Michael Rubens Bloomberg, the unusual billionaire
In today's world, there are very few people willing to take unpopular measures for a good cause.
Most politicians, financial magnates, and famous traders are populists, and all their actions are aimed at boosting their own popularity.
One of the rare exceptions is Michael Rubens Bloomberg, the billionaire owner of the eponymous news agency, mayor of New York City from 2001 to 2014, and UN envoy on cities and climate change.
He has repeatedly proven his integrity and has done much good for New York and the global community as a whole.
His example proves that even rich and famous traders can be good people, as his actions were not always motivated by profit.
Brief biography.
Michael's story is fairly commonplace and hardly distinguishable from the biographies of most successful people.
The future financier was born on February 14, 1942, to a family of middle-class Jewish immigrants from Russia. His strong academic record helped him first graduate from university and then from Harvard Business School.
It's worth noting that he wasn't particularly gifted, and he only managed to obtain a good education through hard work.
Later, Bloomberg answered this way when he was asked what the secret of his success was: “I just worked harder than that guy.”.
Michael began his career at Salomon Brothers, a fairly well-known securities trading firm at the time. This job laid the foundation for his future career.
After Salomon Brothers was acquired by new owners, Rubens was laid off, but it was this event that enabled him to become who he is today.
Working there for 15 years, Michael not only gained extensive experience but also accumulated $10 million in seed capital to start his own business.
This business was the company Bloomberg LP, which provided information and analysis on financial markets. As we know, anything related to money always brings in good money.
Bloomberg didn't just create another news agency; it developed a computerized analysis system. Bloomberg LP was the first company to use computers in this field.
Currently, the agency employs 10,000 people, and its news is subscribed to by approximately 300,000 financial professionals.
Political career
After achieving financial security, Michael decided to enter politics, the first step being his election as New York City Mayor, which he subsequently won reelection to.
Michael Rubens Bloomberg served three terms in office, achieving significant results for the city in such a short period.
During his tenure, crime fell by more than 20%, unemployment dropped significantly, and the city budget stabilized for the first time in many years.
He also drastically reduced government spending, most notably by cutting his own salary to $1 per month.
In 2014, Michael resigned from his post and began serving as a UN representative.
The secret of business
Bloomberg believes the key to his success is his lifelong commitment to a field he understands and has experience in.
He acknowledged that while there are more successful traders, managers, and programmers in the world, there are virtually no people skilled in creating programs that facilitate financial analysis. At least, that was the case in the 1980s and 1990s.
In fact, Michael's main fortune wasn't made on the stock market, but rather by trading information useful to traders and financiers. However, it was stock trading that provided the seed capital for his successful business. His
athletic pursuits played a significant role in his career, as it was while jogging that the future magnate would come up with his most interesting ideas and develop his grandiose plans.
Michael Rubens Bloomberg's net worth is currently estimated at $62 billion, making him one of the richest people in the world. He regularly donates large sums to charity and education.
