Haute 100 New York Update: Michael Bloomberg

Our Haute 100 list details the accomplishments of the most influential people in each of our markets—MiamiNew YorkLos 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. Michael Bloomberg announces $10 million for the students in the city of New York in an effort to provide tutoring.

Michael Bloomberg

Category: Billionaires

Company: New York City and Bloomberg LP

Industry: Politics

What Makes 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 $1.00 annually for his services.

What Makes Him Haute Now: As the tumultuous weather in New York continues, Mayor Michael Bloomberg provides some good news for the students and parents of New York. He has announced that $10 million will be given to more then 500 schools in New York in an effort to provide tutoring for students. It is predicted that 500,000 students that have been deemed as not proficient enough in math and and English will now be able to be tutored.

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