Bloomberg L.P.: Difference between revisions

| image = Bloomberg towerTower 001.jpg

| type = [[Privately held company|Private]], [[limited partnership]]

* [[Michael Bloomberg]]

* [[Thomas Secunda]]

* [[Duncan MacMillan (businessman)|Duncan MacMillan]]

* [[Charles Zegar]]

| hq_location = [[731 Lexington Avenue|Bloomberg Tower]]<br>731 [[Lexington Avenue]]<br>[[New York City|New York]], [[New York (state)|NY]] 10022<br>U.S.

| owner = Michael Bloomberg (88%)<br />Others (12%)

| webpagewebsite = [{{URL|https://www.bloomberg.com/company |bloomberg.com]}}

| footnotes = <ref>{{cite web|url=http://www.c-spanvideo.org/program/71466-1|title=Washington Friday Journal |date=April 26, 1996|access-date=January 20, 2010|publisher=[[C-SPAN]]|quote=Started the company the day after I left Salomon Brothers, October 1, 1981, so we're coming on our fifteenth year – anniversary.}}</ref><ref name="Fast Company"/><ref>{{cite news |title=The Bloomberg Bunch |access-date=December 13, 2011 |url=https://money.cnn.com/galleries/2011/fortune/1106/quotes.A_gallery_of_givers.fortune/6.html |publisher=[[CNNMoney]]}}</ref><ref name="AboutBloombergCompany" /><ref>{{cite news |url= https://www.forbes.com/profile/michael-bloomberg/ |title= #10 Michael Bloomberg |date= 2018 |access-date= October 17, 2018 |work=[[Forbes]]}}</ref><ref>{{cite news |url= https://www.theguardianft.com/business/2008/jul/18/merrilllynch.jpmorgancontent/4e298ff7-8d34-4498-8908-dc945e2bc93e |title= Merrill Lynch sells its 20% Bloomberg stake for $4.5bn |date= July 17, 2008 |access-date= April 24, 2023 |work=[[The Guardian]]}}</ref><ref name=bloom/><ref>{{cite news |url= https://www.theguardian.com/business/2008/jul/18/merrilllynch.jpmorgan/ |title= Bloomberg overhauls management team with Mark Carney to lead new board |date= August 21, 2023 |access-date= August 23, 2023 |work=[[The Financial Times]]}}</ref>

Bloomberg L.P. provides financial software tools and enterprise applications such as analytics and an equity trading platform, data services, and news to financial companies and organizations through the [[Bloomberg Terminal]] (via its Bloomberg Professional Service), its core [[revenue]]-generating product.<ref>{{cite web |title=What is a Bloomberg Terminal or Bloomberg Machine? |access-date=July 17, 2010 |url=http://beginnersinvest.about.com/od/research/qt/bloomberg.htm |archive-url=https://archive.today/20120708130251/http://beginnersinvest.about.com/od/research/qt/bloomberg.htm |url-status=dead |archive-date=July 8, 2012 |publisher=About.com }}</ref> Bloomberg L.P. also includes a [[news agency]] ([[Bloomberg News]]), a global television network ([[Bloomberg Television]]), websites, radio stations ([[Bloomberg Radio]]), subscription-only newsletters, and two magazines: ''[[Bloomberg Businessweek]]'' and ''[[Bloomberg Markets]]''.<ref>{{cite web|url=http://www.ajr.org/Article.asp?id=5023|title=The Bloomberg Juggernaut|date=1 March 2011|work=[[American Journalism Review]]|access-date=October 26, 2011|archive-url=https://web.archive.org/web/20121012203239/http://www.ajr.org/article.asp?id=5023|archive-date=October 12, 2012|url-status=dead}}</ref>

Bloomberg L.P. has remained a private company since its founding;, the majority of which is owned by billionaire Michael Bloomberg.<ref name="The New York Times" /> To run for the position of [[Mayor of New York]] against [[Democratic Party (United States)|Democrat]] [[Mark J. Green (New York politician)|Mark Green]] in 2001, Bloomberg gave up his position of CEO and appointed Lex Fenwick as CEO in his stead.<ref name="Leadership – Lex Fenwick">{{cite web|url=http://www.dowjones.com/djcom/leadership/LFenwick.asp |title=Leadership – Lex Fenwick |publisher=Dow Jones |access-date=April 11, 2013 |url-status=dead |archive-url=https://web.archive.org/web/20131202221539/http://www.dowjones.com/djcom/leadership/LFenwick.asp |archive-date=December 2, 2013 |df=mdy }}</ref> in 2012, [[Peter Grauer]] became the chairman of the company, a role he still holds.<ref name="Bloomberg">{{cite news|url=https://www.bloomberg.com/pressroom/chairman/|title=Chairman – Chairman of Bloomberg L.P.|publisher=Bloomberg L.P.|access-date=April 11, 2013}}</ref> In 2008, Fenwick became the CEO of Bloomberg Ventures, a new venture capital division and [[Daniel Doctoroff]], former deputy mayor in the Bloomberg administration, was named president and CEO, serving until September 2014.<ref name="mediadecoder.blogs.nytimes.com">{{cite news|url=http://mediadecoder.blogs.nytimes.com/2011/07/12/doctoroff-named-chief-executive-of-bloomberg-lp/|title=Doctoroff Named Chief Executive of Bloomberg L.P.|last=Stelter|first=Brian|date=July 12, 2011|work=The New York Times|access-date=December 20, 2011}}</ref><ref>{{Cite news|url=https://www.nytimes.com/2014/09/04/business/media/michael-bloomberg-to-return-as-chief-of-company-he-founded.html|title=Michael Bloomberg to Return to Lead Bloomberg L.P.|last=Sorkin|first=Andrew Ross|date=2014-09-03|work=The New York Times|access-date=2019-11-07|language=en-US|issn=0362-4331}}</ref> At that point, it was announced that Michael Bloomberg would be taking the reins of his eponymous market data company from Doctoroff, who was chief executive of Bloomberg for the past six years after his term as deputy mayor.<ref name="Financial Times">{{cite news|url=http://www.ft.com/cms/s/0/08ae1f42-33ce-11e4-ba62-00144feabdc0.html/ |archive-url=https://ghostarchive.org/archive/20221210/http://www.ft.com/cms/s/0/08ae1f42-33ce-11e4-ba62-00144feabdc0.html/ |archive-date=December 10, 2022|title=Bloomberg to take helm at data group|work=Financial Times|date=September 4, 2014 |access-date=September 4, 2014 |url-access=subscription}}</ref>

* ''ChairmanChair:'' [[PeterMark GrauerCarney]] (since MarchAugust 20012023)

* ''Chief Executive:'' [[MichaelVladimir Bloomberg]]Kliatchko (since DecemberAugust 20142023)

=== List of former chairmenchairs ===

# [[Michael Bloomberg]] (1981–2001, 2014–2023)

# [[Daniel Doctoroff]] (2011–20142008–2014)

In 1992, Bloomberg L.P. purchased New York Radio station [[WNEW-FM|WNEW]] for $13.5{{nbsp}}million. The station was converted into an all-news format, known as [[Bloomberg Radio]], and the call letters were changed to [[WBBR]].<ref>{{cite news |title=Bloomberg to Pay $13 Million for WNEW-AM |access-date=October 27, 2011 |url=https://www.nytimes.com/1992/08/15/business/company-news-bloomberg-to-pay-13-million-for-wnew-am.html |work=The New York Times |first=Geraldine |last=Fabrikant |date=August 15, 1992}}</ref>

Bloomberg L.P. bought a weekly business magazine, ''[[Bloomberg Businessweek|BusinessWeek]]'', from [[McGraw-Hill]] in 2009. The company acquired the magazine—which was suffering from declining advertising revenue and limited circulation numbers—to attract general business to its media audience composed primarily of terminal subscribers.<ref>{{cite web |title=Bloomberg to take over BusinessWeek |access-date=July 22, 2011 |url=http://www.nbcnews.com/id/33299108 |work=[[NBC News]]|date=October 14, 2009 }}</ref> Following the acquisition, ''BusinessWeek'' was renamed ''[[Bloomberg Businessweek]]''. In 2018, Joel Weber was named editor of the magazine.<ref>{{Cite web|url=https://www.axios.com/exclusive-joel-weber-named-editor-of-bloomberg-businessweek-1515111048-be82910c-bfd1-4eea-aa24-283f000118b5.html|title=Exclusive: Joel Weber named editor of Bloomberg Businessweek|website=Axios|date=January 4, 2018 |language=en|access-date=2019-11-07}}</ref>

[[Bloomberg Television]], a service of Bloomberg News, is a 24-hour financial news television network. It was introduced in 1994, as a subscription service transmitted on satellite television provider [[DirecTV]], 13 hours a day, 7 days a week.<ref>{{cite news |title=At Bloomberg, Modest Strategy to Rule the World |access-date=October 27, 2011 |url=https://www.nytimes.com/2009/11/15/business/media/15bloom.html |work=The New York Times |first1=Stephanie |last1=Clifford |first2=Julie |last2=Creswell |date=November 14, 2009}}</ref> The network has taken over the channel space of the-defunct [[Financial News Network]] and hired most of the former FNN employees. Soon after, the network entered the cable television market and by 2000, Bloomberg's 24-hour news programming was available to 200{{nbsp}}million households.<ref>{{cite news |title=Bloomberg Unit To Announce A Cable Deal |access-date=October 28, 2011 |url=https://www.nytimes.com/2000/09/18/business/bloomberg-unit-to-announce-a-cable-deal.html |work=The New York Times |first=Danny |last=Hakim |date=September 18, 2000}}</ref> [[Justin B. Smith]] serves asis CEO of Bloomberg Multimedia Group which includes Bloomberg Radio, Bloomberg Television and online components of Bloomberg's multimedia offerings.<ref>{{cite news |title=BLOOMBERG LP NAMES JUSTIN B. SMITH CEO OF BLOOMBERG MEDIA GROUP |access-date=November 20, 2013 |url=https://www.bloomberg.com/now/press-releases/bloomberg-lp-names-justin-b-smith-ceo-of-bloomberg-media-group-4 |publisher=Bloomberg LP}}</ref>

''[[Bloomberg Markets]]'' is a monthly magazine launched in 1992, that provides in-depth coverage of global financial markets for finance professionals.<ref>{{cite web |title=Bloomberg Markets |access-date=April 17, 2013 |url=http://www.businessfinancemagazines.com/magazines/bloomberg-markets/ |publisher=Business & Finance Magazines}}</ref> In 2010, the magazine was redesigned in an effort to update its readership beyond Bloomberg terminal users.<ref>{{cite web |last=Moses|first=Lucia|title=Bloomberg Strikes Again |access-date=September 15, 2011 |url=http://www.adweek.com/news/press/bloomberg-strikes-again-132453 |work=AdWeek|date=June 13, 2011 }}</ref> Michael Dukmejian has served as the magazine's publisher since 2009.<ref>{{cite news |title=Michael Dukmejian Joins BLOOMBERG MARKETS Magazine As Publisher |access-date=December 20, 2011 |url=https://www.reuters.com/article/2009/06/24/idUS188318+24-Jun-2009+PRN20090624 |publisher=Reuters |url-status=dead |archive-url=https://web.archive.org/web/20121114155702/https://www.reuters.com/article/2009/06/24/idUS188318%2B24-Jun-2009%2BPRN20090624 |archive-date=November 14, 2012 |df=mdy-all }}</ref>

''Bloomberg Opinion'', formerly Bloomberg View, is an editorial division of Bloomberg News which launched in May 2011.<ref>{{cite web|title=Bloomberg View reveals columnists, editorial board|access-date=October 28, 2011|url=http://www.politico.com/blogs/onmedia/0411/Bloomberg_View_reveals_columnists_ed_board.html|publisher=Politico}}</ref> The site provides editorial content from columnists, authors and editors about news issues and is available for free on the company's website.<ref>{{cite web|title=Bloomberg View Launches New opinion site is part of Bloomberg.com redesign|access-date=October 28, 2011|url=http://www.adweek.com/news/press/bloomberg-view-launches-131933|work=AdWeek|date=May 24, 2011 }}</ref> [[David Shipley]], former Op-Ed page editor at ''[[The New York Times]]'', serves asis Bloomberg Opinion's executive editor.<ref>{{cite news|title=Bloomberg View: Opinions, Yes, But Only Factual Ones|access-date=October 28, 2011|url=https://www.forbes.com/sites/jeffbercovici/2010/12/15/bloomberg-voice-opinions-yes-but-only-factual-ones|work=Forbes|first=Jeff|last=Bercovici}}</ref>

[[Bloomberg Tradebook]] is an electronic agency [[Broker|brokeragebroker]]age for equity, futures, options and foreign exchange trades.<ref name="Bloomberg Tradebook Overview">{{cite news |title=Bloomberg Tradebook Overview |access-date=August 23, 2011 |url=https://www.bloomberg.com/solutions/bloomberg_tradebook/ |publisher=Bloomberg Tradebook}}</ref> Its "buyside" services include access to trading algorithms, analytics and marketing insights, while its "sellside" services include connection to electronic trading networks and global trading capabilities.<ref>{{cite web |title=Bloomberg Expands Tradebook Offering to Brokers |access-date=August 23, 2011 |url=http://www.tradersmagazine.com/news/bloomberg-tradebook-tierney-algorithms-broker-to-broker-business-107220-1.html?pg=1 |publisher=Traders Magazine Online}}</ref> Bloomberg Tradebook was founded in 1996, as an affiliate of Bloomberg L.P.<ref name="Bloomberg Tradebook Overview" />

The Bloomberg Innovation Index is an annual [[ranking]] of how [[innovative]] countries are. It is based on six criteria: [[research and development]], [[manufacturing]], [[high-tech]] companies, [[post-secondary education]], research personnel, and [[patents]].<ref>{{cite news|url=https://www.bloomberg.com/graphics/2015-innovative-countries/|title=The Bloomberg Innovation Index|publisher=Bloomberg}}</ref><ref>{{cite web|url=http://www.geektime.com/2015/02/01/bloombergs-global-innovation-index-ranks-s-korea-1st-snubs-u-s-at-6th-place/|title=Bloomberg's Global Innovation Index ranks S. Korea 1st, snubs U.S. at 6th place|publisher=Geektime|access-date=August 23, 2015|archive-date=April 2, 2015|archive-url=https://web.archive.org/web/20150402113217/http://www.geektime.com/2015/02/01/bloombergs-global-innovation-index-ranks-s-korea-1st-snubs-u-s-at-6th-place/|url-status=dead}}</ref> Bloomberg uses data from the [[World Bank]], the [[International Monetary Fund]], the [[World Intellectual Property Organization]], the [[United States Patent and Trademark Office]], the [[OECD]] and [[UNESCO]] to compile the ranking.<ref>{{cite news|url=https://www.bloomberg.com/slideshow/2014-01-22/30-most-innovative-countries.html#slide32|title=30 Most Innovative Countries: Who Took Home the Gold?|publisher=Bloomberg}}</ref>

The Bloomberg New Economy Forum Community includes leaders from the public and private sectors from around the world. 2018 participants represented more than $5.36 trillion in market cap and boasted a roster of over 400 delegates from around the world.{{Citation needed|date=July 2023}} Forum advisory board members include former U.S. Secretary of State [[Henry Kissinger|Henry A. Kissinger]], former U.S. Secretary of the Treasury [[Henry Paulson|Hank Paulson]], Vice Premier of China [[Zeng Peiyan]], [[Bill Gates|Bill Gate]]<nowiki/>s, [[Mukesh Ambani]], [[Janet Yellen]], [[Ursula Burns]], [[Gary Cohn]], [[Orit Gadiesh]], [[Walter Isaacson]], [[Yoriko Kawaguchi]], Martin Lau, [[Jorge Paulo Lemann]], [[Liu Qing (businesswoman)|Jean Liu]], [[Strive Masiyiwa|Strive Masiyiw]]<nowiki/>a, and others.<ref>{{Cite web |last=Talev |first=Margaret |date=September 15, 2019 |title=Beijing as the new Davos? Inside Bloomberg’sBloomberg's plan |url=https://www.axios.com/2019/09/16/bloomberg-plan-beijing-new-economy-forum |website=Axios}}</ref> Founding partners of the forum included [[3M]], [[Abu Dhabi National Oil Company|ADNOC]], [[Dangote Group|Dangote]], [[ExxonMobil]], [[FedEx]], [[HSBC]], [[Hyundai Motor Company|Hyundai]], [[Mastercard]], [[Microsoft]], and [[SoftBank Group|Softbank]].<ref>{{Cite news|url=https://www.bloomberg.com/company/announcements/400-worlds-influential-business-government-leaders-attend-bloombergs-first-ever-new-economy-forum-singapore-november-6-7-2018/|title=400 of the World's Most Influential Business and Government Leaders to Attend Bloomberg's First-Ever New Economy Forum in Singapore on November 6-7, 2018 {{!}} Bloomberg L.P.|last1=Paulson|first1=Hank|date=2018-10-03|access-date=2019-06-18|last2=Peiyan|first2=Zeng|language=en-US}}</ref>

In 2021, Bloombergthe company initiated the Bloomberg New Economy Catalysts program<ref>{{Cite web |title=Catalysts Homepage |url=https://www.bloombergneweconomy.com/catalysts/ |access-date=2023-08-08 |website=Bloomberg New Economy |language=en-US}}</ref> to spotlight the work of changemakers and their impact on the world.<ref>{{Cite web |last=Whitaker-Moore |first=Aja |date=June 9, 2021 |title=Bloomberg's plan to take on Davos and the world's greatest challenges |url=https://www.axios.com/2021/06/09/bloomberg-davos-globalization-pandemic |website=Axios}}</ref> Individuals selected as New Economy Catalysts included: [[Noubar Afeyan]], [[Sarah Al Amiri]], [[Yvonne Aki-Sawyerr]], [[Ankiti Bose]], Justin Gong, [[Sarah Hanson-Young]], [[Rachel Haurwitz]], [[Cristina Junqueira]], [[Kieran Long]], [[Ma Jun (environmentalist)|Ma Jun]], [[K. Megan McArthur|K. Megan MacArthur]], [[Sara Menker]], Daniel Metzler, [[Nick Molnar]], [[Nthabiseng Mosia]], Matias Muchnick, [[Aurélia Nguyen|Aurelia Nguyen]], Sara Spangelo, [[Anthony Tan (businessman)|Anthony Tan]], and [[Danielle Wood (engineer)|Danielle Wood]]<ref>{{Cite news |date=June 28, 2021 |title=Bloomberg New Economy Catalysts: 31 People Leading The World out of Pandemic |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/features/2021-new-economy-catalyst-list/ |access-date=2023-07-19}}</ref>

Bloomberg Línea is a partnership launched in 2021 to serve Spanish, Portuguese and English speaking latinoLatino audiences.<ref>{{Cite web |last=Línea |first=Bloomberg |date=2023-01-02 |title=Bloomberg Línea Officially Launches with 9 Websites in Latin America |url=https://www.bloomberglinea.com/english/bloomberg-linea-officially-launches-with-9-websites-in-latin-america/ |access-date=2023-04-12 |website=Bloomberg Línea |language=en-US}}</ref>

According to a recent case in August 2020, Bloomberg L.P. is again being charged with discrimination against black and non-white workers. Nafeesa Syeed, who served at Bloomberg for around four years as a national security reporter and Middle East reporter, sued the corporation in New York city court for sexism based on her gender and her ethnicity as a South Asian-American. Bloomberg faces a related complaint by a former saleswoman, who filed under a pseudonym in June and the corporation is now seeking to compel a public release of her name. Throughout both cases the same law firm defendsrepresents the victimsplaintiffs.<ref>{{Cite web|date=11 August 2020|title=Bloomberg LP Hit With More Discrimination Claims by Former Reporter|url=https://wwd.com/business-news/media/bloomberg-lp-sued-for-gender-race-discrimination-1203697697/|access-date=13 August 2020|website=WWD}}</ref>