The Source of Bloomberg's Big Bucks

American Thinker.com ^ | February 25, 2020 | Jon N. Hall

[Kaslin]

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 product: the Bloomberg Terminal, a computer system widely used by the financial-services industry. In December, Vox ran “How Mike Bloomberg made his billions: a computer system you’ve probably never seen” by Emily Stewart. To subscribe to Bloomberg Terminal, go to the Bloomberg Professional Services division of the company, but know that it will set you back about “$20,000 to $25,000 per seat per year for fast access to information and the tools available with the proprietary trading platform.”

[Kaslin]

Bloomberg is greatly mistaken if he thinks he can buy the election. he American voters might be stupid, but they aren't that stupid.

[Liz]

The source of his wealth is..... "the Bloomberg Terminal"......a computer system widely used by the financial-services industry
who pay “$20,000 to $25,000 per seat per year for fast access to information and the tools available with the proprietary trading platform.

Bloomberg once bragged to his staff he even coded "the Bloomberg Terminal" to give blow jobs, which he said "puts you girls out of business."

[Wuli]

The article has a simple point to make - the Bloomberg terminal - which it does, early. Then it expends way too much time and text talking about irrelevancies in terms of the main subject - how Bloomberg has made his money.

[babble-on]

The Bloomberg terminal completely changed the financial markets.