There are not many politicians in the world, who also boast the status of a dollar billionaire. Remembering Europe, Silvio Berlusconi immediately comes to mind. But America has its own Berlusconi, whose name is Michael Bloomberg.
A real financial Mogul and a very successful mayor, loved by all New Yorkers. The first confirms the fact, that Bloomberg is one of the richest Americans on the Forbes list. And about the success of Bloomberg, how does politics say that, that the New York City Legislative Council allowed him to run for mayor for the third consecutive time..
Working for an "uncle" as a way to earn start-up capital
Michael Bloomberg was born 14 February 1942 of the year in Boston. His parents were never very wealthy – his father worked as an accountant., and the mother was a secretary. That's why Michael had to earn money at a gas station., to continue his studies at Johns Hopkins University. IN 1964 The University was completed, and Michael became a bachelor in electrical engineering. That was the beginning.. Two years later, Bloomberg became a graduate of Harvard.. He got an MBA., becoming a Master of Business Administration. Ie. Michael received a brilliant education, combined in itself, as a technical, and the business part. After receiving an MBA, Bloomberg gets a job at Salomon Brothers, engaged in finance. Here Michael managed to make a career quite quickly.. He became a full partner of the company (having received her shares for this) and was appointed Chief information systems manager. It was done for a reason.. By his education, Michael was a great fit for this position.. For that simple reason, that he was a techie. Fast enough unit
Bloomberg began to work at full capacity, but Michael was not destined to reap the laurels of his success for a long time.. It's all about, that Salomon Brothers merged with Phibro, engaged in oil trade at that time, metal and various agricultural products. And any merger, as known, is associated with a reduction in staff. Unfortunately, Bloomberg just fell under such a reduction. (Really, according to another point of view, he was too active and simply did not suit the management of the new company.). Job loss didn't depress Bloomberg. Rather the opposite. It opened up new opportunities for him.. Michael understood, where you can earn and he has a firm confidence in that, that he can do it.. Fortunately, the start-up capital for this was. It was only necessary to sell the shares of his former employer., which resulted in several million dollars.
Business
Bloomberg's idea was that, to provide information services to various companies, related to finance. To do this, Michael organized his company., inviting three former Salomon Brothers employees, who have been dismissed, like himself. Then in the market the clear leader in this area was Reuters.. But Bloomberg had the opportunity to outdrup the brainchild of Julius Reiter..
An era of ubiquitous computerization was brewing. And you just had to use the revolution to the maximum advantage for yourself. (it is worth noting, that Reuters was not a company, completely ignoring high technology, otherwise this agency would not be thriving today.). so, in 1981 Innovative Market Systems was born, which will be renamed Bloomberg LP in the future. At the same time, the start-up capital of the company was 10 million dollars. The idea was, to provide various business information to companies, including financial. But doing it differently than other companies at the time is chaotic., a structured, highlighting current trends.
Merrill Lynch
The first client of Michael Bloomberg's company was the famous investment bank Merrill Lynch. At the same time, the story of, how Bloomberg persuaded Merrill Lynch to become his client is a real business legend. Michael personally visited the office of the investment bank, presenting there a business plan for your company. He fully painted his future product., then offered the company a trial version, so that Merrill Lynch evaluates the potential of the brainchild of Innovative Market Systems. That's how Bloomberg's first information terminal ended up in the bank..
Merrill Lynch loved this device so much, almost instantly collecting information from the stock market, that the bank decided to order 20 such terminals. So Michael Bloomberg had his first client and... investor. Merrill Lynch will soon acquire 20% Innovative Market Systems for 30 million dollars. This money will be very useful for the company., as they will accelerate development. Maybe, it is worth noting, which terminals are we talking about?. You could all see them in the photos., related to the stock market.
Bloomberg Professional
To date, Bloomberg Professional terminals are present in almost all financial companies, which requires such devices. It's kind of a corporate standard., like Microsoft Windows in the operating system market. At the same time, the Bloomberg Professional system has shown its reliability and functionality over time., thereby confirming the highest quality of the product.Of course, dissemination of business information is impossible without a serious staff of journalists.
To solve this problem, Bloomberg signed a contract with Dow Jones., according to which his company could use materials from The Wall Street Journal in its network. Alliance with Dow Jones continued until 1990 of the year, when the latter unexpectedly broke the contract for everyone. No one knows about the cause until now.. Howbeit, but Bloomberg had to organize his editorial staff. Roughly speaking, you had to hire people, able to write. Michael coped with this task., paying attention to young people. It was a rather unexpected move..
Bloomberg did not look for experienced and expensive specialists, and hired talented graduates. Soon Bloomberg LP has a huge staff of employees, who today work all over the world, supplying your network with all the necessary information. The organization of such a state demanded the introduction of new services. And they didn't take long to wait..
Radio station
Bloomberg acquired a radio station, opened his television channel on the topic of finance and website, which today is the center of global financial analytics. Gradually, Bloomberg LP occupied an increasingly important place in the financial analytics market.. Today, it has a strong position in several directions at once.. Firstly, Michael Bloomberg's company has a division of Bloomberg Professional, supplying financial companies with their expensive terminals (for the lease of such a device for one month will have to pay 1,5 thousands of dollars).
Bloomberg Television
Secondly, the company has a division of Bloomberg Television, a major television network, dedicated to finance. The company has its own publishing house, currently engaged in such projects, as Bloomberg Press, Bloomberg Persona Finance and Bloomberg Markets. There is in the empire of the current mayor of New York and his own radio, and even a full-fledged news agency. AND, certainly, the Internet is not forgotten, where the resource of bloomberg.com dominates. Today, Bloomberg LP is one of the leading providers of financial news worldwide.. Works in the company 9,5 thousands of people, employed in 130 cities. All in all, it's safe to say, that Bloomberg's business was a success. Only now Michael himself has recently been spending less and less time on him.. And it's all about, that the latest 8 years of its main activity is the management of one of the largest cities in the world - New York, of which he is the mayor. Michael pays active attention to charity.
Charity
Over the past few decades, he has been a member of numerous nonprofit organizations., and even served as chairman of the board at their home Johns Hopkins University.. Before the crisis, Michael Bloomberg was ranked 8th in the list of the richest Americans according to Forbes magazine, having a state in 20 billion dollars. A crisis, certainly, reflected on Bloomberg, but not so much, as on other entrepreneurs. According to the same Forbes, the mayor of New York lost 4 billion dollars, but retained the 8th place in the ranking of the wealthiest Americans.
Politics
IN 2001 Michael Bloomberg was elected mayor of New York City. In many ways, he managed to take this post for two reasons.: he had solid financial resources, allowed him to conduct a large-scale advertising campaign (Michael Bloomberg personally invested in his election campaign 41 million dollars), the second important point was that, that Bloomberg was supported by the previous mayor of New York, Rudolph Giuliani, whose word meant especially much after the terrorist attacks 11 September. Need to say, that Bloomberg immediately began to work actively as mayor and his first decrees were, to put it mildly, not the most popular.
So, he banned street trading, smoking in public places (bars and cafes), reduced the costs of the administration and at the same time increased taxes. It seemed, that he would not see a second term, but the city's economy began to grow, crime decreased by 20%, and the situation in school education began to improve.. All in all, Bloomberg showed, which is an excellent candidate and was elected for a second term. During this time, Michael achieved this, that managed to balance the city budget and seriously reduce the unemployment rate. The results were on the face. Therefore, there is nothing surprising in the fact that, that the New York City Legislative Council allowed Bloomberg to run for mayor for the third consecutive time.
Why not?? Pity, that in our country there is no such alloy of politics, entrepreneur and public figure. Although the second and third are already there., but there are clearly problems with the former.. Maybe, in the future the situation will change. At least, let's hope so. And we wish Michael Bloomberg success in his third term. (you doubt, that he will be chosen?).
P.S. Bloomberg's departure into politics did not lead to this., that he had completely stopped doing business.. Strategic decisions in his company, he still makes independently.
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