Michael Bloomberg Absence from Bloomberg Billionaires Index
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Forbes’ recent release of the world’s billionaires list has highlighted a curious omission from another prominent index: Michael Bloomberg, the founder of Bloomberg LP, is notably absent from the Bloomberg Billionaires Index. This absence has sparked discussions regarding the methodology and implications of such a decision.
Forbes’ Ranking Dosent have Michael Bloomberg:
Forbes positioned the 82-year-old founder of Bloomberg LP in the 12th spot, estimating his fortune at $106 billion as of March 8. This ranking places Bloomberg ahead of notable figures like Amancio Ortega and Carlos Slim Helu, underlining his substantial wealth and influence in global finance.
The methodology of the Bloomberg Billionaires Index sheds light on Bloomberg’s exclusion. The index does not consider Michael Bloomberg due to Bloomberg News’ editorial policy, which refrains from covering Bloomberg LP to avoid conflicts of interest. Consequently, the index overlooks the financial data tycoon responsible for its creation.
Growing Discrepancy:
Bloomberg’s wealth has surged over the years, tripling from $35.5 billion in 2015. His absence from the Bloomberg Index becomes increasingly conspicuous, especially considering his wealth surpasses that of influential figures like Jensen Huang and significant corporations like CVS Health and Mondelez.
Michael Bloomberg Wealth Origins:
Bloomberg’s substantial fortune primarily stems from his 88% stake in Bloomberg LP, a company he founded following his departure from Salomon Brothers in the early 1980s.
His entrepreneurial success, political career, and philanthropic endeavors solidify his status as a significant player in global affairs.
Philanthropy and Influence:
Besides his business ventures, Bloomberg’s philanthropic initiatives, totaling over $17 billion, underscore his commitment to causes such as gun safety, climate change, and higher education.
His influence extends beyond financial realms, as evidenced by his tenure as New York City’s mayor and his presidential candidacy in 2020.
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Tony Boyce is a seasoned journalist and editor at Sharks Magazine, where his expertise in business and startups journalism shines through his compelling storytelling and in-depth analysis. With 12 years of experience navigating the intricate world of entrepreneurship and business news, Tony has become a trusted voice for readers seeking insights into the latest trends, strategies, and success stories.
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