Bloomberg’s Long-Shot Bid for President Could Equate to a Future Company Sale
Posted on 02/19/2020
Michael (Mike) Bloomberg is a Democratic contender for U.S. president. In various nationwide polls, Bloomberg trails other Democratic presidential candidates including U.S. Senator Bernie Sanders.
“If elected president, Mike will sell the company,” Bloomberg spokeswoman Galia Slayen said.
In a chance that Bloomberg is elected president, Bloomberg LP, the financial information giant, would be sold. The sales process according to his campaign would be putting Bloomberg LP in a blind trust and then selling it.
Bloomberg LP is held as a private company and was formed in 1981. Burton-Taylor International Consulting analysts believe that Bloomberg generated over US$ 10 billion in revenue in 2019.
Mike Bloomberg is also the former Mayor of New York City.