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 This page is no longer being updated.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.
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 more than 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. 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. September 3, 2020 - Bloomberg's charity, Bloomberg Philanthropies, announces he is donating $100 million to the nation's four historically Black medical schools to help ease the student debt burden for the next generation of Black physicians. September 25, 2020 - Bloomberg announces $40 million in TV ads supporting Biden statewide in Florida. February 2, 2022 - Joseph Beecher is arrested, accused of breaking into the Colorado ranch owned by Bloomberg and kidnapping a Bloomberg employee. Beecher demanded to know the location of Bloomberg's daughters, according to an arrest warrant affidavit. Beecher is awaiting a February 8 federal court hearing in Wyoming, where he was found with the employee, who was unhurt. February 9, 2022 - Bloomberg is nominated to serve as the chair of the Defense Innovation Board.
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.
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.”
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.
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
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.
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
Russia's war in Ukraine
Updated 3:20 AM ET, Fri Feb 3, 2023
Two people were killed and nine others injured in Russian attacks on Ukraine's southern Kherson region over the past 24 hours, Ukrainian officials said Friday. The Kherson regional military administration said a 5-year-old boy was wounded in the strikes and taken to hospital. It did not say where the casualties had occurred but added that Russian forces had attacked civilian settlements in the region some 65 times over the past 24 hours. "Enemy shells hit a shipyard, a school and residential buildings," the officials said. Russia’s mass mobilization, looming offensive and missile-borne terror against civilians is triggering fresh calls for even greater Western lethal aid to Ukraine, days after leaders signed off on their latest package that included the first tanks. A building public debate over whether to send F-16 fighter jets is resurfacing a dilemma underlying the entire NATO response: Is the aim of the United States and its allies simply to allow Ukraine to ensure its survival or is it to help it expel Russia from all its territory and to ensure the defeat of Russian President Vladimir Putin? The likely escalation in the war, close to its first anniversary, comes as Ukrainian President Volodymyr Zelensky warns that Moscow is mustering its forces for a “revenge” attack against the free world. The sense that another turning point is approaching was, meanwhile, underscored Thursday by CIA Director William Burns. “The key is going to be on the battlefield in the next six months, it seems to us,” Burns said at Georgetown University. This involves “puncturing Putin’s hubris, making clear that he’s not only not going to be able to advance further in Ukraine, but as every month goes by, he runs a greater and greater risk of losing the territory he’s illegally seized so far,” the CIA chief said. Washington is hearing Ukraine’s calls for even more multi-billion dollar assistance. It is about to announce a new $2.2 billion haul that includes longer-range missiles for the first time, according to multiple US officials. CNN’s Kevin Liptak and Oren Liebermann reported that the Ground-Launched Small Diameter Bomb — a guided missile with a range of 90 miles — will be included in the package. It could take weeks or months for the weapon to arrive, however, since the US will contract with American arms manufacturers to provide it. Still, the latest US offering solidifies one of the most important and ironic consequences of the war. One of Putin’s perceived invasion goals was to forever sever the hopes of Ukraine, which was once part of the Soviet Union, of joining NATO. It may not be a member of the alliance, but Ukraine is now waging a stronger-than-expected response against Moscow using some of the West’s most advanced military kit. Read Collinson's full analysis here. Russia is bringing its war against Ukraine closer to the industrial cities of Donetsk with a series of missile strikes against densely populated areas. On Thursday, two S-300 missiles were fired at the center of the city of Kramatorsk, landing about a minute apart and less than a hundred meters from a CNN team. An earlier Iskander missile strike had killed four people and hospitalized several more in the same area — an entirely residential zone with shops, a hospital and a clinic. One of those killed was a well-respected school principal, Hanna Valeriivna, weeks before her 48th birthday. Rescue crews still at the scene had no warning of Thursday’s attack. CNN witnessed the second missile’s last moments in flight before a large fire erupted and smoke billowed into the air. There were no further fatalities, though at least five civilians were injured. Some people ran in panic from the scene; others seemed fatalistic. “Of course, we are frightened,” said Natalia, a middle-aged woman cowering in a doorway. “But what option do we have?” The military governor in Donetsk, Pavlo Kyrylenko, says there is one option: Leave. “The occupiers will not leave Donetsk region alone until we drive them out of our land. Until then, all civilians must evacuate the region — it is a matter of life and death.” Read the full story: When Antony Blinken touches down in Beijing in the coming days for the first visit to China by a US secretary of state since 2018, he will be cutting a stark contrast to the scene in the Chinese capital one year earlier. Then, Chinese leader Xi Jinping welcomed Russian President Vladimir Putin for the opening of the Beijing Olympics — meeting for talks and dinner in Putin’s honor, and declaring a “no limits” partnership between the two neighbors. Weeks later, as Russian tanks rolled across the border into Ukraine starting an invasion that would devastate the country and cause a humanitarian crisis, Chinese leaders did not shrink from that declaration. Though Beijing claimed impartiality in the conflict and no advance knowledge of Russia’s intent, it also refused to condemn Moscow. Instead, it parroted Kremlin lines blaming NATO for provoking the conflict — further fracturing relationships with both Europe and the US. A year on, the contrast of Blinken’s visit is no coincidence. Economically drained by its now-abandoned zero-Covid strategy, Beijing has been softening its tone on foreign affairs and upping its diplomacy with Western governments, analysts say, in a bid to win back lost ground and stabilize its relations. In meetings with Blinken during his expected early February trip — as well as European leaders who’ve signaled they may visit in the coming months — Chinese counterparts are likely to emphasize their long-standing calls for a peaceful resolution and play up what they claim is China’s “objective and impartial position” on the conflict, analysts say. But while the optics may be different from this time last year, China’s support for Russia — when measured by its annual trade, diplomatic engagements and schedule of joint military exercises — tells a different story. Read the full analysis here. A former senior Russian army officer says he saw his comrades torturing prisoners of war in Ukraine, in a rare eyewitness account from within Moscow’s ranks to address widespread allegations of Russian war crimes. Speaking to CNN’s Erin Burnett on Thursday, former Lt. Konstantin Yefremov said he witnessed a deputy commander torturing prisoners of war and threatening them with sexual violence, adding that no one dared to speak out against the officer for fear he would attack them too. “He could have easily shot me or anyone else who said that they didn’t agree with this,” Yefremov said, adding that he personally witnessed the interrogations of three Ukrainian prisoners of war. “Besides, he was drunk nonstop, and he was driving around the nearby villages where there were other prisoners of war. As far as I know, there were about 20 others, Ukrainian prisoners of war,” he said. Yefremov is the most senior Russian officer to speak openly about what he saw in Ukraine. He is now hoping the United States will grant him asylum after he fled Russia last month following his dismissal from the military for refusing to return to Ukraine. “I ask the Ukrainian people for forgiveness that I came to their land with a gun in my hand,” he said. Read the full story here. The CIA assesses that the next six months will be “absolutely crucial” in determining the final outcome of the war in Ukraine, agency Director Bill Burns said Thursday. “I think what’s going to be the key — because we do not assess that (Russian President Vladimir Putin) is serious about negotiations — the key is going to be on the battlefield in the next six months, it seems to us,” Burns said, addressing an audience at Georgetown University. That includes “puncturing Putin’s hubris, making clear that he’s not only not going to be able to advance further in Ukraine, but as every month goes by, he runs a greater and greater risk of losing the territory he’s illegally seized so far.” The Russian leader, Burns said, is “betting that he can make time work for him.” Putin believes that he can “grind down” Ukraine, while political fatigue will grip Europe and the United States will become distracted, Burns said. But Burns said he told one of his Russian counterparts, Sergey Naryshkin, in November that “that Russian calculation is as deeply flawed as the original decision to go to war last Feb. 24 was.” Ukrainian President Volodymyr Zelensky said he reached "important mutual understandings" with the president of the European Commission regarding Ukraine’s bid for accession into the European Union. Zelensky said he had productive talks with the commission leader, Ursula von der Leyen, and members of the College of the European Commission Thursday. The talks showed that all parties understood "the fact that Ukraine needs constant and full support in defense against Russia," the Ukrainian president said in his evening address Thursday. "And about the fact that our further integration should give energy and motivation to our people to fight despite any obstacles and threats. I believe that Ukraine deserves to start negotiations on EU membership already this year," he added. Zelensky thanked von der Leyen and her colleagues in the EU for the military, financial and social support of Ukraine "on the path of integration." Kyiv will host the 24th EU-Ukraine summit Friday. European leaders plan to discuss financial and military support for the Ukrainian resistance against Russian aggression. More background: The European Commission is the EU's executive arm, made up of one leader from each member state, which is responsible for proposing and enforcing legislation. Leaders of the 27 EU member states have given Ukraine candidate status, starting the process for formally considering granting the country membership. It is still likely to be years before Ukraine is able to join the EU. The process is lengthy and requires agreement from all the member states at almost every stage. This means that there are multiple opportunities for member states to use their veto as a political bargaining chip. The average time it takes to join the EU is just under five years, according to the think tank UK in a Changing Europe. However, some member states in eastern Europe have had to wait as long as 10 years. Zelensky has said his government is working on new reforms that will make Ukraine “more human, transparent and effective” as he prepares for further talks on the country’s possible addition to the bloc. That includes a push to tackle corruption. A spokesperson for the commission said last month that anti-corruption measures are “an important dimension of the EU accession process." CNN's Luke McGee contributed reporting to this post. The US is expected to include longer-range missiles in a new Ukraine security package worth approximately $2.2 billion, according to a senior administration official and multiple US officials. The package will include a commitment to provide Ukraine with the Ground-launched Small Diameter Bomb, a guided missile with a range of 90 miles (145 kilometers), two officials said. Though the missiles will effectively double the range of Ukrainian weaponry, the package won’t include the long sought-after ATACMS missile with a range in excess of 200 miles. The US has constantly rebuffed Ukraine’s requests for that system over concerns they may be used to hit targets deep inside Russia. This is the first security package since the US committed to providing Ukraine with advanced M-1 Abrams tanks in January — a decision made in concert with European countries providing German-made Leopard 2 tanks. The package, which could be announced as early as Friday, will be split between $500 million in weapons and equipment pulled directly from US inventories and approximately $1.7 billion in supplies purchased from military contractors, known as the Ukraine Security Assistance Initiative (USAI). Details of the package were first reported by Reuters. On Tuesday, White House spokesperson Olivia Dalton said there would be another announcement of security assistance to Ukraine “soon” without providing further details. Some background: The Ground-launched Small Diameter Bomb, which is fired from a HIMARS rocket launcher, has an effective range of some 90 miles, according to Saab, the company that developed the weapon in conjunction with Boeing. That’s more than twice the range of the GMLRS munitions that Ukraine currently launches from the HIMARS rocket launchers. The long-range missile then unfolds small wings and uses a rocket engine to fly toward its target. But the new weapon will not arrive in Ukraine immediately, since it will not come directly out of US inventories. Instead, the US will contract with the weapons manufacturers to provide the long-range missile to Ukraine, a process which could take weeks or months. The package also includes ammunition for artillery and HIMARS, as well as support systems and equipment for the Patriot missile system, one official said. Ukrainian forces have not completed training on the Patriot system at Fort Sill, Oklahoma — but the US is making sure the logistics and maintenance are in place well before the first Patriot battery is operational in Ukraine, the official said. Within the last month, the US has announced three of the largest aid packages to Ukraine in a sign of ongoing support as the war nears its one-year mark. Russian forces are preparing for a "covert mobilization" in the eastern Donetsk region, the General Staff of the Armed Forces of Ukraine said Thursday on its official Facebook page. "In the temporarily occupied territories of the Donetsk region, Russia is preparing for covert mobilization. In particular, in the city of Horlivka, all budget and communal institutions were ordered to submit lists of necessary persons to the occupation military commissariat. All these people will be examined by special commissions of the enemy, with subsequent conscription into the ranks of the enemy," it said in the statement. Russian forces continue "active reconnaissance and preparation for an offensive in several directions,” it said, adding that "offensive operations" continue toward Lyman, Bakhmut, Avdiiv and Novopavliv. For context: Ukrainian officials have repeatedly warned that Russia planned on using its claimed annexations as a pretext to draft Ukrainians in occupied areas. In October, the military said Russian forces were carrying out “door-to-door” checks in occupied areas, looking for young men of conscription age. Ukraine's defense minister said the country will provide guarantees that it would not strike Russia should it receive the long-range missiles it has been asking its allies for. “As Ukraine needs long-range missiles that will not allow the enemy to maintain defenses and force them to lose, it is ready to coordinate targets with partners," Ukrainian Minister of Defense Oleksii Reznikov said at a meeting with the European Commission Thursday, state media Ukriniform reports. Reznikov called on other countries to help Ukraine establish anti-missile defense capabilities. He emphasized the need to get Patriot and SAMP/T systems at the first opportunity, along with more IRIS-T and NASAMS, which are both air defense systems. "If we had the opportunity to strike at a range of 300 kilometers (about 186 miles), the Russian army would not be able to maintain defenses and would be forced to lose. Ukraine is ready to provide any guarantees that your weapons will not be involved in attacks on Russian territory. We have enough targets in the temporarily occupied territory of Ukraine and are ready to coordinate targets with our partners," he said. Ukraine also needs to increase the amount of artillery, shells and weapons capable of surpassing and destroying Russian e-warfare and air defense systems, he added. Ukraine will receive Western battle tanks after a long negotiation and is seeking fighter jets to push back against Russian and pro-Moscow forces. A fresh barrage of missiles ripped through the city of Kramatorsk in eastern Ukraine Thursday, sending flames and thick plumes into the air as screaming civilians scrambled to find shelter. A CNN team had just arrived at the scene and heard the first incoming strike on Kramatorsk. CNN saw the second attack, with two impacts about one minute apart. Two women jumped from their car and ran yelling while other civilians took shelter wherever they could. Shrapnel bounced off the blastproof glass of one CNN vehicle. Paramedics rushed to the scene to treat at least one wounded civilian. Kramatorsk Mayor Oleksandr Honcharenko also confirmed that there had been a strike on the city, and urged residents to stay in bomb shelters. At least five people were wounded in Thursday’s attack, according to Pavlo Kyrylenko, the head of the Donetsk region military administration. “They damaged 13 two-story buildings, three four-story buildings, a children’s clinic and school, garages and cars,” Kyrylenko said. “Russians confirm their status as terrorists every day,” he said. Read more here.