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richest-self-made-billionaires January 2016 (number 7)

richest-self-made-billionaires January 2016

 

7. Michael Bloomberg

 

Net worth: $42.1 billion
Age: 73
Country: US
Industry: Financial services
Source of wealth: Self-made; Bloomberg LP
Michael Bloomberg founded his financial-data firm in 1981 following a lucrative career at investment bank Salomon Brothers, which he joined in 1966 after earning his MBA from Harvard Business School. He added a news and media subsidiary to his company in 1990, but even today the bulk of Bloomberg LP's $9 billion in revenues still comes from the sale of terminals that Wall Street traders rely on for the most up-to-date financial and market information.

He left the company to run New York City as mayor in 2002 and served three terms. But rather than spend his time after leaving office in 2013 by giving away his immense wealth, as expected, he instead returned to Bloomberg LP to overhaul the newsroom and take the company in a new direction.
Now, Bloomberg may be looking to return to public office. He is reportedly exploring the possibility of an independent presidential bid. Though he faces an uphill battle — he's a pro-business fiscal conservative who also supports gun control, abortion rights, and efforts to curb climate change — his personal war chest will come in handy. The former mayor, who spent $261 million on his campaigns for New York City office, says he'd spend as much as $1 billion of his own money on a presidential run.

Ref: Business finder



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