Former New York City Mayor Michael Bloomberg on Tuesday revealed the plans for his company, Bloomberg LP, should he win the presidency come November.
Bloomberg plans to sell the financial-data and media company that he co-founded almost 40 years ago. The company is estimated to be worth billions of dollars and analysts have suggested that it could sell for as much as $60 billion, the Wall Street Journal reported.
The future of Mr. Bloomberg’s company had been in question since he announced his run for president in November, with him and his advisers going back and forth on whether he would place the business in a blind trust if he won, or if he would divest his interests entirely.
Initially, the campaign and people familiar with the company said Mr. Bloomberg intended to put the company into a trust or similar vehicle, in the event he were to win the election. But on the trail, Mr. Bloomberg later suggested a sale was a possibility.
On Tuesday, after a campaign policy adviser said on CNN that the former New York City mayor intended to sell his company if he won, campaign spokeswoman Galia Slayen acknowledged that the company would ultimately be sold in the event of a victory over President Trump in November.
Seems a bit premature to talk about winning and selling his company, doesn't it? Guess that's what happens when you have a massive ego.