Michael Bloomberg's financial data and media company — whose Bloomberg Terminal is the indispensable infrastructure of global financial markets, subsidizing a massive news and media operation.
The Bloomberg model: a subscription data terminal (Bloomberg Terminal at ~$25,000/year) that became so essential to financial professionals that it created a near-monopoly on financial data infrastructure. The terminal's revenue (~$6B/year) cross-subsidizes Bloomberg News, Bloomberg Television, Bloomberg Businessweek — making Bloomberg one of the few media organizations with genuine financial independence from advertising. Michael Bloomberg used the fortune to fund his NYC mayoral campaigns and philanthropy.
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