⬅ # 12 Mukesh Ambani|# 14 Carlos Slim Helu

# 13 Michael Bloomberg 

$105B

Real Time Net Worth
as of 5/21/2024

# 13 Michael Bloomberg 

$105B

Real Time Net Worth
as of 5/21/2024
OccupationCEO, Bloomberg
Source of WealthBloomberg LP
Age82
ResidenceNew York, New York
Marital StatusIn Relationship
Children2
EducationMBA, Harvard Business School; BS, Johns Hopkins University
Age-Adjusted Net Worth$23.9B
Michael Bloomberg
Michael Bloomberg
United States
Net worth: $105B

Self-Made Score 

Wealth History

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Biography

Michael Rubens Bloomberg was born on February 14, 1942, in Boston, Massachusetts.
In 1981, Bloomberg co-founded Bloomberg L.P., a global financial services, data, and media company, initially focusing on providing real-time financial information through innovative computer terminals.
Under Bloomberg's leadership, the company expanded its offerings to include news, analytics, and other financial services, becoming a major player in the financial information industry.
Bloomberg served as the Mayor of New York City for three terms, from 2002 to 2013, focusing on issues such as public health, education, and economic development.
During his tenure, Bloomberg implemented various initiatives, including the ambitious PlaNYC sustainability program and the introduction of the 311 helpline for non-emergency city services.
Bloomberg is known for his philanthropy, with substantial donations to causes such as public health, education, and the arts.
In 2001, he established Bloomberg Philanthropies, which supports projects globally, including the fight against tobacco use, efforts to combat climate change, and initiatives to improve public health.
Bloomberg briefly ran for the Democratic nomination in the 2020 United States presidential election.

How long would it take you to become as rich as Michael Bloomberg?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Michael Bloomberg's net worth of $105B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

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Michael Bloomberg is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Michael Bloomberg, Bloomberg LP is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey