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Bloomberg Service

In 1981 businessman and current New York City Mayor Michael Bloomberg founded a financial news service that twenty-five years later provides data and news updates to financial entities around the globe. The primary income generating vehicle for Bloomberg L.P. (which includes radio, television, Internet and print outlets) is Bloomberg Terminal, the company's information conduit.

Michael Bloomberg controls approximately 72 percent of the service, which annually garners for the millionaire politician some 84.55 percent of the company's profits. Major competitors for the Bloomberg news service include the Dow Jones and Reuters newswires. Bloomberg has approximately 100,000 North American clients and an additional 130,000 subscribers around the world.

The Bloomberg service's commentators and researchers are considered to be some of the most informative and well-respected in the world of finance. Consequently, the Bloomberg service is a major player in the financial and investment life of the United States and of the world.

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