Podcast Summary: In Good Company with Nicolai Tangen

Episode: Highlights: Michael Bloomberg
Release Date: January 9, 2026
Host: Nicolai Tangen (A), CEO, Norges Bank Investment Management
Guest: Michael Bloomberg (B), Founder of Bloomberg LP, former Mayor of New York City

Episode Overview

In this highlight episode, Nicolai Tangen interviews Michael Bloomberg at the Bloomberg offices in New York. The discussion covers Bloomberg’s journey from a modest upbringing to Wall Street, his innovations in financial technology, principles of work ethic and risk-taking, his time as New York City Mayor, his extensive philanthropy, and reflections on legacy and impact.

Key Discussion Points & Insights

1. Bloomberg’s Unconventional Beginnings

• Early Career and Salomon Brothers:
  • Bloomberg shares his background: growing up in Massachusetts, coming from a humble family, being a C student, and contemplating a military career before pivoting to finance.
  • He recounts nearly serving in Vietnam, only to be medically disqualified due to flat feet—a twist that forced a sudden career rethink.
    • Quote (B): "I have perfectly flat feet, and they didn't take anybody with flat feet. And so all of a sudden, I wasn't going to go to Vietnam, and I'd not thought at all about what I was going to do with my career." [01:56]
• Setback as Opportunity:
  • Bloomberg describes being laid off from Salomon Brothers—a moment that catalyzed his future entrepreneurial leap.

2. Founding Bloomberg LP: Technological Innovation

• Identifying the Gap:
  • Bloomberg noticed that traders had access to raw market data but lacked the tools to process or act on it efficiently.
    • Quote (B): "There was nothing on your desk that told you that let you do what you needed that data for. I want to draw a graph, I want to do a calculation, I want to send a message..." [02:48]
• Building from Scratch:
  • He hired an engineer and together, in a barn, built bespoke computers for their financial information system at a time before personal computers were available.
    • Quote (B): "I would go up on Saturdays and work in his barn... and we made our own computers." [03:24]
• Adapting Quickly:
  • When PCs became available two years later, Bloomberg quickly pivoted to using them, illustrating flexibility and pragmatism.

3. Work Ethic and Culture

• Principle of Outworking Others:
  • Bloomberg stresses the importance of perseverance, hard work, and balance.
    • Quote (B): "Well, you don't say no. You don't give up. You put a balance in life... balancing hard work with enough time off to not get worn out." [04:37]
• Daily Routine:
  • At 83, he maintains a rigorous schedule, getting up at 5:15 am and arriving at the office by 7:00 am.
    • Quote (B): "I've been taking some Fridays off, which is a little bit embarrassing. But yes, fundamentally I like to come in." [05:07]
• Organizational Culture:
  • The overall work ethic at Bloomberg LP is noted, with very low employee turnover, signaling high satisfaction.

4. Risk-Taking & Innovation

• Encouraging Experimentation:
  • He advocates for trying unconventional ideas, accepting that not all will succeed, but experimentation is essential.
    • Quote (B): "You have to try things. You know, it's a stupid idea, but maybe it might work... just because it's not conventional doesn't mean you shouldn't take the shot and do it." [05:57]

5. Public Service: Running for Mayor

• Motivation:
  • Bloomberg’s frustration with persistent issues in education inspired his political career.
    • Quote (B): "I was really annoyed that you kept reading that you couldn't do anything about education… and I thought to myself, that's not true." [06:21]
• Impact:
  • During his 12-year tenure as mayor, the average life expectancy in New York increased by three years, and test scores significantly improved.

6. Philanthropy & Giving Back

• Foundations of Giving:
  • Discussions around philanthropy and charity were central in his family upbringing. Now, he finds more satisfaction in societal impact than personal luxury.
    • Quote (B): "I don't need another set of golf clubs, but I do want to have the satisfaction of maybe saving somebody's life or helping a kid get an education..." [07:20]
• Children’s Philanthropy:
  • Both of his children, influenced by family values, are also active philanthropists.

7. Legacy and Future

• Succession Planning:
  • Bloomberg outlines steps to ensure Bloomberg LP’s continuity beyond his tenure, having already appointed successors.
• Lasting Impact:
  • For Bloomberg, the ideal legacy is marked by competence, care, and tangible benefit to others through institutions like Johns Hopkins, and organizations that shaped his life.
    • Quote (B): "I'd like to think, and I think also my kids, my parents made a very big difference in my life. Museum of Science in Boston made a very big difference... The Boy Scouts made a very big difference..." [08:46]

Notable Quotes & Memorable Moments

• On starting over after Salomon Brothers:
  "I was... laid off, and then the next day you Bloomberg." – Tangen [00:53]
• On early computing:
  "When I was doing this, PCs have not been invented then. Nobody believes that." – Bloomberg [03:00]
• On motivation to run for mayor:
  "Everybody thought I was crazy. Nobody thought I had a chance." – Bloomberg [06:28]
• On giving away wealth:
  "It's heady stuff... before you close your eyes and go to bed, say, 'Aren't very many people have done those things and I'd like to do it.'" – Bloomberg [07:24]
• On universal opportunity for impact:
  "Thank you very much. But you can do it, too. Everybody can do it at a different scale... it's just so satisfying. I don't understand why people don't do it." – Bloomberg [09:54]

Timestamps for Important Segments

• Early Life & Salomon Brothers: [00:52]–[02:34]
• Founding Bloomberg LP: [02:34]–[04:25]
• Company Culture & Work Ethic: [04:25]–[05:52]
• Risk-Taking: [05:52]–[06:16]
• Political Career / Mayoral Candidacy: [06:16]–[07:13]
• Philanthropy: [07:13]–[08:41]
• Legacy & Closing Reflections: [08:41]–[09:54]

Tone and Style

The conversation is candid, warm, and occasionally humorous, with both host and guest sharing personal anecdotes and philosophical insights. Bloomberg’s language is straightforward and self-deprecating, emphasizing humility, perseverance, and the practical impact of leadership and philanthropy.