Who Owns the Media: Bloomberg

Bloomberg ⚝

Capitulation Rank: Independent
Category: Online Publishing 
Market Cap: Privately held

In an editorial published shortly after the 2024 election, company owner Michael Bloomberg wrote, “on almost every issue that voters identified as a priority, Trump’s proposals would likely make matters worse.” He is one of very few media-owning billionaires who has been willing to call out the Trump administration for past abuses. He has called on lawmakers, journalists and the courts to thwart the sort of corruption that typified Trump’s first term. “Dealing with a reckless president is an exhausting job, but it can and must be done — and it’s a job for members of both parties,” he wrote.

After Trump said he would eliminate the funding for and withdraw from the Paris Climate Accord, Bloomberg pledged to help cover the United States’ financial commitments.

Previously, Bloomberg said Trump was “not fit for high office” given his refusal to accept his 2020 election loss and his incitement of the pro-Trump mob that stormed the U.S. Capitol on Jan. 6, 2021.  “He made our country, the world’s greatest nation, look like a banana republic,” Bloomberg said. “Most Americans never thought we’d witness such a shameful episode.”

DEI Doublespeak:

Bloomberg’s website states that the company “is an equal opportunity employer and prohibits discrimination in employment. It is Bloomberg’s policy to provide equal opportunity and access for all persons.” Elsewhere the site states that “fostering an inclusive culture is key to attracting and retaining top talent.”

What It Owns:

Bloomberg provides financial-software tools, applications-data services and news via its Bloomberg Professional Service. The company also includes the Bloomberg News agency, a global television network (Bloomberg Television), websites, radio stations (Bloomberg Radio), subscription-only newsletters, and two magazines: Bloomberg Businessweek and Bloomberg Markets.

Money & Influence Game:

Bloomberg switched his party affiliation from Republican to Democrat in 2018 and has spent millions of dollars to elect Democrats. While he styles himself more as an independent, Bloomberg in 2020 ran to be the Democratic nominee for president, self-funding his campaign and refusing to accept contributions. Bloomberg LP paid lobbyists $370,000 in 2024, and Bloomberg employees made $64,740,881 in contributions to political candidates (2024 cycle). (SOURCE: Center for Responsive Politics)