Michael Bloomberg No: 17 billionaire-2009

Net Worth:$16.0 bil
Fortune:self made
Source:Bloomberg
Age:67
Country Of Citizenship:United States
Residence:New York, New York
Industry:Media
Education:Johns Hopkins University, Bachelor of Arts / Science, Harvard University, Master of Business Administration
Marital Status:divorced, 2 children



New York City mayor facing a fiscal crisis as banking chaos destroys Wall Street. Lucrative bonuses that came with working on Wall Street fueled spending on apartments, restaurants and shopping in recent years; as bonuses dry up, so does the city's income. Forecasts predict NYC's tax revenues will fall 28% - nearly $7 billion - in 2010. Law passed in October will allow Bloomberg to run for 3rd term later this year. Approval rating now 52%, down from 71% last summer. Becomes world's 17th richest man after a transaction put a solid valuation on Bloomberg LP: he borrowed to buy a 20% stake in his company from Merrill Lynch in July for $4.5 billion. Today he owns 88% of the financial data and news outfit he founded in 1982. Boston-born son of accountant got engineering degree from Johns Hopkins, M.B.A. from Harvard. Became a trader at Salomon Brothers 1970s, quit with $10 million in stock. Created financial information services firm Innovative Market Systems to sell financial data, analytic tools to Wall Street. Renamed Bloomberg LP 1987; added news service, magazine, cable network, radio station. Has given away nearly $800 million to charity in the past 5 years.