Mayor Bloomberg’s Wealth Grew More Than 5x Since He Took Office
In 2001, when Michael Bloomberg was elected Mayor of NYC, his networth was 4,000 million ($4 Billion). Since then, his networth has grown more than 5 times that and made him the 11th richest person in America and the 20th richest person in the world.
Bloomberg’s wealth is now at $22 Billion. According to Forbes he is the 17th most powerful person in the world and the 20th richest.
Critics believe Bloomberg bought his way to office. In 2001, Michael Bloomberg spent $73 million of his own money on his campaign, outspending Green (his opponent) by five to one.
One of the major themes of his campaign was that, with the city’s economy suffering from the effects of the World Trade Center attacks, it needed a mayor with business experience.
After winning the 2001 election, Bloomberg served two consecutive terms (the mayoral term limit). Michael Bloomberg announced in October of 2008 that he would seek to extend the city’s two term limit so he can run for a third term.
The New York City Council had voted to extent the city’s term limits and all attempts to put this decision to a popular referendum, to reverse it in the federal courts or to override it with state legislation were unsuccessful.
Bloomberg won the 2009 election with fewer votes than any successful mayoral candidate had received since 1917.
Since the rise of Occupy Wall Street, New Yorkers are questioning Bloomberg’s intentions. #BloombergMustResign even trended worldwide on Twitter yesterday when the the news spread about him banning food donations for the homeless.
Does his massive wealth interfere with is mayoral duties? Did he become mayor for financial gain? Does he have good intentions for New York? Reblog with your answer.


