Bloomberg L.P.
Russian/Lithuanian-Jewish parents → USA
Finance, Banking & Insurance
Summary
Bloomberg L.P. was founded in 1981 by Michael Rubens Bloomberg, born in 1942 in Boston to William Henry Bloomberg, a son of Russian-Jewish immigrants from the Vilna region, and Charlotte Rubens, American-born of Russian-Jewish parents. After being fired from Salomon Brothers with a $10 million severance, Bloomberg used the capital to build a financial-data terminal that integrated real-time market prices with analytics and messaging. By 1990 Bloomberg Terminals were on every Wall Street trading desk. The company expanded into news, television, and publishing. Bloomberg himself served three terms as mayor of New York City (2002–2013).
European Contribution
Eastern European Jewish intellectual and entrepreneurial traditions, transmitted through immigrant family heritage.
American Impact
Created the dominant financial-data terminal globally and the financial-news ecosystem that depends on it.
Timeline Highlights
- 1942 Michael Bloomberg born in Boston
- 1981 Founds Innovative Market Systems
- 1986 Renamed Bloomberg L.P.
- 1990 Bloomberg News launched
- 2002–2013 Bloomberg serves three terms as mayor of New York City