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 This page is no longer being updated.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 2:44 PM ET, Mon Mar 23, 2020
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. March 2019 - Ranks No. 9 on Forbes' annual list of billionaires, with a net worth of $55.5 billion. 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.
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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
Florida's virus record exemplifies growing disaster of early state openings
Updated 12:01 AM ET, Mon Jul 13, 2020
Florida's staggering new single-day US state record of coronavirus cases underscores how the aggressive opening strategy championed by President Donald Trump and allied governors is turning into one of the worst political and economic calls in modern history. The Sunshine State recorded more than 15,000 new infections on Sunday -- the highest number of new cases in a single day by any state -- as the pandemic raged across southern and western heartlands including Texas, Georgia and Arizona. The surge came two months after many states, disregarding government guidelines, opened up bars, gyms, hair salons and other businesses. Fresh controversy is boiling meanwhile over Trump's aggressive push to get schools fully operational within weeks, after Education Secretary Betsy DeVos failed repeatedly to outline a plan to do so safely in a CNN interview Sunday. The White House also intensified a stunning whispering campaign against the nation's top infectious disease specialist, Dr. Anthony Fauci, accusing him of making mistakes and of refusing to prioritize the President's interests. Fauci, who has not spoken to the President for weeks, has contradicted Trump's false claims that the United States is leading the world in the coronavirus fight. He's also refuted Trump's claim that 99% of Covid-19 cases are "totally harmless." Fauci's positions have evolved with the science -- including his stance on masks, which he initially said weren't proven to be beneficial in everyday life and should be reserved for health care workers. The White House apparently sees no irony in attacking his track record when the President spent months denying the virus would be a problem, praising China for its handling of it and predicting a miracle that would cause it to disappear. And the fact that the administration is mounting a political campaign-style attack one of its own senior officials, who has been one of the nation's most respected public health experts for decades, tells an extraordinary tale about its priorities in the pandemic. Trump's election worries drive opening policy Trump's fixation on his electoral prospects and desire to ignite an economic comeback were behind his assurances that it was safe to ease stay-at-home orders without waiting for infection curves to properly flatten. The push was eagerly embraced by some GOP governors, including Florida Gov. Ron DeSantis, who is now facing heavy criticism as his state sees runaway infection rates. The alarming acceleration of the pandemic, with average countrywide new cases hitting 60,000 a day, suggests that the dark days endured by New York and New Jersey months ago may not turn out to be America's most harrowing tussle with the virus. New reports are emerging of full intensive care units, a shortage of protective equipment for front-line medical workers and problems with an underpowered national testing system -- exactly the deficiencies that complicated the early fight against Covid-19. Trump's earlier impatience may come back to bite him less than four months from Election Day. Some governors and city mayors are slowing or reversing reopenings. Economic and social damage from the pandemic could therefore last far longer than originally hoped as news of job losses in recent days indicates that furloughs could turn into permanent unemployment for thousands of Americans. View Trump and Biden head-to-head polling But far from learning the lessons of previous missteps, the White House, which only just got Trump to wear a mask, is pressing on with its fast reopening strategy, minimizing the human toll, ignoring science and acting to protect Trump's political flank in a way that continues to threaten the health of Americans. It's an approach exemplified by the White House push to reopen schools by using the same aggressive tactics that consigned the south to its current plight and that Trump himself displayed when traveling to Florida on Friday -- while largely ignoring the record-breaking infection rates. Administration demands school openings without a plan Every parent in America is fretting that kids could be out of school for many more months, a scenario that would have grave educational, social and economic consequences. DeVos played on those concerns in demanding a full opening of schools on CNN's "State of the Union" on Sunday. But she failed on multiple occasions to outline a plan for how to keep children and teachers safe and to stop them from transmitting coronavirus to their elders. She also refused to say whether schools should follow US Centers for Disease Control and Prevention guidelines trashed by Trump in a step that deepened confusion surrounding the new school year and made clear school districts were on their own. "The rule should be that kids go back to school this fall. And where there are little flare-ups or hot spots, that can be dealt with on a school-by-school or a case-by-case basis," DeVos told CNN's Dana Bash, minimizing the scale of the world's worst single-nation coronavirus outbreak. DeSantis has eagerly seized upon the White House pushes to open schools come what may, saying last week that if fast food and Walmart and Home Depot can open, schools can too, as Trump's allies buy into his efforts to create a politically helpful but false narrative of normalcy. Many school districts have been working on plans for months. They are finding that most schools simply lack the space to have all students back at the same time and ensure adequate social distancing. Scott Brabrand, the superintendent of schools in Fairfax County, Virginia, told CNN's Dana Bash that he would need an additional five Pentagon's worth of space to accommodate all students under such conditions. This kind of issue, to which the administration has offered no answers, is why some physicians view the White House's calls for full classrooms within weeks as a fantasy. "It's definitely not safe to open schools until we get the caseloads to a decent level. That's not going to happen any time soon," said Dr. Uché Blackstock, associate professor in the Department of Emergency Medicine at NYU School of Medicine, on CNN's "New Day" on Sunday. Trump, belatedly, wears a mask Trump, meanwhile, was basking in lionizing praise from campaign advisers for allowing himself to appear on camera wearing a mask for the first time after months discrediting calls by medical experts on face-coverings while more than 135,000 Americans died and more than 3 million were infected by the virus. The White House's tendency to cast blame spilled over in a tirade by one of the President's top trade advisers, Peter Navarro, on Sunday. "We were cruising along, until the Chinese Communist Party basically hit us with that deadly virus, that weaponized virus. And I don't think it's any coincidence that the first year that China had a down economy was the same year now that they're coming after us in all sorts of ways," Navarro said on Fox News. "And Joe Biden is the candidate of the Chinese Communist Party." Biden's campaign, meanwhile, blasted Trump's late adoption of the mask during a visit to wounded service members on Saturday by saying he "wasted four months that Americans have been making sacrifices by stoking divisions and actively discouraging people from taking a very basic step to protect each other. By contrast, Joe Biden has led by example from the start." Florida's grim new record Florida, which is supposed to host the Republican National Convention next month, reported 15,299 new Covid cases on Sunday, with a test positivity rate of 19.6%. Florida Rep. Donna Shalala, a freshman Democrat and former secretary of Health and Human Services under President Bill Clinton, said the virus was out of control partly because the governor, a Trump ally, would not tell everyone to wear masks, adding, "This is an American tragedy," in an interview with CNN. Around 40 hospitals across Florida have no ICU beds available with more than 7,000 people in hospitals statewide with Covid-19. Another state that is suffering is Georgia, where Republican Gov. Brian Kemp even angered Trump with the speed of his state openings. Atlanta Mayor Keisha Lance Bottoms on Friday rolled back the city's reopening to Phase One because of an alarming rise in new infections, accusing Kemp of opening the state in a "reckless manner." Charts of Georgia's progression rates show earlier sacrifices amid stay-at-home orders have been squandered. New cases were flat through May and half of June until the curve of infections started to rise sharply. Texas, which also pushed a quick return to business, and reported its own single one-day high in infections on Saturday of 10,351 added another 8,196 cases on Sunday. These concerning numbers explain growing pessimism about the surprisingly strong jobs and economic rebound in the US in recent weeks -- a reality that will dismay Trump, who bought into claims by son-in-law Jared Kushner that the economy could be "rocking" by mid-July well before the election.
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