Ex-New York City Mayor Michael Bloomberg will return to Bloomberg L.P. as CEO of the company he founded in 1981. In recent weeks he’s been spending more and more time at the Bloomberg headquarters, the Bloomberg Tower at 731 Lexington (see below). It was agreed that current CEO Dan Doctoroff would retire at the end of the year and Mike (as he’s generally called) would take over the top spot. How do I know this? I read it in The New York Times, not in Bloomberg, which has had an ongoing policy of not writing about its boss while he was Mayor.
Okay, I’m going to date myself. I remember when Bloomberg was a new invention, on par with CNN (we called it Chicken Noodle Network). We’d squire clients to Bloomberg and Mike would be there pacing the halls like a manic entrepreneur. The story of Bloomberg is legendary. Mike took his $10 million severance from Solomon Brothers and launched Bloomberg to get valuable, real-time information to Traders and Wall Street. Merrill Lynch bought the first 22 Bloomberg terminals. Today there are 315,000 Bloomberg terminals out there, at about $20K annual fee each. Michael Bloomberg has a net worth of approximately $33 billion.
The Bloomberg Tower was completed in 2004. Paul Goldberger, in the Aug. 6, 2007, issue of New Yorker magazine, lauded the Bloomberg offices as “a newsroom truly designed for the electronic age … a dazzling work environment tucked inside a refined but conventional skyscraper.”
Clients are amazed when they first visit Bloomberg. What’s it like inside? Take a fun tour in the video below.