Queen Elizabeth II has made former New York City Mayor Michael Bloomberg an “honorary” knight of the British realm, in recognition of his work strengthening the relationship between the U.S. and the U.K.
“As Mayor of New York, as a businessman, and as a philanthropist, Mike Bloomberg has played a key role in forging transatlantic diplomatic, economic, and cultural ties,” said British Ambassador Sir Peter Westmacott in a statement.
He also credited Bloomberg with helping to create thousands of jobs in the UK by making London the European headquarters of Bloomberg LLP, and noted that the multi-billionaire has committed more than £42.4 million ($67.8 million) of philanthropic contributions in in the U.K.
Bloomberg accepted the honorary title, saying he considers Britain a “second home.”
The former mayor isn’t the first American to receive an honorary knighthood (only British nationals can receive the full honor). His predecessor, Rudy Giuliani, also accepted the honor, as did Steven Spielberg and Bill Gates. Hollywood star Angelina Jolie was made an honorary dame in July.
Sadly, Bloomberg will not get a sword, chain mail, or the handkerchief of a teary damsel. But thanks to him, swords are probably banned in New York City, anyway.
By LINETTE LOPEZ Michael Bloomberg had such a great time running NYC that when he leaves the Mayor's office he'll put his expertise to work by consulting cities all over the world.
Bloomberg Associates, his new consulting group made up of members of his current administration, will tackle problems from infrastructure development to crime, the NYT reports.
The organization won't be charging cities a dime, either. Its tens of millions of dollar budget will be funded by the success of Bloomberg's magic machine, the Bloomberg terminal.
Mayor Mitchell J. Landrieu of New Orleans recalled receiving a $4 million grant from Mr. Bloomberg last year to hire a team of eight outside experts that advised the city on how to lower its murder rate. Since then, the city has created a multi agency team to combat gang activity, set up a midnight basketball league to keep young men off the streets and pushed to make it harder for those charged with gun crimes to get out of jail.
The murder rate in New Orleans has fallen by 17 percent this year.
IN ONE corner of Michael Bloomberg’s open-plan City Hall offices, near the digital clock counting down his final days as New York’s mayor, hangs a large cartoon cut-out of a helicopter. Hanging from its cockpit window is a towel bearing the word “Bermuda”. This is a somewhat edgy gag. Thanks to the financial-information empire that he founded, Mr Bloomberg is one of the richest men in the world: Forbes puts his wealth at $31 billion. Naturally, he owns a real-life helicopter and a weekend home in Bermuda. It is not known just how often he flies to the balmy island to play golf. Though the mayor has brought transparency to once-murky city government (a favourite Bloomberg motto is: “In God we trust. Everyone else, bring data”), he does not feel a politician’s urge to share his inner life with voters.
New Yorkers have weathered a dozen eventful years with their mayor, spanning the aftermath of terror attacks, the financial crash and Hurricane Sandy. They elected him three times, first as a Republican, then as an independent, after campaigns of stupendous, lopsided expense (Mr Bloomberg shovelled more than $100m of his own money into his final re-election). His wealth frees him from corrupting special interests: he never has to beg for campaign donations. It has also spared him the usefully humbling experience of having to beg a truculent city for its love. He is a chief executive, not a leader who makes voters swoon.
Barred by term limits from running again, Mr Bloomberg has mere weeks left in office. Under his tenure New York has become safer and cleaner. His attempts to make New Yorkers healthier (a smoking ban in public places, calorie counts on menus) have been embraced after some grumbling. Schools have improved, albeit patchily. Real incomes have stagnated, however, and the gap between rich and poor has widened alarmingly.
Visiting the mayor at City Hall, Lexington pondered a narrower question: whether Mr Bloomberg’s experiment with self-funded, data-driven rationalism has broader lessons for American politics. Mr Bloomberg is sometimes called a centrist, but that is not quite right. He is a social liberal on issues from gay rights to the folly of imprisoning so many Americans. But he upsets liberals too, when he defends frequent police searches of young black and Hispanic men. “Stop-and-frisk” has cut crime, he says briskly: “Scaring the kids to not carry guns is one of the integral parts of it.” There are city programmes to help young minority males, he adds: his foundation gave them $30m.
That combination of liberalism, conservatism and philanthropy works in a city like New York. But it has no large constituency in national politics—as Mr Bloomberg tacitly conceded when he shut down half-formed thoughts of a presidential run in 2008. Now New Yorkers are ready for change. The outgoing mayor talks of Americans “voting with their feet”, visiting his city as tourists in record numbers, moving their children into its public schools and applying to work for the city in lines “a zillion miles long”. Even income inequality is the result of hard work to attract the “ultra-rich”, who patronise shops and restaurants and pay lots of tax, Mr Bloomberg suggests. But election day on November 5th will almost certainly see a thumping win for a more left-wing Democrat, Bill de Blasio, who has run as the anti-Bloomberg, vowing to raise top income-tax rates and playing to voter angst about a glittering city that feels unaffordable to many.
Outside New York in conservative circles, the mayor is held up as a sinister, Bond-villainish scold, dropping millions on political campaigns to foist big-city values on middle America. Favourite Bloomberg causes, from education reform to gun control, have drawn him into electoral fights nationwide. Bloomberg-funded attack ads helped derail a pro-gun Democrat trying to win a party primary in Illinois, and have pounded the pro-gun Republican running to be Virginia’s next governor. The tycoon’s cash is not always welcome. Colorado’s Democratic governor, John Hickenlooper, recently hinted that he would prefer a Bloomberg-funded group, Mayors Against Illegal Guns, to stop helping him fight gun-rights advocates, saying that folk in his state dislike outside “meddling”.
Supporters say that Mr Bloomberg is a pioneer of a new politics. Books with such titles as “If Mayors Ruled the World: Dysfunctional Nations, Rising Cities” argue that cities have almost magical powers to transcend partisan gridlock. To boosters, cities encourage pragmatic problem-solving, because mayors are accountable for tangible tasks like collecting rubbish, fighting crime or fixing schools. They quote a former New York mayor, Fiorello LaGuardia, who said: “There is no Democratic or Republican way of fixing a sewer.” They look forward to Mr Bloomberg going global as a mentor to mayors, via such bodies as C40, a network of big cities taking steps to reduce greenhouse-gas emissions. Mr Bloomberg seems to side with the boosters. National and state governments must wrestle with tasks such as redistributing wealth from haves to have-nots, he says. Washington looks “broken and shut down and hopelessly partisan.” In happy contrast, “Good mayors across America are doing innovative things”.
Resist the scourge of golf
But not all mayors are good, or immune from rows about wealth-sharing. Whoever is New York’s next mayor, the unions will demand new, generous and retroactive contracts. Ask union members—or the taxpayers who must foot the bill—whether fixing sewers has partisan aspects. It is true that dynamic American cities attract the sort of rich folk willing to spread their wealth a bit if that is the price for walking the streets in safety, as opposed to living in a gated, guarded suburb. But that is an observation about politics, not about processes of government.
Mr Bloomberg has done a lot for New York. Cheer if he devotes his coming years to helping cities, rather than to golf. Alas, his success is not much of a guide to fixing America.
City Hall will never look like this again: The hive that is the “bullpen,” with its desks strewn about the open space, and the staff–junior and senior–all buzzing around the King Bee himself, who sits in the middle of it all, just as he likes it. It’s an open-plan workspace style thatMichael Bloombergbrought with him from his days as the head of his eponymous data company, designed to be fluid, interactive, decentralized and cooperative. Its efficacy depends wholly upon how you feel about Bloomberg and his 12-year term as mayor of New York City.
On the wall overlooking the bright room is a prominent countdown clock that shows just more than two months left in what has arguably been the most transformative mayoral reign in New York City’s history. There were wins (the smoking ban, gun control, the overhauled city waterfront, the changed law that enabled a third term) and losses (the Olympic bid, the soda ban). But what the Bloomberg reign most profoundly demonstrated is the power of an extremely wealthy man who is beholden to no special interests. Bloomberg effectively created his own special interests and used the government to turn a city into a data-driven, health-conscious image … of himself.
On a sunny day in the fall I caught up with Bloomberg, 71, at City Hall. The mayor was relaxed, in a valedictory mood, drinking a cup of coffee while plucking at a handful of SunChips he had placed on the table before him. He talked about a future in which his influence–thanks to his $31 billion fortune and his passion for public service–may even grow.
Forbes: Let’s get to the big question: What’s next for you?
Bloomberg: On Jan. 1 I am going to my successor’s inauguration, assuming I’m invited. And on Jan. 2 my girlfriend [Diana Taylor] and I are going on our first vacation in 12 years, to Hawaii and New Zealand, to play golf. We’ll be playing with [hedge fund billionaire] Julian Robertson–on a good day I shoot a few strokes under 90. Then I’ll end up in China to give some speeches on behalf of the company. Those are my long-range plans.
Forbes: That’s it?
Bloomberg: Look, I will stay involved in the cases I care about. I’m not just going to give away money. I want to actually be involved with guns and immigration and innovation and government and public health. Exactly how, I don’t know. I will certainly continue to work with the 63 cities signed up for our climate leadership group, and I just agreed to become the chairman of the board of a small, avant-garde art museum in London [theSerpentine Gallery]. Those things will lead to a lot of other things. I’m not worried about it. I can tell you what I won’t do. I’m not going to become a professional investor. That’s somebody else’s job. I don’t want to teach. I don’t want to become a consultant. These things don’t appeal to me. I’m not going back to Bloomberg L.P. I don’t want to start a new company. I want to do a number of different things. My life has always been structured: one job, 24/7. Everybody I’ve talked to who has been able to handle the transition from a place where everybody wants your opinion to one where nobody does–that’s overstating it a bit but not by much–their advice has always been there will be lots of interesting things that present themselves, and you don’t need to rush into it. Oh, yeah, I’m also going to work on my Spanish. I am adamant that I want to speak Spanish like a native.
Forbes: But do you want to–can you–maintain your influence?
Bloomberg: Part of the influence is from being the mayor of New York. I will no longer have that, so to some extent I won’t have that bully pulpit. On the other hand, I’ll have some time to work on things I’ve regretted that I haven’t had time to work on more. I can get more involved in Mayors Against Illegal Guns. You know, Bill Clinton has worked very hard to keep himself relevant and make a difference, and he has. Bill Gates has done exactly the same thing.
Forbes: You’ve spoken recently about the growing importance of cities and city government. Expand on that idea.
Bloomberg: Thirty years ago the suburbs were the be-all, end-all, funded, of course, by the federal government, which had built all of the roads. Today cities are where things are happening. They deliver services, and you can measure it. Mayors have an actual record.
Forbes: As opposed to politicians in federal government?
Bloomberg: The federal government still does things. In war and peace and famine they still have a big say. It’s easy to criticize and say they do nothing. But federal governments around the world, their job is to redistribute wealth. Cities provide services. And with the exception of something like the military, the federal government does not. These are different jobs.
Forbes: Let’s talk about philanthropy. You have publicly stated that you plan to give away your entire fortune.
Bloomberg: Everything I have goes to the foundation [Bloomberg Philanthropies]. My kids are taken care of. My company will eventually go to the foundation or be sold by the foundation.
Forbes: Can philanthropy alone change the world?
Bloomberg: We’ve focused on smoking cessation, and a big part of the world is now smoke free. We’ve focused on malaria, working on a better mosquito that won’t carry the parasite. And outside of the foundation I’ve been giving 501(c)(4) money to candidates around the country who have agendas to fight against guns and for education. But the problems of the world–the big ones–are very big and require enormous amounts of capital. Think about it: New York City spends $22 billion a year on its public school system. Private money can’t substitute for the public part because of the magnitude. But it does let you do things that you can’t do with public money. Private philanthropy can fund demonstration projects. With public money you have to specify in advance what will happen, and if it doesn’t work, the press will say it’s a failure. What’s fascinating is that in science, if you go down a path and it turns out to be a dead end, that’s actually very valuable. It shuts off a channel. The bottom line is that you have to try a lot of things. This is where private money comes in. The essence of innovation is that you don’t know in advance if it will work, what it will look like, if people will buy it.
Forbes: You founded your Super PAC, Independence USA, in October of last year and funded some candidates in the 2012 elections. You ended up with a pretty impressive scorecard: 21 wins, 7 losses.
Bloomberg: I don’t worry about scorecards. You could just support those who you are pretty sure will win if you want a great scorecard. To me any win is better than no wins. The real thing is to try to make a difference.
Forbes: Back to Bloomberg L.P.: Why not run it again?
Bloomberg: I did it for 20 years. It would be a 24/7 job, which I don’t want to do. And we’ve got some very good people running it.
Forbes: Any concerns about the privacy breach from earlier this year, when some Bloomberg reporters used the Bloomberg terminals to extract subscribers’ private information?
Bloomberg: That was a made-up thing. The truth of the matter is that 25 years ago I came up with the idea that people have this terminal and they are paying us $20,000 a year, and if they’re not using it, we should call them. Some reporter looked at it and said that guys might not be there because he hasn’t logged in. Outside groups–Goldman Sachs and Morgan Stanley–are satisfied that nothing happened.
The Hive
Forbes: You are rumored to want to buy a newspaper. True?
Bloomberg: I met the guy who publishes the FT, and my joke is that I buy it every day. I think there are three great newspapers: the FT, the Wall Street Journal and the New York Times. The problem is they are not for sale, and I am not a newspaper person.
Forbes: You read them all?
Bloomberg: I am someone who still reads in print. I read the newspapers every day, spread out in front of me. If I’m away I may get them online, but it’s not the same experience. I started to try to read BusinessWeek, the Economistand Smithsonian on Zinio [a digital magazine app] and found myself four or five weeks behind. And so I went back to the paper versions. I put them next to my bed. I call it the “tyranny of the pile.”
Forbes: What do you think your legacy will be when all is said and done?
Bloomberg: You want to leave the world a better place for your kids. From a selfish point of view, you want people to think you’ve done a great job. In this city 8.5 million people are living on average 2.5 years longer than they did 12 years ago. Imagine if it went the other direction! Our problems here now are all problems of success. You say people can’t afford to live here, except that there are no vacancies. Our problem now is that everyone wants to go to our public schools. Traffic? If you don’t want traffic, go to Detroit.
/Stephen Lovekin/Getty Images for The Jackie Robinson Foundation
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Michael Bloomberg
Worth: $31 billion
The Connection: Mayor, New York City (2002-Present)
After three terms, Mayor Bloomberg's term is finally coming to an end. As he tries mightly to articulate his legacy, New Yorkers are offering a sharp rebuke to the Bloomberg years by supporting -- by a huge margin -- liberal Democrat Bill de Blasio in the upcoming mayoral race. Issues like the city's stop-and-frisk policy and Bloomberg's proposed ban on retail sale of large sodas have left him embattled.