The Latest Breaking News from Michael Bloomberg

Billionaires played an unprecedented role in the 2024 US elections, with 150 of the world’s wealthiest families contributing nearly US$2 billion (£1.57 billion) trying to influence the outcome. This included donations from the likes of Elon Musk (US$133 million for the Republicans) and Michael Bloomberg (US$45 million for the Democrats).

Netflix co-founder Reed Hastings and former New York City mayor Michael Bloomberg made the largest contributions in 2024, and financial aid, especially for medical students, got most of the money

When Massachusetts voters decided to ditch the state’s high school graduation exams on Election Day, they joined a growing trend that has steadily chipped away at the use of high-stakes tests for the past two decades

The average true tax rate for the ultra-rich, including Elon Musk, is much lower than those less affluent as they leverage a host of tax-savings strategies to reduce their reported annual income despite skyrocketing net-worth growth