"Bloomberg" is a major global provider of 24-hour financial news and information. Its software, terminals, data and news services are used by more than 325,000 clients in 146 countries. The company's services cover the world of finance and include news and analysis, market data, portfolio management, trading, risk analytics and reference data. Bloomberg also operates Bloomberg TV, the world's first global business news channel, with over 2 million subscribers in 130 countries.Bloomberg's global media services cover a range of sectors including energy, real estate, media, telecommunications and transportation. According to Forbes magazine, Bloomberg's net worth was $22 billion as of September 2013. The company was founded in 1981 by Michael Bloomberg, who serves as its chief executive officer and chairman. Bloomberg is headquartered in New York City.In 2012, Bloomberg News included more than 2,300 editors and reporters in 72 countries, and had a combined audience of 316 million people across its products."Michael Bloomberg" was born in Boston, Massachusetts, U.S., on February 14, 1942. His father was a bookkeeper for a dairy. Michael went to Harvard Business School, where he got a bachelor's degree in 1966 and an MBA in 1968. He worked as an investment banker for Merrill Lynch before founding his own company in 1981, Innovative Market Systems, a computerized system for traders to buy and sell securities. In 1981, Bloomberg quit his job at Merrill Lynch and founded financial news service "Bloomberg Wire," using a Teletype terminal. He started the company with a $10 million investment from Merrill's CEO, Pete Peterson, who later became Secretary of Commerce in the Richard Nixon administration. Bloomberg built his company's news network from the ground up and eventually became a pioneer of electronic trading in the 1980s.In 1986, Merrill Lynch became the first brokerage to make its prices available to third parties via computer terminals. The move was followed by many other brokerages.
