Michael Bloomberg, the founder of the eponymous financial data and news operation, said he is likely to sell his company if he runs for president, reports Dakin Campbell of Business Insider.
Campbell writes, “Bloomberg said he would either sell the company or put it in a blind trust, but that at his age, 76, it makes more sense to sell it, according to an interview he gave to Radio Iowa.
“‘I think at my age, if selling it is possible, I would do that,’ Bloomberg said, adding that at the very least he wants to sell the company before he dies. ‘At some point, you’re going to die anyway, so you want to do it before then.’
“Bloomberg LP has more than 300,000 terminals installed on trading desks across Wall Street and London’s financial district, the City, in addition to hundreds of locations around the world. The firm competes with Refinitiv, the company formerly known as Thomson Reuters. Bloomberg also owns a massive media operation, which has long been considered reliant on a subsidy from the terminal business to stay afloat.”
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