The Source of Bloomberg's Big Bucks

As of November 2019, Democrat presidential candidate Michael Bloomberg was “the 12th richest person in the world, with a net worth estimated at $61.8 billion.” That quote came from this paragraph, which also gives one a sense of how quickly Mr. Bloomberg’s net worth has grown. On Valentine’s Day 2020, Forbes’ profile listed Bloomberg as the 8th richest person in America, and the magazine’s “real time net worth” gizmo calculated his wealth at $62.8B. Pretty soon we’re gonna be talking “real money.” In March of 2009, Forbes pegged Bloomberg’s wealth at $16B, a $4.5B bump-up from the previous year, and “the world's biggest increase in wealth in 2009.” And that, mind you, happened during the financial crisis. Do a little math, and one sees that since 2008 Michael Bloomberg’s wealth has more than quintupled. But just how did Mr. Bloomberg amass so much money? Well, it seems Mike has a...(Read Full Article)
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