News People Bloomberg returns to empire

Bloomberg returns to empire

Michael Bloomberg
'Mother Nature can't wait,' says Michael Bloomberg, putting his money where his mouth is. Photo: Getty
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Former New York Mayor Michael Bloomberg is returning to lead the financial data and news company he founded in 1981 but left to serve three terms in City Hall.

Bloomberg LP said on Wednesday current CEO Daniel Doctoroff will step down at the end of the year.

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Doctoroff was a former deputy mayor under Bloomberg.

His departure makes way for Bloomberg to take back the helm of the company, of which he still owns more than 85 per cent.

The 72-year-old Bloomberg handed the reins of the United States’ largest city to Bill de Blasio on January 1.

His company has grown to employ more than 15,000 people in 73 countries and has made him a billionaire.