Michael Bloomberg
Source of wealth: Bloomberg LP
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Biography
Michael Bloomberg cofounded financial information and media company Bloomberg LP in 1981.
He put in the seed funding for the company and now owns 88% of the business, which has estimated annual revenues of nearly $15 billion.
In 2023, he appointed product head Vlad Kliatchko as CEO of Bloomberg LP and former Bank of England governor Mark Carney as non-executive chair of a new board of directors.
Bloomberg got his start on Wall Street in 1966 with an entry level job at investment bank Salomon Brothers. He was fired 15 years later.
A major philanthropist, he gave away $3.7 billion in 2024 and has donated more than $21.1 billion in his lifetime to gun safety, climate change, education and other causes.
He has committed to donating his stake in Bloomberg LP to Bloomberg Philanthropies when he dies, if not sooner.
Bloomberg served as mayor of New York City for 12 years, from 2002 to 2013, and launched an unsuccessful bid for president in the 2020 race.
Perspective on their fortune
Gold
Everyday luxury
A Michael Bloomberg's fortune is equivalent to 738 of gold, but this may be difficult to value, as we don't usually have a handful of gold bars in our piggy bank.
A standard gold ring typically weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18k gold.
Based on today's gold price (not taking into account the jeweler's fee, shipping, or anything else), that gold ring would be worth $556.3
Michael Bloomberg could buy 196,690,658 gold rings. That's a lot of fingers and a lot of gifts!!
And if the number of rings is difficult to visualize, all these rings would need 35 trucks to transport them, But we can be almost certain that Michael Bloomberg will have enough left over to pay for the gas for those trucks.
Health
The price of life
Let's compare Michael Bloomberg's fortune with the healthcare spending of a huge country
Michael Bloomberg could fund the entire healthcare system of DR Congo with a population of over 105,800,000 of inhabitants for approximately 49.2 years.
But even if we compare their fortune to that of a rich country
At the other extreme, Michael Bloomberg could cover the health expenditure of Luxembourg, considered the world's most heavily invested health system, for 21.8 years
Education
Buying the future
Lowest education spending
Michael Bloomberg could assume the entire cost of the education system of Nigeria, the most populous country in Africa, with more than 243,000,000 inhabitants for 32.2 years.
Highest education spending
But not only could he assume the cost of a poor country, Luxembourg is considered the country with the highest per capita investment in education in the world, Michael Bloomberg could pay for it in full for 43.8 years.
Research
The monopoly of progress
Lowest research spending
Michael Bloomberg could fully fund the state research budget of Pakistan, the fifth most populous country in the world with more than 260,000,000 of inhabitants, for 184.2 years.
Highest research spending
But even if we compare the total wealth of Michael Bloomberg with Israel, the country that currently invests the most per capita in research in the world, it could assume the total cost of the system for 4.1 years.
Financial Assets
Financial assets information not available.
Monthly wealth history
Fortune comparison
Historical data not available for comparison