Michael Bloomberg is the majority owner and co-founder of Bloomberg L.P. He was a three-term New York City Mayor from 2002 to 2013 and was a candidate for the 2020 Democratic nomination for the United States president. According to Forbes, Bloomberg is the 16th-richest man globally, with a net worth of $USD 59 billion as of March 13, 2021.
He got his start in 1966 on Wall Street at the securities brokerage Salomon Brothers selling stocks. He rose to become a general partner at the firm but was fired in 1981, after Phibro Corporation bought Salomon Brothers. Bloomberg was paid $10 million for his equity stake in Salomon Brothers, and he used the windfall to start his firm Bloomberg L.P.
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. The firm is known for its Bloomberg Terminal. The company has 167 locations and nearly 20,000 employees.
“There are many reasons why some succeed and others don’t, why some just continue to grow and others spurt up and, as quickly, collapse. Three things usually separate the winners from the losers over the long term: time invested, interpersonal skills, and plain old-fashioned luck.”