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 This page is no longer being updated.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
Mexico makes agreement with US to deport migrants from its border cities amid ongoing surge in illegal migration
Updated 9:05 PM ET, Sat Sep 23, 2023
Mexico has made an agreement with the United States to deport migrants from its border cities to their home countries and take several actions to deter migrants as part of a new effort to combat the recent surge in border crossings. Mexican officials met with US Customs and Border Protection officials on Friday in Ciudad Juárez,, Mexico, which is across the border from El Paso, Texas, following the recent spike in illegal crossings into the US, which temporarily closed an international bridge and paused Mexico's main cargo train system. As part of the agreement, Mexico agreed to "depressurize" its northern cities, which border the El Paso, San Diego and Eagle Pass, Texas, where the mayor has declared a state of emergency. They will also implement more than a dozen actions to prevent migrants from risking their lives by using the railway system to reach the US-Mexico border, according to Mexico's National Migration Institute. The US Department of Defense is ramping up resources at the US-Mexico border, sending at least 800 new active-duty personnel to the border, where 2,500 National Guard members are already servicing, Department of Homeland Security officials announced Wednesday night in a call with reporters. An overflow shelter in northeast El Paso, where about 6,500 migrants are in custody, planned to open its doors Saturday evening as the city faces an unprecedented surge of migrants crossing the southern US border, Deputy City Manager Mario D'Agostino said in a news conference. The shelter, which will operate out of the Nations Tobin Recreation Center, has been prepped over the "last couple weeks," D'Agostino said. The facility can hold about 400 people. El Paso is receiving more than 2,000 additional migrants every day, D'Agostino said, and the city is expecting a "large influx" over the next few days. Migrant crossings along the border are rising, surpassing 8,600 over a 24-hour period this week, according to a Department of Homeland Security official. It is up from around 3,500 daily border arrests after the expiration in May of Title 42 triggered new consequences for those who cross the border illegally. There were more than 8,000 apprehensions on Monday. The busiest sectors are Del Rio, El Paso, Lower Rio Grande Valley and Tucson; each facing more than 1,000 encounters over the last 24 hours, according to the official. Eagle Pass is in the Del Rio sector. Friday's meeting was attended by Customs and Border Protection's Acting Commissioner Troy Miller, the commissioner of Mexico's National Migration Institute, the governor of the Mexican state of Chihuahua, members of Mexico's national defense and national guard and representatives of Ferromex, a Mexican railroad operator, according to the institute. Mexico agrees to take 15 actions Mexican officials vowed to carry out a series of 15 actions as part of the agreement, some in coordination with Customs and Border Protection and Ferromex, which includes deporting migrants to their home countries by land and air. The country said it will carry out negotiations with the governments of Venezuela, Brazil, Nicaragua, Colombia and Cuba to confirm receipt of their citizens deported from the US-Mexico border. It will also allow US border patrol agents to expel migrants through the Ciudad Juárez international bridge, which connects to El Paso. Other terms of the agreement include submitting a daily report of the number of migrants on the train system to Customs and Border Protection's El Paso sector, establishing checkpoints along the Ferromex rail route and conducting interventions on railways and highways, according to Mexico's National Migration Institute. The institute said Mexico had deported more than 788,000 migrants to their home countries from January 1 to September. The agreed-upon actions by Mexican officials raise questions about the country doing work typically designated for the US -- from the south of the border -- to manage the influx of migrants in recent weeks, which have has strained federal resources and overwhelmed already-crowded facilities, CNN previously reported. Many who leave their homes for the United States face long and dangerous treks in hopes of finding better, safer lives. Some may flee violence, while others may immigrate for economic opportunities or to reunite with family, experts say. Deteriorating conditions in Latin America exacerbated by the coronavirus pandemic also have contributed to the influx of migrants into the US. It is likely the number of border crossings will continue to increase, as more Mexican nationals are making plans to come to the US, Ariel Ruiz Soto, a senior policy analyst at the nonpartisan Migration Policy Institute in Washington, told CNN. US government data show more Mexican families coming to the border, likely to seek asylum, Ruiz said. In July 2022, for example, Customs and Border Protection figures indicate 4,000 Mexican family encounters at the border. A year later, the number had more than quadrupled, reaching nearly 22,000. "These are the three levers that are in play right now. ... And regardless of what the Biden administration does today or tomorrow," he says, "the people that are on the way already are going to continue, unless something else happens in the region."