This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Top 12 Most Big-Hearted Billionaires

Stocks in this article: WMT BRK.B EBAY GOOG MSFT ORCL ABII

No. 2 -- New York City Mayor Michael Bloomberg

NET WORTH: $18 billion

The founder of Bloomberg LP and current Mayor of New York City, who is constantly rumored to be mulling a run for President (a rumor categorically denied by Bloomberg), he rose to prominence at Salomon Brothers as head of equity trading. After Bloomberg left Salomon, he poured his knowledge of trading into the creation of what were first known as Market Masters terminals. Bloomberg signed on Merrill Lynch as his first client.The financial information and trading system would ultimately become Bloomberg LP.

Bloomberg is as well known for his wealth as for his shunning of some of the usual accoutrements of the high life, riding the subway to work as Mayor of New York, working at a cubicle, and turning down the chance to live in New York's Gracie Mansion, the official Mayor's residence.

Bloomberg's move up the billionaire ranks has come lately, with Bloomberg making his greatest strides during the recession that took some other notable billionaires down in the rankings. Bloomberg moved from 142nd to 17th in the Forbes list of the world's billionaires in only two years, between 2007 and 2009.

Bloomberg's ranking among the Buffett/Gates pledges is no surprise, as he already ranks among the Top 10 philanthropists in the U.S., according to the Chronicle of Philanthropygiving away as much as $250 million annually in recent years.

Bloomberg and Gates have worked together previously. In 2008, Bloomberg and Gates announced a combined donation of $500 million to help governments in developing countries execute on anti-tobacco campaigns.

Bloomberg has famously remarked on his plans to give away his fortune, quipping, "I am a big believer in giving it all away and have always said that the best financial planning ends with bouncing the check to the undertaker."

Which leads us to the No. 1 richest American taking the Buffett/Gates pledge -- and along with Bloomberg one of only two members of the Forbes ranking of the 10 Richest Americans -- who is...

12 of 14

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs