Michael Bloomberg is reportedly planning to run for president. Here's how the 8th-richest person in the US and former NYC mayor makes and spends his $52 billion fortune.

Katie Warren

November 11, 2019 4:04 PM

REUTERS/Brian Snyder

Billionaire media mogul and former New York City mayor Michael Bloomberg is preparing to join the 2020 Democratic presidential primary, The New York Times reported on Thursday.

Former New York City mayor Michael Bloomberg has a net worth of $52.4 billion, according to Forbes .
On November 7, The New York Times reported that Bloomberg is making a late entrance into the 2020 Democratic primary field.
The billionaire philanthropist is the richest person in New York and the eighth-richest person in America.
He cofounded media company Bloomberg LP , a company that now brings in $10 billion in annual revenue.
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With his $52.4 billion fortune, former New York City mayor Michael Bloomberg is the richest person in New York.

Though his 12-year run as mayor ended in 2013, the billionaire remains as busy as ever and is spending plenty of money as he goes. After all, he once said he hopes to give away his entire fortune before he dies.

From his early days working on Wall Street to his generous philanthropic donations, here's how Bloomberg made and spends his billions.

See the rest of the story at Business Insider

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