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Latest News: Michael Bloomberg's Top 10 Reasons to Shoot in New York

 Best Known As: Political Figure

Gist: Michael Rubens Bloomberg (born February 14, 1942) is the current Mayor of New York City. He was listed as the eighth-richest American, with a net worth of US $16 billion, in the Forbes 400 on September 17, 2008, making him the richest resident of New York City, ahead of David H. Koch. He is the founder and 88% owner of Bloomberg L.P., a financial software services company.

A lifelong Democrat before seeking elective office, Bloomberg switched his registration in 2001 and ran for mayor as a Republican, winning the election that year and a second term in 2005. He was frequently mentioned as a possible independent candidate for the 2008 presidential election and fueled that speculation when he left the Republican Party in June 2007 to become an independent. There was also speculation that he would run as a vice-presidential candidate. Bloomberg did not, however, seek the presidency nor was he selected as a running mate by any of the presidential candidates.

In the fall of 2008, Bloomberg successfully campaigned for an amendment to New York City's term limits law, in order to allow him to run for a third term in 2009. On September 30, 2008, reports emerged that Bloomberg was seeking to amend the law, During the amendment campaign, Bloomberg's administration requested the support of certain nonprofit groups, which attracted some criticism because these groups have received threats from the mayor in the past.

Bloomberg is currently seeking the mayoral nominations of the Republican and Independence Parties. Possible Democratic opponents are the City Comptroller, Bill Thompson (already endorsed by the Working Families Party) and Tony Avella, a member of the New York City Council.

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