Michael Bloomberg: The story of High Risk factor

michael-bloomberg-the-story-of-high-risk-factor
Pic: wikimedia.org

One might achieve success without taking any risks, but with them, a wondroud story is made. This is the reason why Michael Bloomberg is today renowned, not only as a proficient entrepreneur, but also as one of the most impactful mayors of the New York City. This is just the opposite of where he started from. Born into a middle class family. Michael Bloomberg put himself through many risk phases and became what he is today. A billionaire businessman and a three term mayor of New York City wasn’t easy to become.

Here is his story in short summary.

Early life and Education

Michael Rubens Bloomberg was born in Boston, Massachusetts. The son of a bookkeeper, Bloomberg put himself through Johns Hopkins University and Harvard University, where he earned a Master of Business Administration degree.

First career stage

After pursuing MBA, he was followed by the first job at Salomon Brothers, as an entry-level employee. While overseeing sales and equity trading, he headed to the information system of the company, rising rapidly across ranks.

The loss of job

Unfortunately, he had to lose his job when the Phirbo Corporation purchased the firm and terminated him with a severance package amounting in millions. Michael Bloomberg was determined of not taking other jobs after this and unlike others, he decided not to continue with any next job.

Own start-Up

Discontinuing the search for any new job, Michael Bloomberg used his IT vision gained from his first job and utilized the funds to establish a start up firm, Innovative Market Systems. This in a single-room office.

Michael’s Mission

The company was built around a financial information computer that revolutionized the way securities data was stored and consumed and Michael’s mission was to bring efficiency and transparency in the sale and purchase of financial securities.

Success Rate

Form serving his very first computer, the business keep expanding and was enormously successful and soon branched into the media business with more than a hundred offices worldwide. The lead to the formation of a giant firm had begun.

Political Arena

Bloomberg entered the political arena when he won election as the mayor of New York City. Considered a liberal Republican turned Independent, Bloomberg is pro-choice and favored legalizing same-sex marriage. He established telephone line that put callers in contact with the city.

The third-time Mayor

Controversially, Bloomberg was able to push through legislation allowing him to run for a third term as mayor, citing that the particularly difficult economic climate and his financial skills warranted his remaining in office.

During Tenure

During his tenure as the Mayor, he raised the standard of education in the city by working on a broken system of public schools. Also, he stimulated economic growth, entrepreneurship and job creation by supporting old industrial areas, small businesses and others.

Quote

There will be ups, there will be downs, there will be sideways. I can just tell you I have been hired, I have been fired, I have been lauded, I have been vilified. But each day I looked forward to because I’ve always believed that tomorrow was going to be the best day of my life.


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