- If Bloomberg officially becomes a candidate, selling his namesake company may be his best option.
- Microsoft makes for a great suitor when you consider the firm’s track-record.
- Bloomberg is unlikely to sell until he has proven that he is a viable choice for the Democrats.
Last week Michael Bloomberg started takings tips toward becoming a fully-fledged presidential candidate. While he has yet to formally announce his candidacy, Bloomberg has filed the paperwork necessary to become a candidate in the Democratic primaries. As the former New York mayor and Wall Street billionaire prepares to unveil his campaign, many are wondering what will happen to his namesake company, Bloomberg LP. While it’s still just speculation at this point, Microsoft (NASDAQ:MSFT) has potential as a suitor.
Bloomberg Up For Sale
Many are speculating that Bloomberg would put the media firm up for sale. A year ago, he said as much in a radio interview.
I think at my age, if selling it is possible, I would do that. At some point, you’re going to die anyway, so you want to do it before then.
At the time, Bloomberg was reportedly valued at around $40 billion, so finding a suitor would be no easy task.
Bloomberg may have to sell his company to avoid a conflict of interest | Source: AP Photo / Matt Rourke
While Bloomberg’s comments back in December suggest he’s ready and willing to start shopping around for a suitor, recent news reports suggest he’s had a change of heart. NBC reported that an internal memo received by all Bloomberg staffers said the potential Presidential candidate wasn’t planning to sell.