Michael Bloomberg is a billionaire businessman, publisher, philanthropist, and a former three-term mayor of New York City. The founder and owner of Bloomberg LP, he is one of the wealthiest people in the world, with an estimated net worth of $82 billion as of June 23, 2022, according to Forbes. On Nov. 24, 2019, Bloomberg entered the 2020 race for president of the United States as a Democrat, but in March 2020, he suspended his campaign and backed President Joseph Biden.