Michael Bloomberg: I may sell my company if I run for president

Mike Bloomberg says he might sell his media company if he runs for president.

“It would either go into a blind trust or I would sell it. But I think at my age, if selling it is possible, I would do that,” the former New York mayor told Radio Iowa Tuesday, 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,” added the 76-year-old.

The billionaire, who owns more than 90 percent of Bloomberg LP, has been discussing the possibility of selling the company among a small group of top executives, including Chairman Peter Grauer, since at least October, a person briefed on the talks told The Post.

The company has been looking to increase operational profits by about 3 percent in order to do so — and has been quietly laying off well-paid staff as a way to boost its bottom line, the source said.

How the company would be sold is unclear, but a leveraged buy-out and initial public offering have been discussed, the person said.

The question of a sale or an IPO has come up periodically among top executives at Bloomberg, according to one former exec.

Original Source



Add comment