![]() ![]() Bloomberg Inc., which manages Michael Bloomberg's assets, bought Merrill's remaining stake for a reported $4.43 billion in 2008. The terminals are now part of the professional services division, which brings in the majority of the company's estimated $10 billion of annual revenue.īloomberg LP bought back one-third of Merrill Lynch's stake in 1996 for $200 million. The company was renamed Bloomberg LP in 1986, and by 1991 it had 10,000 of its terminals installed on finance professionals' desks. Merrill Lynch invested $30 million in the company in 1984. IMS developed the Bloomberg Terminal system to track financial market information and calculate the price of financial instruments. ![]() He teamed up with Thomas Secunda, Duncan MacMillan, and Charles Zegar to found Innovative Market Solutions (IMS). When Salomon Brothers was taken over by Phibro Corporation, Michael Bloomberg received a $10 million check for his partnership interest in the firm. ![]()
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