloomberg was fired. The energetic entrepreneur quickly launched his own company with a vision to computerize financial data and provide investment professionals with real-time market information and analysis. The computer terminal he and his partners created, which became known as the Bloomberg Terminal, transformed the buying and selling of securities at Merrill Lynch, the startup’s first customer, and eventually revolutionized the financial world.

As Bloomberg built his eponymous firm into an information and technology powerhouse, his knack for understanding all aspects of the business served him well. “More than anyone I’ve ever met, Mike has a vision that goes beyond what others can see,” says Dan Napoli, a retired Merrill partner. Bloomberg LP has grown into a global company with nearly 20,000 employees in 120 countries and is the primary source of information for the global financial system.

By all accounts, including his own, Bloomberg is frequently motivated by others’ belief that something can’t be done. In 2001, then with two daughters in college, Bloomberg decided—against very long odds—to take his no-nonsense, data-centric approach and his lifelong dedication to public service and apply himself to politics. Elected mayor just weeks after the attacks of September 11, 2001, he led the mourning city to a resounding recovery. His administration rebuilt and revived Lower Manhattan and improved the lives of millions of New Yorkers across the five boroughs, creating a record number of new jobs, cutting crime by a third, and increasing life expectancy by three years. “The mayor of New York City is probably the best political job in the world,” he says. “It’s got every kind of problem, and every chance of a solution.”

After his third term as mayor, Bloomberg focused his efforts on giving back through Bloomberg Philanthropies, the foundation he created to lead initiatives in the arts, education, the environment, government innovation, and public health. He has given away more than $6.4 billion. In 2018, he also committed an additional $1.8 billion to his alma mater, Johns Hopkins University, that will go entirely to student financial aid. “I was lucky enough to be able to make a gift for their endowment, so they can accept qualified students without regard to the size of their pocketbooks.”

Five years ago he returned to the helm of Bloomberg LP. He donates all profits from his share of the firm to Bloomberg Philanthropies, seeking to ensure better, longer lives for the greatest number of people. With everything he does designed to improve the world, Bloomberg is an optimist who attributes much of his success to luck. He has not forgotten his modest beginnings—or the $150 studio he rented and simple budget meals he prepared for himself during his early days on Wall Street. Mike Bloomberg’s story embodies the American dream, and his life’s work has been to extend that dream to an even broader slice of society.

Photo courtesy of Bloomberg Philanthropies

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