⬅ # 565 Peter Gilgan|# 567 Russ Weiner

# 566 Thomas Secunda 

$5.41B

Real Time Net Worth
as of 6/14/2024

# 566 Thomas Secunda 

$5.41B

Real Time Net Worth
as of 6/14/2024
OccupationCofounder and Vice Chair, Bloomberg L.P.
Source of WealthBloomberg LP
Age69
ResidenceCroton-on-Hudson, New York
Marital StatusMarried
Children2
EducationBS, SUNY Binghamton
Age-Adjusted Net Worth$2.94B
Thomas Secunda
Thomas Secunda
United States
Net worth: $5.41B

Self-Made Score 

Wealth History

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Biography

Overview

Thomas Secunda, born in 1954 in Bethpage, New York, is an American billionaire businessman and one of the four co-founders of Bloomberg L.P.
He is best known for his pivotal role in building Bloomberg's financial products division, particularly its highly profitable terminal business.
Secunda holds a 4% stake in Bloomberg LP and serves as the global head of Bloomberg’s Financial Products and Services, overseeing a staff of 6,000.
Secunda has signed the Giving Pledge, committing to donate the majority of his wealth to charity.
He played a significant role in spearheading recovery efforts in the U.S. Virgin Islands following devastating hurricanes in 2017.

Early Life

Born in 1954 in Bethpage, New York.
Graduated from Binghamton University with bachelor's and master's degrees in mathematics.
Secunda is of Jewish descent.

Career

Began his career as a programmer, later transitioning to a fixed-income trader at Morgan Stanley.
Worked as a systems researcher at Salomon Brothers, where he collaborated with Michael Bloomberg.
Co-founded Innovative Market Systems in 1982, later renamed Bloomberg L.P. in 1987, alongside Michael Bloomberg, Duncan MacMillan, and Charles Zegar.
Serves as the global head of Bloomberg’s Financial Products and Services, driving 85% of the company’s estimated $7 billion in revenue.
Appointed vice chairman of Bloomberg L.P. in July 2011.
Oversees a global staff of 6,000 in his role at Bloomberg.

Philanthropy

Signatory of the Giving Pledge with his wife Cindy, committing to donate the majority of their wealth to charity.
Primarily supports organizations focusing on National Parks, local parks, conservation, healthcare, and Jewish causes.
Deeply involved in reconstruction efforts in the U.S. Virgin Islands after the 2017 hurricanes.
Appointed chairman of the National Parks Conservation Association in 2011.
Sits on the board of trustees for the Intrepid Museum Foundation and the board of directors of the Manhattan Theater Club.
Received the Simon Wiesenthal Center's award for his philanthropic work in 2012.

Personal Life

Lives in Croton-on-Hudson, New York, with his wife Cynthia "Cindy" Cohen and their two daughters.
Cindy is also of Jewish descent.

Bloomberg L.P.

Co-founded Bloomberg L.P. in 1981 with Michael Bloomberg, Duncan MacMillan, and Charles Zegar.
Began as Innovative Market Systems, later renamed Bloomberg L.P. in 1987.
Developed the Bloomberg Terminal, which became the core revenue-generating product, accounting for an estimated two-thirds of Bloomberg LP's more than $13 billion in revenue.
Expanded into financial software tools, data services, and media, including Bloomberg News, Bloomberg Television, Bloomberg Radio, and publications like Bloomberg Businessweek and Bloomberg Markets.
Has 176 locations and nearly 20,000 employees globally.
Michael Bloomberg owns the majority stake in the company.

How long would it take you to become as rich as Thomas Secunda?

If you started with $10,000 and invested an additional $500 each month at a 43.94% CAGR, it would take you 5 years to reach Thomas Secunda's net worth of $5.41B.

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 43.45% compared to 12.43% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Thomas Secunda 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 Thomas Secunda, 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