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Update Infoxbox, Corporate History, and Senior Leadership with changes as announced August 2023 per https://www.ft.com/content/4e298ff7-8d34-4498-8908-dc945e2bc93e |
Updated head office image. Was years out of date. Tags: Visual edit Mobile edit Mobile web edit |
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| name = Bloomberg L.P.
| logo = Bloomberg logo.svg
| image = Bloomberg
| image_caption = [[Bloomberg Tower]] on [[Lexington Avenue]] in [[Midtown Manhattan]]
| type = [[Privately held company|Private
| industry = [[Technology]], [[Financial technology]], [[mass media]]
| founded = {{Start date and age|1981|10|1}}
| founders = {{Plainlist|
* [[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.
| locations = 176 offices
| num_locations_year = 2021
| key_people = {{ubl|
[[Mark Carney]] ([[chairman|chair]])|
Vladimir Kliatchko ([[Chief executive officer|CEO]])|
Jean-Paul Zammitt ([[President (corporate title)|president]])|
Michael Bloomberg (CEO,
[[Peter Grauer]] (
}}
| revenue = {{Increase}} [[United States dollar|US$]]10 billion
| revenue_year = 2019
| owner = Michael Bloomberg (88%)<br />Others (12%)
| num_employees = 20,000
|
| 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.
}}
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'''Bloomberg L.P.''' is a privately held financial, software, data, and media company headquartered in [[Midtown Manhattan]], [[New York City]]. It was co-founded by [[Michael Bloomberg]] in 1981, with [[Thomas Secunda]], [[Duncan MacMillan (Bloomberg)|Duncan MacMillan]], [[Charles Zegar]],<ref>{{cite news |title=Facebook's Zuckerberg Joins Gates, Buffett in Pledge |access-date=January 3, 2012 |url=https://www.bloomberg.com/news/2010-12-09/seventeen-of-wealthiest-u-s-families-take-buffett-gates-giving-pledge-.html |publisher=Bloomberg |date=December 9, 2010}}</ref> and a 12% ownership investment by [[Bank of America]] through their [[Stockbroker|brokerage]] subsidiary [[Merrill Lynch]].<ref>{{cite web |title=Bloomberg LP History |access-date=July 17, 2010 |url=http://www.fundinguniverse.com/company-histories/bloomberg-l-p-history/ |publisher=FundingUniverse}}</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>
The company has 176 locations and nearly 20,000 employees.<ref name=bloom>{{Cite web|url=https://www.businessinsider.com/bloomberg-hit-10-billion-in-annual-revenue-2019-1|title=A leaked memo shows Bloomberg reached $10 billion in annual revenue last year, and some insiders will receive a special bonus|first1=Dakin|last1=Campbell|last2=Kelley|first2=Trista|website=Business Insider|access-date=2019-05-29}}</ref><ref>{{Cite web|date=2021-01-27|title=Global Roles {{!}} Careers|url=https://www.bloomberg.com/company/careers/global-roles/|access-date=2021-12-22|website=Bloomberg L.P.}}</ref>
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In late 1996, Bloomberg bought back one-third of Merrill Lynch's 30 percent stake in the company for $200{{nbsp}}million, valuing the company at $2{{nbsp}}billion.<ref>{{cite news|url=https://www.wsj.com/articles/SB850771632890084000|title=Bloomberg Buys Back Stake From Merrill for $200 Million|newspaper=Wall Street Journal|date=December 17, 1996}}</ref> In 2008, facing losses during the financial crisis, Merrill Lynch agreed to sell its remaining 20 percent stake in the company back to Bloomberg Inc.,<ref>{{cite web|url=https://www.sec.gov/Archives/edgar/data/65100/000095012308008850/y64172e10vq.htm|title=Quarterly Reports on Form 10-Q |date=August 5, 2008 |publisher=Securities and Exchange Commission }}</ref> majority-owned by Michael Bloomberg,<ref>{{cite web|url=http://www.recode.net/2016/1/26/11589068/mike-bloomberg-is-worth-49-billion-much-more-than-most-people-thought|title=Mike Bloomberg Is Worth $49 Billion, Much More Than Most People Thought|first=Edmund|last=Lee|date=January 26, 2016|publisher=recode.net }}</ref> for a reported $4.43{{nbsp}}billion, valuing Bloomberg L.P. at approximately $22.5{{nbsp}}billion.<ref name="The New York Times">{{cite news |first1=Michael J. |last1=de la Merced |last2=Story |first2=Louise |url=https://www.nytimes.com/2008/07/17/business/17broker.html|title=Bloomberg Expected to Buy Merrill's Stake in His Firm|date=July 17, 2008 |work=[[The New York Times]] |access-date=October 26, 2011}}</ref><ref name="reuters.com">{{cite news|url=https://www.reuters.com/article/us-merrill-results/merrill-posts-4-9-billion-loss-sells-bloomberg-stake-idUSWNAB118720080718|title=Merrill posts $4.9 billion loss, sells Bloomberg stake|date=July 18, 2008|publisher=Reuters|access-date=October 26, 2011}}</ref>
Bloomberg L.P. has remained a private company since its founding
In May 2022, Bloomberg announced it would launch a new venture in the UK, Bloomberg UK, as part of a wider international strategy. Bloomberg UK plans to hire in the region and has launched a standalone website, a weekly video series, a podcast and new event series.<ref>{{Cite web |last=Silvera |first=Ian |title=Why people really pay for news |url=https://www.news-future.com/p/why-people-really-pay-for-news |access-date=2022-05-13 |website=www.news-future.com}}</ref>
In August 2023, Michael Bloomberg announced a series of leadership changes for the company, with Chief Product Officer Vladimir Kliatchko assuming the role of CEO and Chief Operating Officer Jean-Paul Zammitt assuming the role of President. He also announced a new board of directors which would be chaired by [[Mark Carney]], taking over from [[Peter Grauer]] and that existing board members would move to "Emeritus Status".<ref>{{Cite news |
== Senior leadership ==
* ''
* ''Chief Executive:'' Vladimir Kliatchko (since August 2023)
=== List of former
# [[Michael Bloomberg]] (1981–2001)
# [[Peter Grauer]] (2001–2023)
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# [[Michael Bloomberg]] (1981–2001, 2014–2023)
# Alexius "Lex" Fenwick (2001–2008)
# [[Daniel Doctoroff]] (
==Acquisitions==
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===Bloomberg Radio (formerly WNEW)===
In 1992, Bloomberg L.P. purchased New York Radio station
===Bloomberg Businessweek (formerly BusinessWeek)===
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>
===New Energy Finance===
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===Bloomberg Television===
[[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]]
===Bloomberg Markets===
''[[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 Pursuits ===
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===Bloomberg Opinion===
''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]]'',
===Bloomberg Tradebook===
[[Bloomberg Tradebook]] is an electronic agency [[
===Bloomberg Beta===
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===Bloomberg Innovation Index===
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>
===Open Bloomberg===
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Bloomberg New Economy Forum is an invitation-only event for business executives, government officials, and academics.{{citation needed|date=June 2019}} The inaugural event was held in 2018 in Singapore. In 2019, the forum took place in Beijing, China.<ref>{{Cite web|url=https://www.scmp.com/business/china-business/article/3010944/michael-bloomberg-host-second-edition-new-economy-forum|title=Michael Bloomberg to host high-profile business forum in Beijing|date=2019-05-21|website=South China Morning Post|language=en|access-date=2019-06-18}}</ref> In 2020 the event was held virtually. Both the 2021 and 2022 events were held in Singapore.<ref>{{Cite web |title=Bloomberg Forum attendees' special COVID treatment sparks Singapore debate |url=https://fortune.com/2021/11/13/bloomberg-new-economy-forum-singapore-covid-rules-immigration-foreign-workers/ |access-date=2023-07-19 |website=Fortune |language=en}}</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
In 2021, the 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
The 2022 cohort included: [[Anna Luísa Beserra|Anna Luisa Beserra]], [[Odunayo Eweniyi]], [[Angel Hsu]], Emiliano Kargieman, Carrie Chan, Gregory Rockson, Gloria Walton, and [[Amira Yahyaoui|Amira Yahayaoui]].<ref>{{Cite news |date=August 3, 2022 |title=Bloomberg New Economy Announces 2022 Class of Catalysts |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/features/2022-new-economy-catalyst-list/ |access-date=2023-07-19}}</ref>
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=== Bloomberg Línea ===
Bloomberg Línea is a partnership launched in 2021 to serve Spanish, Portuguese and English speaking Latino 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>
=== Bloomberg Intelligence ===
Bloomberg Intelligence (BI) is Bloomberg's research division. It provides data and analytics on global markets. It is available exclusively on the Bloomberg Terminal and the Bloomberg Professional App.<ref>{{Cite web |date=2020-08-26 |title=Bloomberg Intelligence Introduces Market Structure Research Practice |url=https://www.inpublishing.co.uk/articles/bloomberg-intelligence-introduces-market-structure-research-practice-16725 |access-date=2024-03-21 |website=InPublishing |language=en}}</ref><ref>{{Cite web |title=Bloomberg Media revamps content studio Kinection building in data to offer upgraded ad solutions |url=https://www.thedrum.com/news/2016/05/10/bloomberg-media-revamps-content-studio-kinection-building-data-offer-upgraded-ad |access-date=2024-03-21 |website=The Drum}}</ref>
==Offices==
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====''Nafeesa Syeed v. Bloomberg L.P.''====
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
==See also==
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