Michael R. Bloomberg has decided to re-assume the leadership of his business empire only eight months after ending his final term as mayor of New York, reports Andrew Ross Sorkin of the New York Times.
Sorkin writes, “Late Wednesday, Mr. Bloomberg told close confidants and senior executives of Bloomberg L.P., a financial data and media company, that Daniel L. Doctoroff, its chief executive and a longtime friend and lieutenant, would leave the company at the end of the year and that he would take over.
“For years, Mr. Bloomberg had insisted that he had no intention of returning full time to the company he founded.
“When he left politics, Mr. Bloomberg, 72, was expected to devote most of his time to giving away his $32.8 billion fortune. Those philanthropic efforts — on issues like gun control, immigration and public health — were supposed to take up much of his time and he would ‘most likely spend a few hours a day working from his new desk on the fifth floor,’ at Bloomberg’s offices, according to a memo Mr. Doctoroff sent employees in January.”
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