All articles tagged with #salomon brothers
Mike Bloomberg was fired after 15 years at Salomon Brothers, an experience that taught him resilience and adaptability, leading him to found Bloomberg LP and become a successful billionaire and influential leader.
After being laid off from Salomon Brothers in 1981, Mike Bloomberg quickly founded Bloomberg LLC, turning a setback into a successful career in media and business, and emphasizing that setbacks can be opportunities for growth.
Billionaire Mike Bloomberg reflects on getting fired from Salomon Brothers, the investment bank where he held positions for 15 years, and how it affected his professional trajectory, ultimately turning him into an entrepreneurial success on Wall Street. The day after he was laid off, he started his own company, Bloomberg LP, based on an idea nearly everyone thought would fail: making financial information available to people, right on their desktops. Since its beginnings in the 80s, Bloomberg LP has expanded beyond the finance-related services it offers and now has over 19,000 people in its workforce. Bloomberg's personal net worth is estimated to be around $94.5 billion as of Friday, according to Forbes.
Andy Saperstein, who runs the "boring" businesses with more predictable profits at Morgan Stanley, is emerging as a contender in the bank's CEO race. Saperstein's first stint on Wall Street was at Salomon Brothers, where he refused to cut his hair for client meetings. He left the industry but returned through a side door and transformed it from within.