Which billionaire founded the financial data and media company Bloomberg L.P.?

Michael Bloomberg founded Bloomberg L.P., the financial data and media company.

Bloomberg established the company in 1981 after leaving Salomon Brothers, where he had worked in investment banking and developed expertise in financial information systems. He used his severance package to create Innovative Market Systems with Thomas Secunda, Duncan MacMillan, and Charles Zegar; Merrill Lynch became an early investor. The company was later renamed Bloomberg L.P.

Its signature product, the Bloomberg Terminal, combined financial data, news, analytics, and communication tools in one system. Bloomberg also served as mayor of New York City from 2002 to 2013 and later returned to lead the company. A common mix-up is treating Bloomberg News as the whole business: Bloomberg L.P. is the broader parent company, while Bloomberg News is one of its media operations.