How did Michael Bloomberg make his money?
Dude Changed status to publish February 9, 2022
Michael Bloomberg started his first company, Innovative Market Systems, in 1981. He lost $10 million on the company and was forced to sell up. However that just made him more determined and he tried again with a new company called Innovative Services. This time he made more than 500 times what he had invested. The majority of his net worth comes from this second business which is now named Bloomberg LP.