Haute 100 New York Update: Michael Bloomberg

Our Haute 100 list details the accomplishments of the most influential people in each of our markets—Miami, New York, Los Angeles, and San Francisco. These people continue to make moves, so rather than waiting for the next Haute 100 issue to come out, we thought we’d provide you with regular updates on those Haute 100 members who are making headlines. On our Haute 100 New York list is Michael Bloomberg, the billionaire and mayor of New York who continues to strive for the best education in New York.

Michael Bloomberg

Category: Billionaires

Company: New York City and Bloomberg LP

Industry: Politics

What Made Him Haute: The popular current mayor of New York City convinced the City Council to extend the two-term limit last year, allowing him to run for a third term. He earned his multibillion-dollar fortune by selling financial data and analytic tools to Wall Street. This lucrative business evolved into Bloomberg LP, which now has a magazine, cable network and radio station. It has been reported that the philanthropic Bloomberg will sell his 68 percent stake one day and perhaps give away the fortune. In March 2009, Forbes reported his net worth at $16 billion, which makes him one of the most successful billionaires in the United States during the recession, and the world’s biggest increase in wealth in 2009. As mayor of New York, Bloomberg declines to receive a city salary, accepting compensation of $1 annually for his services.

What Makes Him Haute Now: Mayor Bloomberg recently announced that he will continue his ongoing efforts to provide the best education in New York by keeping the hardest working teachers. The steps in reforming the education system also coincide with the effort to double the amount of graduates of the City University of New York by 2020. Bloomberg and his supporters aim to achieve their plan by a four-step ranking level and will give raises to specific teachers with a $36 million federal grant. The Bill and Melinda Gates Foundation has also shown its support for Bloomberg’s cause through a $3 million grant to make high school and college academics standards harmonious with each other.

Bloomberg also recently honored Bermudian motivational speaker, Dennis Rahiim Watson, who is the chairman of the National Youth and Gang Violence Task Force. Watson has provided the community with his persistence and dedication toward helping young black males from becoming involved in violence and gang warfare.